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Am I crazy for considering this one bed apartment?

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    #32
    jamesthepeach
    Registered Users Posts: 992 ✭✭✭jamesthepeach


    4ensic15 wrote: »
    Yes., but 1 beds are the least risky. The void periods are always less.

    You are right.
    I had two 1 beds and haven't had no void periods for about 15 years in either of them. But am still giving up on renting to tenants.

    There is huge risk. And the risk is now from the very real prospect of delinquent tenants and the lack of control over who is in your own property and how fast you can remove them should they start damaging your investment or not paying. A behaviour fully supported by our government.


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    #33
    Lux23
    Registered Users Posts: 7,134 ✭✭✭Lux23


    So you're going to leave them empty!


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    #34
    baldbear
    Registered Users Posts: 5,564 ✭✭✭baldbear


    Have you 100% ruled out having kids?
    What if the sh#t hits the fan & you have to keep that one bed?

    If you don't mind staying in a one bed that drops in value & you can easily afford the mortgage then yes go for it.

    Do yourself up a pros & con list.


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    #35
    jamesthepeach
    Registered Users Posts: 992 ✭✭✭jamesthepeach


    Lux23 wrote: »
    So you're going to leave them empty!

    One is sold.
    The other is going great short term only.


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    #36
    Samuel T. Cogley
    Registered Users Posts: 10,684 ✭✭✭✭Samuel T. Cogley


    4ensic15 wrote: »
    1 bed apartments are the most stable element of the rental market. When rents are weak a single person will take them. When they are high a couple will rent them. If the o/p buys and saves another deposit, it will be no big deal to buy another place and keep it on as an investment.

    I disagree with the latter point. If the OP buys now and we do see a crash in prices, it will be a very big deal indeed trying to keep it on as an investment.

    Now if as others have said there's decent value out there and one is willing to be a LL in this climate fair enough - but I think you're making it out to be much simpler than it is.

    To reiterate my point the sums the OP has done are on the sunny side of optimistic and need to be re-done with a more pessimistic bent.


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    #37
    Mutant z
    Closed Accounts Posts: 1,487 ✭✭✭Mutant z


    You said you are single without a family so it shouldnt be too much of a problem for you, after all who's going to be sleeping in the other bed, if its just you on your own.


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