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Is €380-400k ridiculous money for a 2-bed apartment in Dublin 18?

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Comments

  • #102
    starlit
    Registered Users, Registered Users 2 Posts: 12,351 ✭✭✭✭starlit


    HeidiHeidi wrote: »
    You do know the OP was written in 2008?

    I didn't realise that! :o


  • #103
    Crumbs868
    Closed Accounts Posts: 438 ✭✭Crumbs868


    MarkAnthony wrote: »
    I'm in a similar situation bought a city centre (ish) one bed for mental, mental money - still in neg equity. That said I'm €550 per month repayments in an apartment that would rent out at c.1100 per month. Even taking into account the management fee I'm €450 per month better off. The clincher for me is the hassle of dealing with landlords and moving.

    Fingers crossed that I don't jinx it by saying this but I'm about to close on a 3 bed semi, lower mortgage but much higher repayments. Apartment will be rented out and all in all should just about look after it self in relation to cost. Even assuming rents don't keep pace with interest rises if I have to sink a few quid into it I can balance this against my pension payments.

    Not an ideal situation but I don't consider myself screwed either.

    Out of interest what will the interest rate on your apartment mortgage jump to once you come off the tracker, jump 3%?


  • #104
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Crumbs868 wrote: »
    Out of interest what will the interest rate on your apartment mortgage jump to once you come off the tracker, jump 3%?

    Without giving too much away we're in a bit of an odd situation which limits lenders, we'll go to 5.15% which is the guts of a 4% jump. Thankfully due to the way interest is offset against tax it should allow us to break even. Obviously many stay on the trackers, how long either the mortgage interest relief or the blind eye is turned to trackers continues is up for debate. Under stress we would be paying in each month, again that doesn't bother me per se as it's part of the retirement plan anyway.


  • #105
    Muahahaha
    Registered Users, Registered Users 2 Posts: 19,727 ✭✭✭✭Muahahaha


    RedPandaDan wrote: »
    Any time I read something like this, I always think back to that scene in The Savage Eye where a young mans parents reacts with disgust and lament their failures as parents when he confesses that he is renting...

    that scene on the Savage Eye was legendary, as was that whole episode on the Irish obsession with property


  • #106
    lima
    Registered Users, Registered Users 2 Posts: 1,239 ✭✭✭lima


    Muahahaha wrote: »
    that scene on the Savage Eye was legendary, as was that whole episode on the Irish obsession with property

    House to meet you!


  • #107
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,561 Mod ✭✭✭✭johnnyskeleton


    Eric Cartman wrote: »
    Apartments make little sense in tgese suburban centres anyway, also the cost to build an apartment would be offset by the retail units, car parking and other facilities that go with them. Take say sallins as an example, out by the train station there , a few blocks of apartments built , shops, carparking for park and ride , and some office units. After everything is wittled down i would say each of those apartments could be sold for 100k with a profit left over, in the boom sure they would have been 120-130k to vuild because even the tea boy was on 50k a year, even at that though, is there anybody here on boards now who would pay a cent over 100k to live in a 650sq ft 2 bed apartment thats a 45min 4-5 euro train journey to heuston station. And is near 4 shops and not much else. If there is, I really think they need to re-evaluate thibgs.

    That doesnt sound bad at all, compared to the €1k+ rents in suburban Dublin with even lobger bus rides in


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