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Dublin: Buy to let

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  • 03-06-2017 9:56pm
    #1
    Benji20122012
    Registered Users Posts: 27 ✭


    Hi, Just need some advice, I am looking to buy an 3 bed house/apartment in Dublin . Would be looking to live there while also letting other rooms. I would appreciate your input on deciding where to buy. I work in Citywest and have an budget of 400k. There are houses available in that area but for me it is too far from town for taxis home (25E+) . As an 1st time buyer would also be looking preferably for new development.
    Thanks


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    #2
    Feckofff
    Registered Users Posts: 116 ✭✭Feckofff


    If proximity to town is important then look on the north side is much better value.


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    #3
    Benji20122012
    Registered Users Posts: 27 ✭Benji20122012


    Yes, housing in south Dublin seems to be non existent, Would prefer Kilmainham side, apartments look very nice there and rent is always high


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    #4
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    You would get a good solid 3 bed house in Walkinstown within your budget. No service charges and the benefit of a long standing established community. Buying new is not going to be of much benefit and you will be stuck in a management company situation.


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    #5
    cronos
    Registered Users Posts: 2,719 ✭✭✭cronos


    4ensic15 wrote: »
    You would get a good solid 3 bed house in Walkinstown within your budget. No service charges and the benefit of a long standing established community. Buying new is not going to be of much benefit and you will be stuck in a management company situation.

    If he's a first-time buyer he would have the help to buy money as a benefit. Plus management fees have some value if you are getting a service. I pay 1k but get a free gym, free bins, 24-hour security. So it's not crazy bad.


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    #6
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,285 Mod ✭✭✭✭The_Conductor


    OP - there are a few new developments going up in Citywest itself- and you have the Luas on your doorstep- to be brutally honest- I'd be inclined to look on my doorstep. If you want to socialise- yes, taxis can be expensive- however, you could just setup an account with one of the local companies- and use it in conjunction with the Luas- to keep your costs down.

    There is a lot to be said for having a short commute- even a short walk to work- honestly- you may not fully appreciate it thinking about it now- but not having a 30-45 minute commute (or even more)- is something you can't put a price on.

    Also- you'll never have any problem letting rooms- and you can now earn up to 14k per annum tax free under the rent-a-room scheme.

    Honestly- a nice dwelling in the immediate vicinity of work- would to me seem like the best way to go. Having no commute- would be remarkable.


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    #7
    Benji20122012
    Registered Users Posts: 27 ✭Benji20122012


    @The_Conductor Yes i have thought of that and have seen the developments but for me it is an really boring area, there is nothing to do apart from getting the Luas into town, Additionally I am unsure that I want to be based in CityWest campus for ever.

    You are correct about the benefits E.g commute, house appreciation value & sub-letting. Would you know the price of these new developments? They are not yet priced on website

    Was looking at apartments in Kilmainham while ridiculously over expensive would be ideal for me...however there is still an long process to go before I decide


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    #8
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    cronos wrote: »
    If he's a first-time buyer he would have the help to buy money as a benefit. Plus management fees have some value if you are getting a service. I pay 1k but get a free gym, free bins, 24-hour security. So it's not crazy bad.
    The help to buy money is going to be factored into the purchase price. Also, a new build means bare floors. It can cost quite a lot to put down floor coverings and put up curtains etc. Management companies and agents are hassle in most cases. Rows over parking, Airbnb next door etc, unpaid service charges etc.


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    #9
    wordofwarning
    Closed Accounts Posts: 697 ✭✭✭wordofwarning


    cronos wrote: »
    If he's a first-time buyer he would have the help to buy money as a benefit.

    I believe the FTB subsidy is just going to be factored into prices by developers. People are willing to pay €10k more, as they will get that €10k back from the state. The price of cattle sheds here soared when the EU said that they will pay for 75% of them. A lot of builders up their prices massively as the farmer was going to get the money back


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    #10
    MysticMonk
    Banned (with Prison Access) Posts: 903 ✭✭✭MysticMonk


    Finglas is the way to go. Absolute bargains in 3 bed houses. maybe a bit of modernising for some of them but still as cheap as chips.


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    #11
    C3PO
    Registered Users Posts: 3,760 ✭✭✭C3PO


    MysticMonk wrote: »
    Finglas is the way to go. Absolute bargains in 3 bed houses. maybe a bit of modernising for some of them but still as cheap as chips.

    Bit of a hike from Citywest everyday though?


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    #12
    MysticMonk
    Banned (with Prison Access) Posts: 903 ✭✭✭MysticMonk


    C3PO wrote: »
    Bit of a hike from Citywest everyday though?

    Not at all.

    The m50 is 5 mins from finglas then it's about 25 mins to citywest.


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    #13
    C3PO
    Registered Users Posts: 3,760 ✭✭✭C3PO


    MysticMonk wrote: »
    Not at all.

    The m50 is 5 mins from finglas then it's about 25 mins to citywest.

    Travelling at normal work start/finish times ... I don't think so! I certainly wouldn't like to do it everyday ... and there's daily tolls!


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    #14
    deathtocaptcha
    Registered Users Posts: 349 ✭✭deathtocaptcha


    Why is the assumption that OP will be getting a mortgage? Cash buyers still make up a significant % of sales, even among first time buyers...


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    #15
    MysticMonk
    Banned (with Prison Access) Posts: 903 ✭✭✭MysticMonk


    C3PO wrote: »
    Travelling at normal work start/finish times ... I don't think so! I certainly wouldn't like to do it everyday ... and there's daily tolls!

    Well if you're getting a three bed house for half what it would cost nearer citywest i hardly think thats a deal breaker..bearing in mind finglas is no more that 25 mins from city centre and about the same from the airport..citywest is in the middle of nowhere.


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    #16
    Benji20122012
    Registered Users Posts: 27 ✭Benji20122012


    I would be looking for an more modern development then Finglas areas, Less then 10yrs old minimum, I have seen way too many old house that require huge refurbishment that is simply not worth the hassle. FTB subsidy is also not an deal breaker for me. Developments in Heuston South Quarter would be something that I would like but are not on the market, Would also need to be on Luas/Dart lines preferably


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    #17
    Fian
    Registered Users Posts: 2,192 ✭✭✭Fian


    Benji20122012 wrote: »
    Hi, Just need some advice, I am looking to buy an 3 bed house/apartment in Dublin . Would be looking to live there while also letting other rooms. I would appreciate your input on deciding where to buy. I work in Citywest and have an budget of 400k. There are houses available in that area but for me it is too far from town for taxis home (25E+) . As an 1st time buyer would also be looking preferably for new development.
    Thanks

    OP, you need to look at a house as a long term investment. You are not still going to be out at night in city centre and looking to get a taxi home in 15 years time often enough that the cost of a taxi from centre should impact on your purchase.

    It will take a hell of a lot of taxi rides before moving your preferred location for a house would be justified by the savings.

    Think of it this way - if you buy near where you work and cycle to work rather than use public transport/drive you will save enough for a taxi every week or so.


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