Hi Folks, just looking for some opinions on 1 Bed apartments in the Kildare area.
What would be a good price to pay for a 1 bedroom in Kildare, what is the market like ? Considering the mortgage would be a lot less then rent (on a 35 year term ) what would be the negative side of this.
Any advice from people familiar with this market would be appreciated.
Maybe €60k if its a nice development, decent size, with a low management fee and dedicated parking.
If its any smaller than 60sqm, knock €1k off for every sqm short of that.
I would strongly recommend you do not buy a 1 bedroom apartment unless you’re a landlord and the sums make sense. Nobody wants to live in a 1 bedroom apartment.
In 3 years time when you’re sick of living in a small 1 bed apartment and listening to the various noises of your neighbours you can go rent elsewhere.
You’ll have 32 years left on the mortgage.
I love 1 Bed apartments. Im about to rent one with my girlfriend and its excellent.
Wouldnt buy it to save my life tho
I have to agree with previous posters stay away from 1 bed apartments- a small 2 bed house would be better at least there’s some room for growth. Never mind getting fed up after 3 years - I get fed after a holiday in an apartment or hotel purely the lack of space gives me cabin fever.
At those prices I can see why someone might be tempted.
Particularly when 1 beds in Athy seem to be on at about the E400 mark and in Newbridge at E500.
I don’t know enough about Kildare to be able to say anything useful about what could be considered value in the area, at a guess I’d say 10 times annual rent as a gross yield.
To live in, hmm, you’re 28/29 I’m guessing, chances of you outgrowing a 1 bed apartment in the next 3 - 5 years are high. Stamp duty costs, solicitors costs, depreciation, surveyors, estate agents fees to sell . . . you’ll lose money compared to just renting a 1 bed. How will you feel if you buy a 1 bed apartment now and in three years you could buy a 3 bed house for the same money?
when the sinking funds in these places go to shite as I’m sure they will the assets will be more like liabilities
High density housing - apartments - in low density areas - provincial towns, city suburbs - make no sense. I think that will become more and more apparent as the years pass. They are an anomaly of a property bubble.
These might be tempting **O N P A P E R.
However, I strongly suspect the eventual puchasers will be buying rather more than a 1 bed apartment…they could in fact be buying PROBLEMS…
In fairness buying in Newbridge wouldn’t be considered a low density town - if I was going to look in Kildare county Naas or Newbridge are your best bets if that’s the county you have your heart set on but I would still go for a small house rather than an apartment