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2 Bed House or Apartment

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    #32
    holliehobbie
    Registered Users Posts: 409 ✭✭holliehobbie


    I live beside a small block of apartments. A neighbour told me they were just charged €12,000 each to rectify faults that had just come to light with a change of management company. Something to do with fire safety. These were built in 1996.


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    #33
    Mad_maxx
    Registered Users Posts: 13,503 ✭✭✭✭Mad_maxx


    Sleeper12 wrote: »
    Agreed. House will be worth more & increase in value more than the apartment too.

    An apartment in D6 will appreciate more than any house in finglas


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    #34
    Sleeper12
    Registered Users Posts: 17,069 ✭✭✭✭Sleeper12


    Mad_maxx wrote: »
    An apartment in D6 will appreciate more than any house in finglas




    And that tells OP nothing.


    How about this. An average house in Finglas will appreciate more than an average apartment in Fingals



    An average house in D6 will appreciate more than an average apartment in D6


    The only way an apartment will appreciate more than a house or even at the same rate is if it's a large high end apartment.


    For the most part we don't build big enough apartments that you would like to stay in for life. Apartments are a big step up from house share or renting a room but the novelty wears off after a few years. You feel cramped & you get fed up in general living in an apartment.



    We don't even build many apartments that an older couple would want to downsize to. Planners need to increase (again) the minimum size of apartments or they will never match house prices


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    #35
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    Thanks for the info.

    The apartment and house are the same square footage but the house does have a small back garden. However it's just a terrace and no grass. There is also no window at the upstairs back of the house for some reason (potentially planning). So they are both equally small properties.


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    #36
    dubrov
    Registered Users Posts: 3,570 ✭✭✭dubrov


    Sleeper12 wrote:
    How about this. An average house in Finglas will appreciate more than an average apartment in Fingals

    How about this?

    A more valuable house will appreciate more than a cheaper house.

    Do you have any evidence to suggest that houses have historically outperformed apartments when refurbishment costs have been factored in?


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    #37
    Sleeper12
    Registered Users Posts: 17,069 ✭✭✭✭Sleeper12


    dubrov wrote:
    Do you have any evidence to suggest that houses have historically outperformed apartments when refurbishment costs have been factored in?

    I am part of a consortium that has investment commercial and residential property. This doesn't make me an expert but ask anyone involved in investment residential property & they will tell you the same thing.

    Apartments don't appreciate as much as houses of the same value. Not too noticeable now with a housing shortage but when supply meets demand it becomes noticeable. In the late 0s standard one bedroom apartments lost the most value, up to two thirds of value in some cases. Followed by standard two bedroom apartments. Standard houses held their value best. They still have collapsed in price but not by as much.


    High end houses & apartments are a different kettle of fish. They have a Seperate rule set.


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    #38
    skooterblue2
    Closed Accounts Posts: 6,816 ✭✭✭skooterblue2


    holliehobbie wrote: »
    I live beside a small block of apartments. A neighbour told me they were just charged €12,000 each to rectify faults that had just come to light with a change of management company. Something to do with fire safety. These were built in 1996.

    Another reason to avoid apartments if possible. Was it genuine or not? Who knows? No control of who gets contracts to do renovations cleaning etc etc


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    #39
    dubrov
    Registered Users Posts: 3,570 ✭✭✭dubrov


    I had a quick look at the CSO property index of Dublin City apartments vs Houses.
    It only goes back to 2005 but the numbers would suggest that apartments perform more poorly in a recession but better in a boom.

    Apartments have actually outperformed houses for the last 3 years.


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    #40
    zapper55
    Registered Users Posts: 684 ✭✭✭zapper55


    No window in one of the house bedrooms sounds strange. You need to get a survey done asap.

    You talk about if the value goes down things would be tricky for you trading up, if you need to move for kids etc. I think you would be mad to buy a property that wouldn't suit your needs for the next 10 years plus. There are no guarantees in the property market, has the last few years not taught people anything?

    As you said yourself, buying this means you loose your ftb status for a deposit.


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    #41
    PhoenixParker
    Registered Users Posts: 2,677 ✭✭✭PhoenixParker


    skooterblue2 wrote: »
    Another reason to avoid apartments if possible. Was it genuine or not? Who knows? No control of who gets contracts to do renovations cleaning etc etc

    The contracts are controlled by the management company made up of the owners.

    As for the €12,000. If it's built in 1996 it's coming up on 30 years. Every building of that vintage, be it house or apartment, is at a point or close to it where it needs sone of the bigger jobs done - windows, roof, boiler, driveways.

    The costs of management fees vs the similar costs of home ownership are far more similar acriss the years than most home owners realise simply because of the way the expenses occur.


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    #42
    devlinio
    Banned (with Prison Access) Posts: 172 ✭✭devlinio


    PhoenixParker wrote: »
    The contracts are controlled by the management company made up of the owners.

    As for the €12,000. If it's built in 1996 it's coming up on 30 years. Every building of that vintage, be it house or apartment, is at a point or close to it where it needs sone of the bigger jobs done - windows, roof, boiler, driveways.

    The costs of management fees vs the similar costs of home ownership are far more similar acriss the years than most home owners realise simply because of the way the expenses occur.

    Don't say that to me. I was born in 1996, you make me feel old; hahahahaha.


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    #43
    Sleeper12
    Registered Users Posts: 17,069 ✭✭✭✭Sleeper12


    dubrov wrote:
    Apartments have actually outperformed houses for the last 3 years.


    Yes because apartments came from a much lower base. They fell more in value 10 years ago compared to houses. Houses then made a quicker recovery. House price increases are slowing rapidly as they are reaching their peak.


