Any thoughts on what to pay for this? Annesley Park,Ranelagh

17 Annesley Park
dng.ie/search_detailed_resul … 1355&pos=3

Needs a basement floor dug out and converted to a utility room and study
Windows for basement
Needs an extension built to create a master bedroom
Create ensuite for bedroom
Rewire
Replumb
Plaster work
Damp proofing
Repointing
New railings
Two stone period fireplaces - originals must have been sold off
All Sash windows repalced
Three new bathrooms
New kitchen
Etc…Etc…

Thats quite a long list, could take 9-12mths to get it done
House would be about 2,100 sq foot when finished
I am told similar work being carried out on the road is costing 300k

where does that put the bid on this house?

Buy nothing before the fall of NAMA.

moved to Sell, Buy or Rent? from NAMAWatch…

A refurbished one right next door (with the ‘cellar’ space converted to a kitchen/living area) sold for 1.7m in 2004/2005. One a few doors up towards the top of the road sold very quickly (in about 3 weeks) for about 900k earlier this year.

Yes no. 31 sold last December for 850,000 through Gunne.

But post budget and with a bleak 8 months in the economy this year who knows what this one is worth.
Nice house, good road

31 is a protected structure. If 17 is too, then the cost of renovations will be more than if it isn’t…

Yes, the whole street is protected. Can’t put windows in the basement in the front of the house. No double glazing etc…

It has potential for about half of that asking. You can do a lot better for less money in D6 already and the next few years will only bring more opportunities at lower prices. It’s not like there’s a shortage of red-bricks in the area in need of modernisation and I’d imagine that the glut of new apartments hastening the end of the bedsit/10 ‘units’ in a big old house era together with investors who’ve been stung elsewhere being forced to sell up and people who overstretched themselves to buy ‘trophy houses’ during the boom will add to this.
Some examples:

www.daft.ie/1444488

myhome.ie/residential/search … TUSB410775

I agree with theschmuck on this one.

There will be a increase in the number of houses for sale which were formally in bedsit/flats. There is a huge amount of these in Ranelagh/Rathmines/Rathgar/Terenure, and with apartment rents getting cheaper by the day, the day of the bedsit is almost at an end.

+another1
If you think the current prices for houses that don’t need renovation will stay at their current levels then 500k is the tops for this. Its a good location and the gardens are a good size but I would think that good examples of these houses will be available for less than 500k in the next couple of years.

In addition to the point about the bedsits there is also a question of demographics here - if you look around Ranelagh there are a lot of houses that are owned by elderly people - these are coming on to the market in a steady trickle and there is nobody in the normal replacement demographic of the boom (30 something ‘high fliers’) who has the money to afford them. In some cases they, or their relatives, have given up trying to sell and are waiting for the market to ‘pick up’. The elderly generation who are currently moving on were mainly civil servants who were thirty somethings in the depressed 1970s and were the only folks who could get a loan - plus ca change. Ranelagh prices for the foreseeable future will be dictated by what the lenders will give on two civil servants salaries 3.5 + 1.5 on 65k + 65k is 325k - assuming they don’t have -ve equity to deal with on their current properties.

Hello theschmuck
I see you are useing my house as a example
daft.ie/1444488
so what are you saying? are you saying its good value or are you saying we overstretched ourselves? intrested to know.
Sale nearly agreed anyhow BD

I’m saying that the asking price makes the first house mentioned look like poor value. What is the sale agreed price? I might be up for some late gazumping if it’s low enough. PM me if you don’t want to say here.

I could be wrong but I got the impression that Ranelaghguy has just bought that house…As I say could be wrong! :confused:

I remember those house selling for 1.5m, and for 150k.

I sure the real value is between the two.

I have heard that this house is owned by the next door neighbour. They also own the large factory site behind the house that you can see on Live maps. Might be concerned about future development here

Very good point on the bedsit supply. The Sunday Times Home section had a spread on this that was very interesting.

Where are the rules concerning listed buildings to be found? Just wondering about this, I did think you could put double glazing in if the windows were “sympathetic”?