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Given that I have the money for both is there a pragmatic reason for buying a house o

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  • 06-07-2021 10:35pm
    #1
    wherearewe45
    Registered Users Posts: 204 ✭✭


    I have the money saved for a deposit. I can afford a 2 bed apartment in a city centre or a 3 bed house in the suburbs. House would be worth more but personally I've no real preference of one accommodation type over the other - I'd be "future-proofed" for family reasons in both.

    I'm really just asking from the point of view of a pragmatist, is there a benefit of one over the other?

    There may be the possibility of me renting it out in the future if I was to move for work.


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    #2
    Del Boy
    Registered Users Posts: 50 ✭✭Del Boy


    wherearewe45 wrote: »
    I have the money saved for a deposit. I can afford a 2 bed apartment in a city centre or a 3 bed house in the suburbs. House would be worth more but personally I've no real preference of one accommodation type over the other - I'd be "future-proofed" for family reasons in both.

    I'm really just asking from the point of view of a pragmatist, is there a benefit of one over the other?

    There may be the possibility of me renting it out in the future if I was to move for work.


    No annual charges with house. An apartment could be as high as 2-3k a year.

    House was outside space usually.

    Apartments generally built poorly in Ireland.

    Look into safety standards in apartment block if you buy. Are safety standards met.....fire regs etc. So many complexes have problems. And it could mean big payout in medium term.

    Don't buy in small complex. Bigger is better in that any problems means costs split between big number of owners.

    You can usually expand or improve a house and add value. Hard to do the same with apartment.

    Location is always the biggest factor when buying.


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    #3
    [Deleted User]
    Posts: 1,344 ✭✭✭ [Deleted User]


    Depends where you are in life really, and what your medium/ long term ambitions/targets are......kids/ family......commute, schools in area. As Kirsty alsopp says it's all about "location". There's a LOT of variables in deciding on which property you'd be better off going for...... personal choice being the main driver.


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    #4
    pjdarcy
    Registered Users Posts: 293 ✭✭pjdarcy


    As an apartment owner, the main thing I miss (especially during the summer) is a garden. I'd love to be able to have a BBQ during the summer or just sit outside and read a book in the sun.

    Also, you may have neighbours directly connected to you on either side (not to mention above and below) so if any of them are inconsiderate, noise can be an issue at times. Check if the apartments connected to you are owner occupied or rented out. In my limited experience, owner occupiers are more considerate neighbours.

    The other thing I would mention to a first time buy is to consider how busy the road outside the property is. Road noise can be incredibly annoying and prevent you from being able to have your windows open at busy times.

    Finally, will you be getting an electric car in future? Installing a home charger may be a problem for apartment owners.



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