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    #44
    skooterblue2
    Closed Accounts Posts: 6,816 ✭✭✭skooterblue2


    PhoenixParker wrote: »
    The contracts are controlled by the management company made up of the owners.

    As for the €12,000. If it's built in 1996 it's coming up on 30 years. Every building of that vintage, be it house or apartment, is at a point or close to it where it needs sone of the bigger jobs done - windows, roof, boiler, driveways.

    The costs of management fees vs the similar costs of home ownership are far more similar acriss the years than most home owners realise simply because of the way the expenses occur.

    That is the last thing I would want to do. Be in with a group of people trying to hammer out a contract and maintenance. I am more of the "We buy once and we buy good with regular small maintenance". As you can probably guess I dont do big business or in a consortium. I like to be able to make decisions quickly and not have to wait for approval from stuck in the muds and tight wads.


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    #45
    Idbatterim
    Registered Users Posts: 17,852 ✭✭✭✭Idbatterim


    Go for the house. Irish Apartments are hell on earth! The relentless noise. Neighbors that don’t give a toss about other residents etc. don’t do it to yourself !!


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    #46
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Sleeper12 wrote: »
    Apartments don't appreciate as much as houses of the same value.

    CSO Residential Property Price Index by Type of Residential Property

    Base Jan 2005 = 100

    Houses

    11/2016 - 95.5
    11/2018 - 108.7
    approx +14%

    Apartments

    11/2016 - 75.7
    11/2018 - 91 .2
    approx +20%

    That's not going to answer the OPs questions though. Where is the property, what's 40k represent in terms of the pruchase price (5% / 50%)? What's the composition of the area, families, renters, young professionals etc.

    Apartment bad, house good is a gross oversimplification.


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    #47
    Sleeper12
    Registered Users Posts: 17,069 ✭✭✭✭Sleeper12


    Graham wrote:
    Apartment bad, house good is a gross oversimplification.


    It is & I have said that apartments aren't bad. I'm saying that in Ireland our minimum size is too small for long term living. Standard Apartments are usually bought to be rented out not lived in. Standard houses are usually bought to be lived in & not rented out.


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    #48
    Franz Von Peppercorn
    Closed Accounts Posts: 7,070 ✭✭✭Franz Von Peppercorn


    holliehobbie wrote: »
    I live beside a small block of apartments. A neighbour told me they were just charged €12,000 each to rectify faults that had just come to light with a change of management company. Something to do with fire safety. These were built in 1996.

    That’s a big problem alright.


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    #49
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    zapper55 wrote: »
    No window in one of the house bedrooms sounds strange. You need to get a survey done asap.

    You talk about if the value goes down things would be tricky for you trading up, if you need to move for kids etc. I think you would be mad to buy a property that wouldn't suit your needs for the next 10 years plus. There are no guarantees in the property market, has the last few years not taught people anything?

    As you said yourself, buying this means you loose your ftb status for a deposit.

    No there is a window in the bedroom facing the front garden but none facing the back...

    There is a ground floor window facing the back just none on the 2nd floor.


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    #50
    Mrs OBumble
    Registered Users Posts: 25,942 ✭✭✭✭Mrs OBumble


    Pheonix10 wrote: »
    No there is a window in the bedroom facing the front garden but none facing the back...

    There is a ground floor window facing the back just none on the 2nd floor.

    Are you saying that one bedroom has no windows at all? Or just ones that face out the side but not to the garden? If there are none, then I suspect that fire standards don't allow it to be used as a bedroom - or counted as one when you are going for a mortgage.

    Also, you said that the house is bolted on to another: to me, that has most of the potential sound proofing issues of an apartment.


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    #51
    zapper55
    Registered Users Posts: 684 ✭✭✭zapper55


    Won't be much good having a window in a other room but not that one if there is a fire. This might all be an irrelevant conversation if a survey tells you that that room without a window technically isn't a second bedroom.

    It would be very difficult for you to sell up. Also would you and your partner be happy in a room with no window? I'd imagine a renter wouldn't.


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    #52
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    Mrs OBumble wrote: »
    Are you saying that one bedroom has no windows at all? Or just ones that face out the side but not to the garden? If there are none, then I suspect that fire standards don't allow it to be used as a bedroom - or counted as one when you are going for a mortgage.

    Also, you said that the house is bolted on to another: to me, that has most of the potential sound proofing issues of an apartment.

    No both bedrooms have windows. Just upstairs there is no back facing window. But the neighbours have them.


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    #53
    august12
    Registered Users Posts: 1,275 ✭✭✭august12


    So, is there a room upstairs with out window or just the upstairs landing area or do all areas have windows but to the front of house.,


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    #54
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    august12 wrote: »
    So, is there a room upstairs with out window or just the upstairs landing area or do all areas have windows but to the front of house.,

    Every room upstairs has a window except the landing. The stairs even has a window facing the front.

    The kitchen at the back has a window. It's only the bedroom above it that has a window facing the front but no upstairs window at the back.


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    #55
    Irish_peppa
    Registered Users Posts: 653 ✭✭✭Irish_peppa


    Based in what your saying I would go house even the small little terrace garden will be a god send during summer few plants etc you could make that cosy enjoy a glass of vino out there amazing what you can do garden wise even with the smallest of spaces.
    https://www.google.com/search?q=small+garden+ideas&rlz=1C1AOHY_enIE708IE708&source=lnms&tbm=isch&sa=X&ved=0ahUKEwjc5bPdqo7gAhWlVBUIHVN3CegQ_AUIDigB&biw=1280&bih=703#imgrc=_snOG_FF8Y0xGM:


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