Richmond Court - Opinion?

BESman

I have only been living in Limerick for about 8 months and I'm thinking of buying an apartment in Richmond Court. But I've heard its a rough enough apartment block filled with "undesirables", is this true? What do people know about it?

Raiser

BESman wrote: »

I have only been living in Limerick for about 8 months and I'm thinking of buying an apartment in Richmond Court. But I've heard its a rough enough apartment block filled with "undesirables", is this true? What do people know about it?

In that case best check very carefully for fire with all the smoke you have blowing around........

- Same general message as "marry in haste repent at leisure" applies..... Also its a Buyers market right now (and increasingly so) hence there should be plenty of viable alternatives?

My advice would be to rent - while also expecting to pay less rent over the course of your leasing period and eventually when you do decide to actually buy you will prob pay a lot less for it - even once you've allowed for cash out on rent already paid etc.

Henry Ford III

It'll be mixed as in most city centre apartments.

Some decent, some not so good. I'd expect a lot of non nationals live around there. Not sure is that a positive or otherwise.

p.s. Property prices still have a distance to fall. Hang on and save some money. Just my 2c worth.

BESman

Thanks for the advice. I'll put my hand up and admit I'm new to the property malarky and was always the first to criticise people for buying when they could rent and stay debt free, but when you can buy a cheap apartment and pay a mortgage for less than your monthly rent it seems like a better option. Believe me though, I won't be rushing in by any means. In my opinion, apartments seem to be fairly cheap in Limerick, the Richmond Court one is €90k and I saw another one in Cathedral place for €55k, and these aren't sh1tholes, they look decent, well kept, etc.

I've also considered Ennis, brand new and furnished 1 & 2 beds for c.€80k.

How far can prices drop really?

Raiser

BESman wrote: »

Thanks for the advice. I'll put my hand up and admit I'm new to the property malarky and was always the first to criticise people for buying when they could rent and stay debt free, but when you can buy a cheap apartment and pay a mortgage for less than your monthly rent it seems like a better option. Believe me though, I won't be rushing in by any means. In my opinion, apartments seem to be fairly cheap in Limerick, the Richmond Court one is €90k and I saw another one in Cathedral place for €55k, and these aren't sh1tholes, they look decent, well kept, etc.

I've also considered Ennis, brand new and furnished 1 & 2 beds for c.€80k.

How far can prices drop really?

Over 15-20 years or whatever span of your Mortgage further drops are in theory easily overlooked if you are happy with your purchase and are planning on staying there for the long term - The Sting is when you pay 90K in June 2010 and then someone else pays 75K or less 12-18 months later for the same Property - As well as the 15K (hypothetical difference) theres also the interest payments on the total amount to be added on....... Especially if you plan to move on after a few years.

- Perhaps post over here in Accommodation & Property - Those Folks live and breath this stuff and will see ya right......

BESman

Raiser wrote: »

Over 15-20 years or whatever span of your Mortgage further drops are in theory easily overlooked if you are happy with your purchase and are planning on staying there for the long term - The Sting is when you pay 90K in June 2010 and then someone else pays 75K or less 12-18 months later for the same Property - As well as the 15K (hypothetical difference) theres also the interest payments on the total amount to be added on....... Especially if you plan to move on after a few years.

- Perhaps post over here in Accommodation & Property - Those Folks live and breath this stuff and will see ya right......

Thanks for that, I knew there must have been a property section on Boards, couldn't find the bloody thing!

Henry Ford III

I think if you search and haggle hard you'd get a 2 bed apartment in that area with a parking space included for below €100k.

If you are considering buying an apartment it'd be well worth your while checking out the property manangement company in advance. A good one can be a godsend.

munstergirl

Hi op
Have you googled richmond court, get lots of answers, man running brothel, man with pipe bomb.
I wouldn't live in that area if you gave me one for free.
Too many apartment blocks in small area. Future getto of limerick one local politican said.

There is only 1 way apartments in limerick are going and that is down, save your money.

munstergirl

And cathedral place seems to hit the headlines when it comes to shootings!

Jumpy

munstergirl wrote: »

And cathedral place seems to hit the headlines when it comes to shootings!

Thats because of the Moose. That was many, many years ago.

Raiser

munstergirl wrote: »

Hi op
Have you googled richmond court, get lots of answers, man running brothel, man with pipe bomb.

Where does he find the time I wonder?

- Sounds like a runaway Candidate for next Mayor of Limerick this Pipe-Bomb wielding Pimp

Jumpy wrote: »

Thats because of the Moose. That was many, many years ago.

It gets a little bit more recent than that if you exit the back door of the Moose and head for St. John Square!

- That area seems like a Warzone.........

BESman

I'm gone off Richmond Court coz I used to park in the multistory around there and remember seeing a lot of antisocial behaviour in the area, and munstergirl is right, looks like huge potential for another ghetto.

Think I'll hang onto the pennies for now and wait!

munstergirl

Know this is an old thread but interesting 2 bed apt richmond court is on daft.ie up for auction with allsop in dublin with a reserve of €37,000.

Still wouldn't buy one.

munstergirl

2 bed apartment sold today at allsop auction richmond court €37,000.

BESman

munstergirl wrote: »

2 bed apartment sold today at allsop auction richmond court €37,000.

Another thread has mentioned that a 2 bed Riverpoint apartment sold for €80,000. I think that is unreal considering it was the premier development in the city only a few years ago.

Vikdun

The building looks like a prison, renting would be safer short term, at least then if there are problems, you can leg it.

rf29

Why not look at somewhere like Cois Luachra in Dooradoyle? Lovely area and some apartments selling for 75-85K.