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Exercise: Evaluate a property

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  • 15-02-2012 6:47am
    #1
    shangri la
    Registered Users Posts: 952 ✭✭✭


    I was thinking it would be a good idea if we, as a group, evaluated a specific property that is currently on the market.

    The main things I would be looking at would be those that are not immediately obvious. For example, the house next door being for sale, coincidence or a potential problem with the build or area? Is the property on a flood plain? What similar houses have recently gone sale agreed? Pros and cons of the area? Any problems with the previous owners? Ect, ect.



    Opinions?


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    #2
    the_syco
    Registered Users Posts: 37,299 ✭✭✭✭the_syco


    shangri la wrote: »
    I propose we use 13 Sefton, Rochestown, Dun Laoghaire.
    Put up a Daft link.


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    #3
    Zamboni
    Registered Users Posts: 4,305 ✭✭✭Zamboni


    http://www.myhome.ie/residential/brochure/13-sefton-rochestown-avenue-dun-laoghaire-co-dublin/1709290

    The back garden is crap but apart from that it's quite nice.


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    #4
    tara73
    Registered Users Posts: 2,342 ✭✭✭tara73


    not one single pic of the upper floor, the rooms and the bathrooms:(
    not possible to evaluate this property.


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    #5
    CricketDude
    Closed Accounts Posts: 247 ✭✭CricketDude


    When will the obsession with property end. Gawd! Even people who dont want property are obsessed with it.


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    #6
    PoleStar
    Closed Accounts Posts: 774 ✭✭✭PoleStar


    I bid 2 million :)


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    #7
    shangri la
    Registered Users Posts: 952 ✭✭✭shangri la


    CricketDude wrote: »
    When will the obsession with property end. Gawd! Even people who dont want property are obsessed with it.

    your in the property forum. Gawd!


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    #8
    shangri la
    Registered Users Posts: 952 ✭✭✭shangri la


    The property pin would probably be a more suitable place for this.


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    #9
    the_syco
    Registered Users Posts: 37,299 ✭✭✭✭the_syco


    shangri la wrote: »
    The property pin would probably be a more suitable place for this.
    Go ahead. If you want our views on property, but don't provide links to the house for sale, links for the house next door that is on sale, etc, don't expect us to go looking for them.


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    #10
    pawnacide
    Closed Accounts Posts: 228 ✭✭pawnacide


    I looked at a 2 bed apartment approx 800 sq ft, fitted wardrobes, wooden floors, kitchen appliances in Portlaoise.

    Deal is 5000 euro upfront and 550 a month for 15 yrs, can be sublet if necessary and finance given by developer. Management fees are 800 per yr. Agent tells me they rent for 550 per month quite easily.
    I haven't done the maths yet but agent says finance works out at about 4.9 percent which is fixed for 5 years.

    Anybody else have any experience of this kinda thing?

    Forgot to mention prices are from 75 to 80,000.


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    #11
    the_syco
    Registered Users Posts: 37,299 ✭✭✭✭the_syco


    pawnacide wrote: »
    Deal is 5000 euro upfront
    I'd run away.


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    #12
    pawnacide
    Closed Accounts Posts: 228 ✭✭pawnacide


    the_syco wrote: »
    I'd run away.

    Why ?


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    #13
    not even wrong
    Registered Users Posts: 480 ✭✭not even wrong


    pawnacide wrote: »
    Agent tells me they rent for 550 per month quite easily.
    Never mind what the agent says they rent for or how easily they rent, do your own research.


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    #14
    pawnacide
    Closed Accounts Posts: 228 ✭✭pawnacide


    not even wrong wrote: »
    Never mind what the agent says they rent for or how easily they rent, do your own research.

    550 is about average, maybe even a little low.. there's a complex on the same road with 2 bed apts from 500 to 750 advertised on Daft.

    I don't see the downside thats why I want someone else to spot it for me or could the market actually be returning to something that resembles sense ???


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