FTB in dire need of help


#1

Hi all,

I come seeking advice from those more learned than I.

I am currently looking to buy my first home in or near Dublin City and am nearing wits end . My unfamiliarity with the greater Dublin area means I am rather clueless.

I have rented in Dublin for the last 12 years but in either D4 or Dundrum…neither of which are within my budget to buy.

I have a decent deposit but given LTI rules and the current absence of exceptions my budget is a price of max e280k. Ideally I would be looking at a two bed apartment In turn key condition. I would be nervous about a house given ease of break in etc.

I’m a single girl living alone so safety is a consideration, and I don’t drive or cycle so the location has to be well serviced by public transport. I work on Baggot Street and don’t want to spend more than an hour commuting.

I realise as I write all this that my demands may be too many!

I found this apt by accident today and it seems too good to be true…can anyone advise as to the catch?
[https://www.daft.ie/dublin/apartments-for-sale/royal-canal-park/9-beacon-magellan-crescent-royal-canal-park-dublin-2595979/](http://Royal canal bank)


#2

If you want to walk to work on your budget then a two bed apartment with a car space in Dublin 8 would suit.

As a woman the last 100 feet of your commute will feel the most precarious, so that needs to feel secure to you.

Personally I would rent near Christchurch for 6 months and get to know the area. You have a vibe of ‘desperation to buy’ - which can be expensive.


#3

With the current Pandemic a lot of investors are jumping ship, I’ve seen plenty of great apt’s come down in value by 20-25%. Having lived in D4 and Dundrum I think the best bet would be the north docks.
Luas red line and easy walk across the bridge.
Places like castleforbes are only 10% outside your budget. Another lock down and you’ll easily pick up a 2 bed. And if you decide to move on you’ll never have an issue renting it out.
Last 2 bed to sell in castleforbes was 313k.


#4

https://www.auctioneera.ie/property/apartment-62-fitzwilliam-quay-apartments-ringsend-dublin-d04-x773


#5

Do you really have to buy right now? Theres a lot of uncertainty about at the minute and while things may just rebound to normal, many people suspect we’re in for a significant recession (is your job recession proof ?). Even if the recession is not as substantial as some suspect, others feel that the trend toward working from home may change the property landscape for good. On that basis, many are of the view that waiting until 2021 before deciding what to do may be the most prudent approach.

If you are dead set on buying something right away, I would certainly make sure that the area you choose is one where you will be happy living for a long time ie if a prolonged crash were to occur post purchase, you would be left with significant negative equity meaning you woukd be unlikely to be able to move for some time thereafter. Also, as youre probably aware, apartments tend to be hit more than houses in terms of value.

If youre going to be able to work from home a few days a week or more I woukd suggest looking further afield than inner dublin as you’ll get more bang for buck. Your work is located close to the Dart which gives you options. If youre dead set on purchasing an inner Dublin apartment Dublin 8 or Dublin 7 would be my choice of postcode. Close to the the city centre and luas in either of those codes woud have been desirable for singletons within your price bracket (cerca 250k) until now. However, again, there is a caveat that working from home has the potential to change all that and may see many people, who no longer need to be in the office every day, move futher out.