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Property bargain!! for firs timers at least!

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    #2
    Jaden
    Registered Users Posts: 2,393 ✭✭✭Jaden


    120 Grand for a one bed apartment in the commuter belt? That's a bargain?

    Oh dear.....


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    #3
    Jarren
    Closed Accounts Posts: 4,692 ✭✭✭Jarren


    rip-off more likely


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    #4
    quozl
    Registered Users Posts: 3,308 ✭✭✭quozl


    A 1 bed of 45 sqm, not even in a village.

    What is the yearly management fee?

    118,950 / 14 (years) / 11 (months per year occupied) gives me a monhtly rental of 770 in order for this to be (to my mind) good value.

    Assuming a management fee of 1k, then it's 863 euro a month for that return.

    That is a dublin city centre rent. I don't know what the local going rate is, but I'd assume it's only a decent fraction of that.

    Or, being more generous, and taking it over 16 years, for a yield of 6.25%, and assuming a management fee of 1k pa, that's a rental income of 767 euro per month required.

    That does not look like value to me, and I'd be worried that the management fee is worse than 1k pa.


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    #5
    C@non
    Banned (with Prison Access) Posts: 402 ✭✭C@non


    i phoned up and its actually 900 management fee.. and its 2 minutes away from the village if you look at the new 3d map.

    seeing that the other appartments around there are from 200 to 145 this one is the lowerst around that area.. and u can use the train or dart service i think will be introduced soon to donabate..

    hmmm dunno


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    #6
    Cathmandooo
    Registered Users Posts: 17,324 ✭✭✭✭Cathmandooo


    Are you looking to buy or sell this place?


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    #7
    sodaev
    Registered Users Posts: 17 ✭sodaev


    The Dart won't be introduced soon to Donabate, if ever.


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    #8
    Ortiz
    Registered Users Posts: 113 ✭✭Ortiz


    I suspect you're involved in the sale of this somehow...


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    #9
    Xiney
    Registered Users Posts: 8,085 ✭✭✭Xiney


    C@non wrote: »
    Look at this, seems to be a bit of a bargain for that price!!
    lol


    no


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    #10
    brianrcarney
    Registered Users Posts: 377 ✭✭brianrcarney


    now a bargain in the least!


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    #11
    super_furry
    Registered Users Posts: 27,322 ✭✭✭✭super_furry


    €120k for a one bedroom shoebox of 45sqm? Crazy.


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    #12
    thenightrider
    Registered Users Posts: 1,647 ✭✭✭thenightrider


    Bargain alert FAIL


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    #13
    professore
    Closed Accounts Posts: 5,857 ✭✭✭professore


    QUICK QUICK .... where's me money ???? I want to buy this place !!!!!













    as the OP has no personal interest in it .... NOT!


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    #14
    C@non
    Banned (with Prison Access) Posts: 402 ✭✭C@non


    no i was looking at it for my self, as i was going to buy to rent.. and since they paycuts in my job, i cant get any more than 160k for a mortgage..
    everyone is saying that its the rite time to buy so im getting a point of view..

    i saw other places in the area that are more and it just looked like a good deal compared to these ones..

    http://www.myhome.ie/residential/brochure/turvey-woods-donabate-co-dublin/205868


    and this one!

    http://www.myhome.ie/residential/brochure/33-turvey-woods-donabate-co-dublin/122606

    Its going to save me a good bit.. or should i wait a bit longer for prices to go down even more?


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    #15
    jon1981
    Registered Users Posts: 4,359 ✭✭✭jon1981


    I really don't see the appeal of a one bed apartment, even more so far from the city! You realise if you buy it now you are stuck with it?

    The way i see it if you plan on having a family or even moving in with a partner any time soon it would be very claustrophobic! Personally I just hate 1 beds and can't see why people would be interested in one.


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    #16
    super_furry
    Registered Users Posts: 27,322 ✭✭✭✭super_furry


    Why do you want to buy a one-bedroom flat so far for the city centre?

    How long do you plan to live there?

    When you outgrow it, what do you plan to do with it?

    How long will your mortgage be? If you suffer another paycut, will you be able to make repayments? What about the interest rates rise?


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    #17
    C@non
    Banned (with Prison Access) Posts: 402 ✭✭C@non


    well i was thinking of renting this for my self, it was more of an investment point of view, as i know that a lot of people rent in donabate instead of buying so it would pay for it self.. i wouldnt be living in it my self...
    see i lived in donabate for 1 year before as i was working in santry and i found it dead handy.. peacefull and with the beach just a few minutes away i loved it, but when i was there i was in a different appartment block and everyone in the was renting which got me thinking..
    but i dont want a high mortgage on my back and this way i dont have to pay for it, it would be paying for it self and i carry on with my own life in my rented place..

    but thanks for the different opinions.. i guess i could get a bit more space for that kind of money now!


