And another what's it worth

myhome.ie/residential/search … NIJK384981

Here’s a place I’m wanna offer 350k for. I’m interested in what people think it will be worth when the market hits an all time low and when they think that will be, I have 100k I can put against it so at 350k I’d have a mortgage on 250k. I imagine I’d be happy enough there for ten years before I go chasing a Ranelagh redbrick. So will it be worth 350k in 10 years or if its not will it matter as I’d be trading up when prices are low. I could hold off buying but don’t really want to rent as I’ve been looking for a year.

Egads! €610k for a 2 bed bungalow in Churchtown? I’d be very careful with your pennies around this one.

it is 2 bedroom but its 90m2 and that combined with 350 is value for money but to get to 350 you ll need 2 years of anglo shite and bird flu combined

Yeah they’re big enough and with bigger gardens that most in Ranelagh. Plenty of room in the roof and out the back for extension too.

I know these houses. I saw one round the corner on oakdown that was about 100m2. Allegedly sold for 515k (EA’s word!). 350k would seem like a good price. At 90m2 that’s about 4000 per m2. I’m not that up on the per m2 value but there are some other posts on here about it. The big question is will the vendor/ea go for it. Now - maybe not. In a year - for sure they will. When the EA baulks at your entirely fair offer your could just shrug and say that you are advance correcting the market. Or blame the banks saying that’s all they think this little bungalow is worth. It also depends on what you are earning. If as most on here suspect/hope, the market corrects itself to a normal bloody property buying enviorment than the calculation of 3.5 times your salary can be applied. So if you are earning 100k then 350 would be about right. Of course my folks bought a place in Ranelagh in the seventies for 22k which at the time was 3.5 times their combined salaries. I calculated that they would have be on todays eqivalent of 100k. So by that rational someone on 100k should be able to buy a 180m2 house is Ranelagh for 350k - there’s a ways to go yet perhaps. I reckon those churchtown pads will bottom out at 250k. But as my ol man says a house is worth what someone is willing to pay for it - bottom line if you’ll be happy there for 10 years and can get it for 350k - it’s probably a safe bet.

Good advice McNulty. Thanks. I’m on 100k at the moment and the missus is on about 30. For now… for now.

It is not a bad area. It will end at 140,000 to 190,000.
Might end much lower, hard to say because the area is developing into something I cannot mention here.

Bertie. Whatever do you mean. Why can’t you mention what the area is turning into. Don’t leave me hangin’. I know there’s an oul tower block on the corner of nutgrove av and churchtown road. But there’s only one and twill sure fall if it’s not knocked. Otherwise it’s the right side of the Nutgrove av divide. Plus I met a few locals living on the roadwho seem like a nice humble bunch of people.

Do you have any kids? Are you planning any, because a 2-bed will rapidly become too small, even with one child you have no spare room - relatives kipping on the sitting room sofa etc. Would you not hold out for a 3-bed. Also if you want to trade up to another area later on, a 2-bed will have limitations in terms of re-sale as it will never appeal to a family.

Sorry. Best I can do is tell you to have a very good look around before you buy.

Are they “tekkin all r Jawbs???”

Motorway would be the obvious one. Just an educated guess though.

It’s definitely not a motorway. But Bertie’s awfully cryptic - anyone living in Churchtown or knows the area well who’d care to share some light?

Might find some info here:

askaboutmoney.com/showthread … churchtown