Does this make sense?

Commuter belt apartments tend to be Celtic tiger builds, and they tend to have a quality that, shall we say, lacking. I saw an apartment in City West last year that was going for 230k. The apartment itself was well furnished, but the building itself did not look great.

The problem with apartments is that you are at the mercy of whoever maintains the building. If a serious problem in construction is discovered, you are in trouble. I know someone who was landed with a 25k bill to fix the roof of the building a few years ago.

That said, I do believe that renting is dead money. In your shoes, I'd probably buy the apartment. It's a risk, but if one takes no chances, they will make no gains.

I know someone who knows someone who says otherwise.... ;)

Don't misunderstand me. Not all Celtic Tiger apartments are cardboard, but I've just personally had a lot of bad experience, so I will have a jaded opinion. I'd take an apartment over renting any day, but there are manifest issues with apartments that one should be aware of before buying one.

Buy new apt

If one can be found. Virtually all new builds are rental-only.

One thing to consider, as obvious as it may sound, unless you plan on a variable rate mortgage, you won't just be able to make 100K of payments towards the mortgage in 5 years (assuming you're planning on trying to just keep up the rent-type payment amounts to quickly pay down the mortgage). And even if you do, that won't be 100K off what you borrowed.

I'm about 5 years into a mortgage and have made about 50K in repayments, but only 20K has come off the principle. 30K of it was just paying interest!

OP you really should at least consider a house - Ive just had a quick look online and the above are houses that are for sale for €225K and below - Ive just looked at Navan and Drogheda. There may be even better value elsewhere.

Ive seen plenty of people regret buying an apartment.

Not like it happened before🙄

Did you miss the other factors in play? Rental property with low rent is worth less on the open market. Who know what legislation is coming that could tie property to being rented permenantly could easily devalue any property rented. Do forget when rents were falling the government reduced HAP and increased taxes and charges to landlords. Not as safe as you think

One of them is in East Wall not North Strand which is litteraly on the wrong side of the track. The "North Strand" property would be considered Ballybough by locals and part of a set of houses sold in bulk where the local residents protested and threatened anybody going to view them. Very small property and the streets there are constantly filled with rubbish from fly tippers and local residents. Wouldn't advise buying them as I know the area very well.

To be fair though, just because they are for sale at 225,000 doesn't mean they will sell for that.

They aren't in the same area and when it comes to inner city Dublin a short distance makes a massive difference. The North Strand community is quite strong and lots of professionals live there now. I wouldn't consider either of those houses part of that community nor part of the same community as each other.

There is a lot of development coming to North Strand. They are finishing up the building by the bridge. The fire station is going and an apartment block there and the old cement factory. The red brick shops are going to have major work to be an apartment block as well. Interesting to see what that will do to the area. THe chipper is already gone and an nice samll resteraunt and there is a fancyish coffee shop. Not sure if it will continue to gentrify or flip back to a rough area. Only time will tell