One-bed Apartment Resale

gleesonger

Hi,

Myself and my fiancee are considering buying a one bed apartment in Dublin around the ifsc.
I'm concerned if we do we'll find it hard to sell in a few years time. Any thoughts?

mariaalice

gleesonger wrote: »

Hi,

Myself and my fiancee are considering buying a one bed apartment in Dublin around the ifsc.
I'm concerned if we do we'll find it hard to sell in a few years time. Any thoughts?

Well you would have very little trouble renting it even if you didn't sell it, however it would affect any mortgage for another property you applied for so you really need to be very sure you could sell it, I cant see why you wouldn't be able to resell it in the IFC, it not as if you are talking of buying a one bed apartment in a distant commuter town.

gleesonger

I don't think when we intend to trade up that we'll be in a position to hold onto the apartment.

I had always thought that it was difficult to sell a one bed apartment, alot less liquid.

duchalla

location, location, location...

lcwill

I wouldn't worry - there is a shortage of 1 beds in Dublin and investors love them. Just don't pay too much and don't expect huge capital gains.

Think about who you will sell to when you buy. It will probably be an investor so buy something an investor would want to buy.

This means buying at a price that implies at least 7-8% gross yield with a car parking space and reasonable building management fees, ideally on a high floor and definitely not ground floor.

Pac2015

gleesonger wrote: »

Hi,

Myself and my fiancee are considering buying a one bed apartment in Dublin around the ifsc.
I'm concerned if we do we'll find it hard to sell in a few years time. Any thoughts?

As someone else pointed out this is a great location even with it being a one bed you will have no problem renting this out if you choose not to live in it, I own a one bed in D24 and I have never had any problems renting it out and have had offers to buy it also as none in the complex ever sell.

Timmaay

Why definitely not ground floor?

Pac2015

gleesonger wrote: »

Hi,

Myself and my fiancee are considering buying a one bed apartment in Dublin around the ifsc.
I'm concerned if we do we'll find it hard to sell in a few years time. Any thoughts?

I would also say that if I was buying again I would steer clear of an apartment as the management fees are ridiculous, but with the IFSC you be able to re sell it very quickly and rent it out my sister in law has an apartment there and she has never had any problems.

Timmaay

Timmaay wrote: »

Why definitely not ground floor?

Noisy and less secure, I'd say.

Also avoid a first floor apartment over the hall, front door or garage opening.

athtrasna

Deleted User wrote: »

Noisy and less secure, I'd say.

Also avoid a first floor apartment over the hall, front door or garage opening.

Definitely this. A ground floor or even first floor apartment are much less secure and as a result you reduce your resale market as it can be off putting for security conscious people or people with a lot of electronics or other expensive items.

lcwill

Timmaay wrote: »

Why definitely not ground floor?

Security and privacy issues will maker it slightly harder to rent or to sell than a comparable apartment on a higher floor. Also noisier and no chance of a good view.

It would be cheaper to buy on the ground floor but if you are worried about liquidity and potentially looking to rent or sell in future then I don't think it is worth it. If a lot of nice new apartments come on the market in the next 5-10 years existing ground floor apartments will be pretty undesirable by comparison.

A lot of the rental market in Dublin now is young Europeans who grew up in apartments and feel insecure in houses or ground floor apartments ( in my experience as a landlord in Dublin and renter in a southern European city).