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What to do with an apartment in Inchicore

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  • 25-11-2010 2:00pm
    #1
    thegreengoblin
    Registered Users Posts: 2,100 ✭✭✭


    I have an one bed apartment in Inchicore which is currently being rented out. I bought the place as somewhere to live for myself in 2002 but as time moved on and I started a family I had to rent a house which is what I've been doing for the last few years.

    I had the apartment valued and got quite a shock even allowing for how bad it is these days. So now I'm in negative equity, I have to keep renting it out as I couldn't sell it for its current value. Is renting it out going to be my only real option for the next few years?


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    #2
    [Deleted User]
    Posts: 23,339 ✭✭✭✭ [Deleted User]


    Renting out is your only option really unless you take the hit and sell. If you can afford to rent it out I'd be happy to keep doing so if I was you.


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    #3
    brianrcarney
    Registered Users Posts: 377 ✭✭brianrcarney


    think you answered your own question there.... if you can't afford to sell it at current value and prices are likely to drop further your stuck renting imho


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    #4
    thegreengoblin
    Registered Users Posts: 2,100 ✭✭✭thegreengoblin


    I just hope rents will stabilise, it's been dropping every time I get new tenants in.


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    #5
    [Deleted User]
    Posts: 23,339 ✭✭✭✭ [Deleted User]


    thegreengoblin wrote: »
    I just hope rents will stabilise, it's been dropping every time I get new tenants in.

    Yeah, it's either drop the rent or leave it empty unfortunately. Good value out there now for folks renting.


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    #6
    who_ru
    Registered Users Posts: 2,033 ✭✭✭who_ru


    There isn't good value everywhere mind you, at least not in many parts of dublin, and there's even less value of you're renting a place on your own.


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    #7
    [Deleted User]
    Posts: 23,339 ✭✭✭✭ [Deleted User]


    No doubt, I shared a lovely 4 bed detached house in Galway last year, the rent was €950 ish I think. 8 years ago I shared a 4 bed semi d in Clondalkin that was €1250.


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    #8
    John Mason
    Hosted Moderators Posts: 10,661 ✭✭✭✭John Mason


    if you can keep it rented, i would hold on to it

    you never know in 20 years it might be worth something or the kids can use it as a crash pad when they go to college:)


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    #9
    thegreengoblin
    Registered Users Posts: 2,100 ✭✭✭thegreengoblin


    irishbird wrote: »
    if you can keep it rented, i would hold on to it

    you never know in 20 years it might be worth something or the kids can use it as a crash pad when they go to college:)

    Well, the new DART line is scheduled to stop at Inchicore around 2018 so I suppose I'll have to hang on until then at least. Oh, wait....I've just heard Ireland is getting an interest-free bailout and Brian Cowen is on his way to the Aras. :rolleyes:


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