Pick to live or rent Templogue or Lucan

bb220

Hi,
I am looking to buy a house within 300k and max 330k. I am getting some options to buy between the below choices. Can you pls tell me the best place to buy out of the 3:

A 2 bed town house with a little backyard at Pine Grove, Templogue D16 priced at 330k. Old but nicely done a 1990 construction.

A 2 bed apartment in Clontarf opposite the sea old but nicely one around 1984 construction at 315k.

A new 3 bed house in Shackelton Park, Lucan. This is a new development of about 500 houses at 340k.

My long term plan is to live in the house for 4 to 5 years and then either sell or rent the house( preferably sell if I can) as I will move back to my country. I will want to rent it to a family. I am paying 2k as rent from the last 3 years.

I getting pushed towards Templogue considering that it might be difficult to rent in lucan for that big mortgage, but I dont know how good is this part of templogue.

Regards

JustAThought

I’m not sure why you’d take that financial gamble in this climate knowing you will be moving in 4 or 5 years. Regarding universities, the typical guaranteed cash cow for renters in the T area, this whole sector is now practically online and God knows where it will go in the next 4/5 years - not to mention major international students issues and God knows what happening in the business sector regarding employment etc . Lucan at that price would be a huge risk and Clontarf thou beautiful/ desirable etc is still an apartment which will be pushing 50 years old when you go to sell it...

If I knew I’d be spending or borrowing to spend over a quarter a million with a global recession and God know what changed in the viability of whole sectors of the economy for such a short them basis I’d be holding off and waIting & keeping that money in the bank or not yet borrowing and taking on that risk for such a short term project.

You know as someone renting all the risk of them noy paying the rent and camping in the house as ling as they want are entirely yours even if they get and continue to get state payments to pay the rent , and that recent leglislation has made it effectively illegal to evict someone who says they cannot pay the rent? How long will your savings last in this situation paying for a mortgage in a house someone else is living for free in? Have you factored this into your calculations? I know two people currently affected by this - nightmare situation. Peoples sense of entitlement to use your asset for free is enormous in this country - regrdless of how plausible, well educated and decent they seem when they want to rent your place. There are zero state supports in place to help anyone who becomes unemployed who has a mortgage, or whose tenants default - it is up
to you to pay for the high court eviction and without them having Irish assets you will never see the rent or debt paid - or legal fees compensated for. Renting is now superrisky in this climate.

Usual questions about what suits you regarding commute, family etc.

delta_bravo

I would probably call that area ballyboden or knocklyon but that's another day's work.

Without knowing specifics of properties I'd go for pine Grove as you're reasonably well serviced by bus routes there and five minutes from the m50 and could walk to town in under an hour or cycle in 25.

Lucan is trickier, probably too far of a walk and buses can be very slow at the n4

Edgware

delta_bravo wrote: »

I would probably call that area ballyboden or knocklyon but that's another day's work.

Without knowing specifics of properties I'd go for pine Grove as you're reasonably well serviced by bus routes there and five minutes from the m50 and could walk to town in under an hour or cycle in 25.

Lucan is trickier, probably too far of a walk and buses can be very slow at the n4

Intel and Hewlitt are two big employers in nearby Leixlip. You might get some long term tenants from there possibly non Irish who are in good contracts.

bb220

JustAThought wrote: »

I’m not sure why you’d take that financial gamble in this climate knowing you will be moving in 4 or 5 years. Regarding universities, the typical guaranteed cash cow for renters in the T area, this whole sector is now practically online and God knows where it will go in the next 4/5 years - not to mention major international students issues and God knows what happening in the business sector regarding employment etc . Lucan at that price would be a huge risk and Clontarf thou beautiful/ desirable etc is still an apartment which will be pushing 50 years old when you go to sell it...

If I knew I’d be spending or borrowing to spend over a quarter a million with a global recession and God know what changed in the viability of whole sectors of the economy for such a short them basis I’d be holding off and waIting & keeping that money in the bank or not yet borrowing and taking on that risk for such a short term project.

You know as someone renting all the risk of them noy paying the rent and camping in the house as ling as they want are entirely yours even if they get and continue to get state payments to pay the rent , and that recent leglislation has made it effectively illegal to evict someone who says they cannot pay the rent? How long will your savings last in this situation paying for a mortgage in a house someone else is living for free in? Have you factored this into your calculations? I know two people currently affected by this - nightmare situation. Peoples sense of entitlement to use your asset for free is enormous in this country - regrdless of how plausible, well educated and decent they seem when they want to rent your place. There are zero state supports in place to help anyone who becomes unemployed who has a mortgage, or whose tenants default - it is up
to you to pay for the high court eviction and without them having Irish assets you will never see the rent or debt paid - or legal fees compensated for. Renting is now superrisky in this climate.

Usual questions about what suits you regarding commute, family etc.

Thanks. Me and my wife work in Dublin and will be extending our family soon. My simple maths is that if I stay in Ireland on rent then I end up paying (2k*60) which is 120k and if i end up staying little more then it will end up being close to half of the price of the house(150K approx). I would rather not rent then after 5 years and would want to sell and the way I thought was that even if I sell 50k less then my purchase price, then also I would have saved 100k on the probable rent i am going to pay in that span. M I making any sense to you?

bb220

delta_bravo wrote: »

I would probably call that area ballyboden or knocklyon but that's another day's work.

Without knowing specifics of properties I'd go for pine Grove as you're reasonably well serviced by bus routes there and five minutes from the m50 and could walk to town in under an hour or cycle in 25.

Lucan is trickier, probably too far of a walk and buses can be very slow at the n4

Thanks, yes it is more close to knocklyon. I have no idea about the location. I wanted to know if that area is safe enough for non Irish and if I want to sell or rent in few years min 5 yrs then do local ppl prefer that kind of accomodation and location? Thanks in anticipation.

