Fun and games in Limerick

This is gas.

I returned to Uni in Limerick for the year. Back in October i moved into my estate (16 houses in total) and i noticed that the house next door was for sale.
Now 8 months later Its still for sale & I have only seen one group of people view it since i have been here The crazy thing is that the asking price has actually INCREASED by 5000 since december.
Anyway i came home yesterday to discover another house in the row with a for sale sign in its driveway (same estate agent)l. So someone else is selling up I though.

Now I was just about to log onto Daft to check how much its going for and low and behold whats that banging I hear from outside??? The same estate agent putting a sign up across the road on ANOTHER house.

Here are the price for 3 identical houses from the same estate agent.

Now these house are IDENTICAL. except for the fact that they have ‘more bedrooms’ ie other rooms have been converted

285,000 - 7 Bedrooms, 2 Bathrooms, Semi-Detached House
275,000 - 6 Bedrooms, 2 Bathrooms, Semi-Detached House
265,000 - 4 Bedrooms, 3 Bathrooms, Semi-Detached House

How can identical houses have such differing prices? The only difference between them is the fact that some of them have beds and lockers in rooms instead of dining tables & couches.

I dont get it.

:astonished:

ah. the 4 bed has a dining room & garage. The other houses have “converted” the dining room into a bed room. ie put a bed in there. The difference between the 6&7 bed is that with the 7 bed you get two bedrooms squashed into the space where the garage used to be, whilst with the 6 bed you get just one.

Anyway. It pretty surreal being able to see so many for sale signs from my bedroom window.

:laughing:

ohh, why not put a camera on the windowsill and make a timelapse film? One photo each day at midday. String them all together a year later and you can watch the seasons pass buy as the for sale signs increase.

I was going to do this out my window but there is a tree in the way of the sign I wanted to snap.

And you can be sure anyone wanting to buy it as a home will never buy an ex student rental property on a student estate. So the only market for this sale is investors who are all apparently trying to off load themselves. Wonder why :smiley:

Can you tell us how much these houses earn in rent for a year to students?

Surely you’d only be looking at 8-9 months max of rental income there with a long 3 month period of vacancy.

Just look at maynooth. Lots of rental inventory there you get a bigger place there for your rental € thant closer to Dublin of course.

Im in a 6 bed. And our rent = 1500 euro a month. Someone can figure out the yield on that for me. I dont know the maths . :blush:
The house is lovely, and well kept. Its probably one of the best in the estate. ie landlady only rents to postgrads so she looks after us well.

This place will be pretty dead come the end of may.

You have to remember that the University are building LOADS of on campus accomodation atm. Most of the traditional estates where students used to live around here are now half and half eastern european builders & students.

3 houses for sale on my road. A cul -de sac in Maynooth. They have been on the market for quite a while.

You can rent a nice 3 bed in maynooth for 1200. Thats my plan for a post wedding house :wink:

Beats my 6 bed rental 3 miles from city centre.

Out of interest what locality are you talking about? Maynooth, UCD, DCU etc. etc??

:laughing:

University of Limerick. (the thread title gives it away surely?) :wink:

I take it back, for a Dublin price the relative Limerick price should be 1200 :wink: