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Thinking of buying in Mimosa Glencairn Leopardstown

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  • 04-11-2009 11:38pm
    #1
    shomrockkid
    Registered Users Posts: 29 ✭


    Hi all,

    Looking for opinions. Ive been looking for a place now for a few years in the south of dublin city. I'm now seriously thinking of making a bid out in this new development. Ive been out to see them a couple of times now. 4 bed duplexes are around the 385/390 mark. Apartments are well finished but maintenance fees are 2600 per annum. This sounds like a completely crazy amount. Ive asked some friends who say it is pretty standard. To maintain a lift in particular is costly.
    There is a new luas line been built out there, around a 8 minute walk from the estate but admittedly it is a long way out! Sure to buy out here would be a punt. Property prices could come down. I may lose my job. I'm not a first time buyer so i wouldn't be paying stamp duty which is a plus. There will be social housing out in this development but i have walked around the estate a good bit and there doesn't seem to be much trouble.
    I just wondering if anyone has any strong opinions or advice about this particular development. Maybe you are already living there and are happy or unhappy. Let me know
    Tagged:


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    #2
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,215 Mod ✭✭✭✭godtabh


    My girlfriend just bought one of the 4 bed duplex. She did a lot of negotiating with the estate agent and got them to reduce the price greatly. I tried one last push with the devloper and got a bargain price.


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    #3
    Theboinkmaster
    Registered Users Posts: 3,994 ✭✭✭Theboinkmaster


    shomrockkid wrote: »
    Hi all,

    Looking for opinions. Ive been looking for a place now for a few years in the south of dublin city. I'm now seriously thinking of making a bid out in this new development. Ive been out to see them a couple of times now. 4 bed duplexes are around the 385/390 mark. Apartments are well finished but maintenance fees are 2600 per annum. This sounds like a completely crazy amount. Ive asked some friends who say it is pretty standard. To maintain a lift in particular is costly.
    There is a new luas line been built out there, around a 8 minute walk from the estate but admittedly it is a long way out! Sure to buy out here would be a punt. Property prices could come down. I may lose my job. I'm not a first time buyer so i wouldn't be paying stamp duty which is a plus. There will be social housing out in this development but i have walked around the estate a good bit and there doesn't seem to be much trouble.
    I just wondering if anyone has any strong opinions or advice about this particular development. Maybe you are already living there and are happy or unhappy. Let me know

    IMO wait a few years for the property market to bottom out further - those duplexes going for €385k could easily only fetch €200k in 5 years time, given their location and the lack of local emenities.

    Remember €200k would be 5x the current average salary, which are currently falling...


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    #4
    20goto10
    Registered Users Posts: 1,210 ✭✭✭20goto10


    shomrockkid wrote: »
    Hi all,

    Looking for opinions. Ive been looking for a place now for a few years in the south of dublin city. I'm now seriously thinking of making a bid out in this new development. Ive been out to see them a couple of times now. 4 bed duplexes are around the 385/390 mark. Apartments are well finished but maintenance fees are 2600 per annum. This sounds like a completely crazy amount. Ive asked some friends who say it is pretty standard. To maintain a lift in particular is costly.
    There is a new luas line been built out there, around a 8 minute walk from the estate but admittedly it is a long way out! Sure to buy out here would be a punt. Property prices could come down. I may lose my job. I'm not a first time buyer so i wouldn't be paying stamp duty which is a plus. There will be social housing out in this development but i have walked around the estate a good bit and there doesn't seem to be much trouble.
    I just wondering if anyone has any strong opinions or advice about this particular development. Maybe you are already living there and are happy or unhappy. Let me know
    Wow €2600 maintenance fee is extortionist! €1500 would be the norm for apartments. As mentioned, you can get a great deal if you haggle so if you really like them why not go for it. But I'd do something about the maintenance fee first. It sounds like you'll be subsidising the developers interest payments and they're hardly going to lose a sale over the maintenance fee.

    Another option would be to check if there's any for rent.


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    #5
    Victor
    Registered Users Posts: 78,385 ✭✭✭✭Victor


    shomrockkid wrote: »
    Apartments are well finished but maintenance fees are 2600 per annum.
    Ask for a breakdown.


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    #6
    Oliver1985
    Registered Users Posts: 1,304 ✭✭✭Oliver1985


    2600 is shocking most the ones I have heard is 1500 and under!!!
    Serious what would 2600 a home get you considering a household bin tag is 8euro a week!!


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    #7
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,215 Mod ✭✭✭✭godtabh


    Oliver1985 wrote: »
    Serious what would 2600 a home get you considering a household bin tag is 8euro a week!!