JustAThought

if either you, or your wife lose your job or
jobs or a percentage of your income and are renting you will be supported by the state and can live safely with no risk courtesy of your rental status. If you buy, or borrow to buy, and either you or your wife lose one or both of your incomes or suffer a loss of income due to decreased hours and are at management or relatively senior level and have a mortgage you will recieve zero financial support towards paying your mortgage. Nothing. You cannot hand the keys back and walk away - you will still be eligable for the full amount of debt. If you chose to rent out as is in your plan 50% of your rental
income will be taxed and due upfront and the new Covid 19 emergency leglislation make it impossible for you to evict non paying tenants even if it sends you into debt and even if they are 100% in the wrong there still will be no financial comeback for you - BECAUSE you are
a mortgageowner. Glass half full
versus glass half empty but given the global recession that has hit, the collapse
of traditional rental income streams and the likliehood of further mass layoffs and unemployment which could hit both your indistries and your target rental market I again would err personally on the cautious side and not take the quarter a million plus plunge into debt you are planning. Should you need finamcial help as a
renter you will have money flung at you - but as an owner you have nothing to fall back on or assist you. Repeat all precious statements. I
guess its down to how well your crystal ball predicts and how well your personal lucky charms work . I wouldn’t do it and certainly not as a non national planning to move back
in a few years and who knows they will be losing a percentage of one salary soon die to incoming baby/babies!

As regards your extremely wide net where are you both working that a Lucan/Knocklyon/Clontarf/Templeogue commute might suit - or have you both helicopters or tardis
for your daily commutes for the next 5 years?

ted1

Clontarf and Templegouge mush the same, good areas , proximity to schools , town, parks ( clontarf wins with beaches )

Where as Lucan is outside the M50 and in many parts a sh1th0le

ted1

bb220 wrote: »

Thanks. Me and my wife work in Dublin and will be extending our family soon. My simple maths is that if I stay in Ireland on rent then I end up paying (2k*60) which is 120k and if i end up staying little more then it will end up being close to half of the price of the house(150K approx). I would rather not rent then after 5 years and would want to sell and the way I thought was that even if I sell 50k less then my purchase price, then also I would have saved 100k on the probable rent i am going to pay in that span. M I making any sense to you?

Are you factoring in estate agent fees, solicitor fees, local property tax, interest rates , etc? For short periods renting can be more beneficial

JustAThought

ted1 wrote: »

Are you factoring in estate agent fees, solicitor fees, local property tax, interest rates , etc? For short periods renting can be more beneficial

Fit out for house if not a showjouse - downstairs flooring up to 2k, ditto upstairs, e800 per couch/ditto minimum for kitchen table & chair set/ ditto per bed & matresses, kitchen whitegoods - cooker say e500, fridge freezer e700, washing machine say e600, dishwasher say e600 plus Plus
Annual house insurance, additional insurance costs for renting out the property, management fees, getting/ selling out of a fixed interest bank loan, cost of interest borrowings as the
global economy crashes around us, increased commute for one or both parties to work - petrol costs (Lucan is fAR !), capital gains tax on the profit you hopefully make on your house/apartment, 50% tax payable on your rental income in advance, the hidden in plain sight floodplains of Dumboyne etc

You have a four year plan with huge set
up costs and risk and after that a plan to rwnt (50% taxed) and even greater risk.


My boiler went on me last year - cost about 4k to replace. I’m still getting over it! My neighbours rent - guess who paid for theirs to be fixed on top of their own mortgage!

I’m only saying OP this is a risky time - I’d be biding my time and not rushing in or could
you buy to rent out in your own country and actually have some protection and security from rent defaulters that way and actually get value for
your money and own something desirable, spacious, well built and good value?

Also where are you domiciled for tax reasons? Might make a difference.

JustAThought

To be positive and helpful have you read this thread in Shakleton thread?

https://www.boards.ie/vbulletin//showthread.php?t=2057741704&page=48

It also mentions a homeowners fb site for
this area and mentions issues around phase 2 with social housing and a block being appropriated for it.

I havn’t read this thread but there is also another thread on the go about someone about to buy elsewhere and looks for advice when they find their neighbours will be social housing tenants. The likes on some of the comments speak volumes. Might be of interest

Clontarf is beautiful, leafy suburb etc
Templeogue traditionally a good area but congested - would you rather live or be stuck with a place inland near to lockdown shops and cafes or near to lockdown shops and cafes beside a 100 acre park of St Annes in Raheny and beside a unesco world heritage protected seascape and area of outstanding natural beauty? (Clontarf).

Where would you rather advertise to rent out, or be stuck owning and having to live in? And then In a lockdown?

Work/Commute/Other variables that are important to you.

Nuttzz

JustAThought wrote: »

To be positive and helpful have you read this thread in Shakleton thread?

https://www.boards.ie/vbulletin//showthread.php?t=2057741704&page=48



Clontarf is beautiful, leafy suburb etc
Templeogue traditionally a good area but congested - would you rather live or be stuck with a place inland near to lockdown shops and cafes or near to lockdown shops and cafes beside a 100 acre park of St Annes in Raheny and beside a unesco world heritage protected seascape and area of outstanding natural beauty? (Clontarf).

Where would you rather advertise to rent out, or be stuck owning and having to live in? And then In a lockdown?

Work/Commute/Other variables that are important to you.

My folks live in Clontarf, fantastic place to live, I have lived in Templeogue, another fantastic place to live, the dublin hills around Bohernabreena are 5k away, the Wicklow Mountains National park is 15km away, far better places than St Annes, You couldnt go wrong with either place imho, lucan wouldnt register on my radar compared to the other 2