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    #18
    Jaden
    Registered Users Posts: 2,393 ✭✭✭Jaden


    What a snap! I bid 130K. Bugger it - 150K! I want to make I get get!

    Nice to see the dead cat bounce is in full swing.


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    #19
    Treehouse72
    Registered Users Posts: 1,003 ✭✭✭Treehouse72


    C@non wrote: »
    everyone is saying that its the rite time to buy so im getting a point of view..


    Who's "everyone"?

    In truth, the opposite is closer to what's happening: increasing numbers of people every day are realising that now is a terrible time to buy. I can't think of a single person - who is not a vested interest - in months who I've heard say now is the time to buy.


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    #20
    Fighting Irish
    Registered Users Posts: 7,065 ✭✭✭Fighting Irish


    lol


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    #21
    frank reynolds
    Closed Accounts Posts: 404 ✭✭frank reynolds


    what a load of me hoop. that's the most outrageously priced one bedroom apartment i've seen on the market in a long time.

    you do realise that if you're buying a place to rent out, you'd want to make sure there are REASONS for people to rent it... ie: colleges, close to business districts etc etc...

    you can buy 2 bedroom apartments and houses in the city centre for LESS than what they are asking for this.

    dont touch it. it's ridiculous.


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    #22
    C@non
    Banned (with Prison Access) Posts: 402 ✭✭C@non


    jaden i have no idea what you just said..

    for the rest, thanks for advice ill keep looking then.

    the only reason i was aiming at donabate is that i know the area and when i did rent over there at the time every time some one moved out, a new person or couple moved in with in 1 or 2 weeks..
    im still going to keep it in mind as it seems that they were rented to local people who already had family in the area.. but yeah dead rite, i might look at maynooth for colleges..

    Thanks guys/girls!


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    #23
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Cannon without meaning to sound facetious you havent got a clue about whats involved in propertly rental.

    There is no way in the world you should be looking at an investment property.

    Phrases like "it will pay for itself" and the fact you think this is good value for a shoebox in the ar$e end of nowhere are all I need to read to tell you to keep your money in your back pocket.

    Go out and properly educate yourself on all things property and once you actually understand more about investments then to look at doing so.


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    #24
    latenia
    Closed Accounts Posts: 1,997 ✭✭✭latenia


    That place is worth 35-40k.


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    #25
    C@non
    Banned (with Prison Access) Posts: 402 ✭✭C@non


    god strong opinions there.. wish it was only 40 grand! but you would have to go in the middle of no no were on an island were you can only get there by boat to get that price..

    might just keep my money and immigrate haha... seems like to much hassle to do anything these days!


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    #26
    frank reynolds
    Closed Accounts Posts: 404 ✭✭frank reynolds


    just forget about the one in donabate. it's a ridiculous price. they will NEVER sell that "apartment" at that price. you can get apartments in town for less than 100k that are bigger than that one, nicer, and close to colleges/workplaces/shopping/transport etc etc... which is exactly what you want if you're looking at buying to rent it out...

    first one on daft here that shows up under 100k is on cathal brugha street... D.I.T is there, ie: you would have students looking for nearby accomodation all the time etc...

    http://www.daft.ie/searchsale.daft?id=554202

    then you have one on Gardiner street... near to IFSC, connolly station, ALL of town is within walking distance from here... and again... under 100k (not to mention 140k hahaha)

    http://www.daft.ie/searchsale.daft?id=554203

    and that's just two. there are sh!tloads. do NOT buy an investment property outside of the city centre. its the most mental thing ive ever heard of. you would want to be looking no further out than 20 minute radius of the city centre.

    Donabate is at least an hour from town.


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    #27
    LittleBook
    Closed Accounts Posts: 1,716 ✭✭✭LittleBook


    C@non wrote: »
    i know that a lot of people rent in donabate instead of buying

    Don't you wonder why?


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    #28
    oceanclub
    Registered Users Posts: 3,411 ✭✭✭oceanclub


    C@non wrote: »
    everyone is saying that its the rite time

    Sorry, but who is "everyone"? Let me guess - estate agents, property journalists and FF senators. When have these people ever said it was the wrong time to buy. Some of them think it's always the right time to buy - literally:

    http://quotesfromthebubble.blogspot.com/2009/03/isabel-morton-irish-times-columnist.html
    So let's get moving. You can never buy at the wrong time.

    http://quotesfromthebubble.blogspot.com/2009/03/donie-cassidy-fianna-fail-leader-of.html
    It is never the wrong time to do the right thing

    Stop listening to vested interests and those who make money by getting mugs to buy overpriced property, look at the state of the country, and make up your mind about what will happen to prices in the foreseeable future.

    P.


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