    You obviously haven't a clue what the service charge goes towards


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    #8
    Oliver1985
    Registered Users Posts: 1,304 ✭✭✭Oliver1985


    kearnsr wrote: »
    You obviously haven't a clue what the service charge goes towards

    I know what it goes towards im just giving an example of one thing on the list!!:mad:


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    #9
    Piriz
    Registered Users Posts: 1,269 ✭✭✭Piriz


    kearnsr wrote: »
    You obviously haven't a clue what the service charge goes towards

    Then justify this €2600 for the OP and the rest of us who disagree with this monumental overcharge..

    landscaping, waste removal, street lighting, electrical maintenance, lift maintenance €2600 per household x every household? (i am aware i am probably missing lots of things in my list which you could shed light on perhaps) but why would this particular development require an additional €1000(+) over other developments in Dublin?

    An estate of houses and apartments called Ridgewood in Swords won awards for the upkeep of the estate (dunno the exact title of the award or specifically its awarding body) but fees in Ridgewood are aprox €1100-€1200.


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    #10
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,215 Mod ✭✭✭✭godtabh


    Piriz wrote: »

    An estate of houses and apartments called Ridgewood in Swords won awards for the upkeep of the estate (dunno the exact title of the award or specifically its awarding body) but fees in Ridgewood are aprox €1100-€1200.

    Are the comparable in size?

    Do they have the same amount of lifts? Do they have the same amount of floors? Do they have the same mix of apartments and houses?

    You probably aren’t comparing like with like.

    My management fees are €1200 and the development isn’t half the size of it. The management fees in Ashtown are about €2000 (depending on what floor of the development you live in).

    Ask for a breakdown of costs.


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    #11
    20goto10
    Registered Users Posts: 1,210 ✭✭✭20goto10


    kearnsr wrote: »
    Are the comparable in size?

    Do they have the same amount of lifts? Do they have the same amount of floors? Do they have the same mix of apartments and houses?

    You probably aren’t comparing like with like.

    My management fees are €1200 and the development isn’t half the size of it. The management fees in Ashtown are about €2000 (depending on what floor of the development you live in).

    Ask for a breakdown of costs.
    Like someone above has already mentioned, what is the OP getting for the extra €1000? Extra lifts and larger grounds to maintain is of no benefit to the OP whatsoever. What is he getting for his money? And besides that, larger grounds, extra lifts, extra anything at all comes with extra occupants which keeps the average cost down.

    More likely than not, the complex is a ghost town (drive by it on the M50 and you won't see many lights on) and what little occupants there are are being asked to stump up for the short fall.


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    #12
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,215 Mod ✭✭✭✭godtabh


    20goto10 wrote: »

    What is he getting for his money?

    He gets a benifit from it and so does every one else. Thats why he pays. Thats why every one pays. If he doesnt want the benifit then buy some where else
    20goto10 wrote: »



    More likely than not, the complex is a ghost town (drive by it on the M50 and you won't see many lights on) and what little occupants there are are being asked to stump up for the short fall.

    Neither the aprtments or duplexs have sold out but there is a lot of people about the place. I've been in the estate many times (as opposed to just driving by it).

    Looking forward to moving in


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    #13
    bangersandmash
    Closed Accounts Posts: 686 ✭✭✭bangersandmash


    The worrying thing is that if the charge is €2.6k now when the development is 3 years old, what will the charge be in 10+ years when the properties require more maintenance work and unforeseen problems inevitably arise (eg roof, lift problems etc)?

    There is a lot to be said for older estates and properties in Dublin that do not have management charges.


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    #14
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,215 Mod ✭✭✭✭godtabh


    sinking funds are in place for that very reason


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    #15
    bangersandmash
    Closed Accounts Posts: 686 ✭✭✭bangersandmash


    kearnsr wrote: »
    sinking funds are in place for that very reason
    I'm aware of sinking funds. But it's optimistic to say that a sinking fund will cover all major work as apartments age.

    The point is that it is likely that €2600 is the starting point for the fees that the OP will face paying over the time he/she lives there. That would be a concern for many people.


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    #16
    BobbyD10
    Registered Users Posts: 620 ✭✭✭BobbyD10


    bangersandmash wrote: »
    I'm aware of sinking funds. But it's optimistic to say that a sinking fund will cover all major work as apartments age.

    The point is that it is likely that €2600 is the starting point for the fees that the OP will face paying over the time he/she lives there. That would be a concern for many people.

    Well, if someone wants to pay a 13th and 14th mortgage repayment, sure leave them with it.


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