Adamstown: To buy or not to buy

the_syco

It's odd. According to http://www.adamstown.ie/index.php?option=com_content&task=view&id=509&Itemid=291 a high percentage of the units are occupied, but whenever I'm there, it feels like a ghost-town. When I drive through the place, I rarely see any signs of life. True, I haven't been through there in the last 2 months, but still, odd.

The_Conductor

the_syco wrote: »

It's odd. According to http://www.adamstown.ie/index.php?option=com_content&task=view&id=509&Itemid=291 a high percentage of the units are occupied, but whenever I'm there, it feels like a ghost-town. When I drive through the place, I rarely see any signs of life. True, I haven't been through there in the last 2 months, but still, odd.

Its a rather stark example of a 'dormer town' where most of the residences are vacant during the daytime (if you visit at the weekend there is a lot more life there).

I see the residents committee have lodged an appeal against the new set of traffic lights at Hillcrest, given its adding 4-5 minutes to exit onto the N4 or head up towards the 12th lock in the evening. It wasn't so much an issue over the summer months- but by god you notice it in the morning with all the school runs.......

Raskolnikov

I rent in Adamstown (no axe to grind), so here are the facts.

Good points.
1. It's not a ghost town. It might be quiet, but if you look at the car parking areas after 6, you'll see all the spaces are taken.
2. The build quality of the houses is actually not too bad, and they're rather spacious (by Irish standards at least). There is no high-rise and the grounds and area are actually very, very well kept.
3. Relative to other areas of Dublin, prices are very cheap.
4. It feels very safe and I haven't encountered anyone who has spoken of anti-social problems in the area.

Bad points.
1. It really only suits people working in West county Dublin, the likes of Swords, Dun Laoghaire wouldn't be an ideal commute.
2. The bus service is crap and the train isn't as useful if you're looking to get into the city centre.
3. Amenities-wise, there's enough of the basics (shops, doctors, schools), but if you're looking for anything to do (pubs or restaurants), you really do need to go somewhere else.

Overall, I think it's an fine place to live in. In fact, I would even say it's one of the better areas of Dublin that I have lived in. It's certainly not a ghost town, a slum, or the next Ballymun.

TheCityManager

The main reason the Op sould not buy in Adamstown (besides all the excellent advice already given) is that in 12-18 months he will most likely be able to get his 210k property for 120k.....why would he buy now???

Place like Adamstown will see the worst of the price falls that have yet to come as the country falls apart ..............................:mad:

l5auim2pjnt8qx

TheCityManager wrote: »

The main reason the Op sould not buy in Adamstown (besides all the excellent advice already given) is that in 12-18 months he will most likely be able to get his 210k property for 120k.....why would he buy now???

Place like Adamstown will see the worst of the price falls that have yet to come as the country falls apart ..............................:mad:

There where 2 types of Developments built within the Celtic Tiger Years Good ones and bad ones
The bad ones where poorly built with little thought put into infrastructure and amenties, they sold the developer goes.
The good ones where built to a high standard of quality in this country and alot of thought was put into infrastructure,amenties in level to meet the communities needs and also the surrounding communites already in place.

Adamstown falls into the 2nd category if a 210k unit is worth 120k next year so will all properties in the county .I am a resident in Adamstown 4 years now and can vouch for that.

Place that don't have enough facilites I agree will be worst hit "Adamstown is not one of these"
With as much free knowledge that I can give have proven on here that Adamstown is not a Ghost town and anywhere near it

"I'm not saying its the best place to live and definitely saying its not the worst place" its a community and town in the making that was one of The Celtic Tiger Years better developements and will certainly holds it's own against any other Town in times to come.

RasTa

Meredith Sharp Fax wrote: »

Adamstown falls into the 2nd category if a 210k unit is worth 120k next year so will all properties in the county .I am a resident in Adamstown 4 years now and can vouch for that.

What? How does that work....

The_Conductor

Estate agents are already advising possible sellers that if they want to shift an apartment that a realistic asking price is EUR174k for a 2 bed, or EUR189k for a three bed......Ow!!! The only way to sell is to appeal to investors- at prices that make servicing the capital a reasonable proposition...... McDonald Brothers in the village have a number of different type units for sale second hand

noxqs

I thought I heard the OP say he is 25 and asking what the rental potential would be on his 210k mortgage property in Adamstown.

Wow.

I can not believe there is still people willing to get themselves into massive debts in the hope of making a buck. You do realize, you're not getting a free house. That is over. The hassle of it alone is not worth the pathethic potential return on investment.

Have no one ever heard of the stock or bonds markets? A house in comparison is a laughable investment. It tracks inflation spot on (there will be no more bubbles in this area for a few generations. Forget it).

The boom is over. It ain't coming back. And 210k in Adamstown is not even a good deal if you shave another 100K off the price. You're 25 so you may not

know better in terms of history. But you're born in the age of google - go look up Japans house price bubble and how well that turned out. It's as close in the western world as you can get.




30 Years later. Prices are still below the prices BEFORE THE BOOM TOOK OFF. And Japan is a far more advanced economy than the current picture in Ireland.

So - if you buy to live there for 30 years, it will cost you more in interest and inflationary loss than renting. Right now buying is dead money. You will literally be loosing money even if you had a tenant thru the entire time just by loosing money to inflation versus using money to gradually build up solid savings with stock/bonds. Unlike a house, they will actually not only track inflation, but yield returns on top of it.

P.S. Stop spamming the forum about Adamstown using different profiles.

The_Conductor

majak wrote: »

I bought a house in stratton (adamstown square) last year and i am very unhappy with it. there were many problems with the house and construction company. if i could turn back time, i would have never bought it!

As per my comment on the previous thread- identify where you wish to post (a single thread) and remove your additional posts (4 to be removed thus far). Cross posting in different fora is not allowed (and as for copying and pasting in the same forum on different threads- while I understand your frustrations- its not appropriate either).

Regards,

SMcCarrick

majak

Hi
I think that buying to live (not to invest) is not a bad thing.
Everybody wants to have a place to call their own.
I bought a house in Adamstown last year and my mortgage is cheaper than we would have to pay for rent.
Living here has pluses and minuses.
I personally like Adamstown because it's neat, quiet and has schools & train station.
I don't mind that is multinational, but would love to see more irish people moving in.
Bad thing for me was negligence of the building company. that caused months of stress and put me off living here completely

i wish good luck with what ever you choose to do.