Neighbouring House Asking +€110k in 4 months … 18/2779203

No. 23 which is the other half of this semi-d was asking €385k and went Sale Agreed in Nov just below asking. I understand it was a bank sale and bank pulled it for whatever reason.

Neighbours now seeking €495k just 4 months later 8DD

Mitigating factors: 23 was a bank sale, ex-rental, needed new kitchen, maybe new bathroom and a good lick of paint, new carpets/flooring.

24 is in walk-in condition (although bathroom and living room are not to my taste, but that’s subjective), has gates at front and is a ‘normal’ sale, but stick a price on all that and I’m a good way short of the €110k premium. Also, factor in possible negative of living next to a vacant house currently in limbo. Any thoughts?

Calculate the hard added value (including project management cost). Add the PPR increase/decrease (per ppr tracker sites). Add a walk-in premium vs. dump (views differ but I’d say 8%). And set that as your max bid.

After once having established the value of the sale which you’re comparing to.

A couple of thoughts - since I live not far from here and pass it every day.

  1. It’s in Deansgrange - not Foxrock. (It doesn’t matter what the address says - in the same way that Howth Road Raheny, isn’t Howth.)

  2. Nice modernist/minimalist decor.

  3. First time I’ve seen a TV on a windowsill.

  4. Handy for LIDL, the Library and Libero’s chipper.

Thanks for the reply. What project management cost? Only tiny structural difference is they have converted the giant, unsightly chimney in the living room into a giant, unsightly TV box/wall.

I’d have plucked a figure out of the air around the €415k mark: 20k for kitchen/bath/floors/paint, but just a 10k premium for being lived in, interesting to hear 8%.

Thanks HiFi. Fully aware it’s ‘fake’ Foxrock, hence why I think €495k is a bit outlandish.

Agree on most decor except hideous bathroom and the chimney conversion/integration.

Really like the location for shops etc, but traffic noise in front rooms of 23 was pretty bad, that road is very busy so maybe not ideal for young families. Should also have mentioned 23 was beside crèche on other side, which could be a negative?

It’s well finished and if the other place needed a good makeover, 50k goes a long way. The thing which struck me (as parent of 3 under 4) is how that minimalist decor wouldn’t look like much once the place is full of Lego and playmats!! To my mind (and you can say it’s a sign of our pampered lifestyles and the amount of stuff we all have) but 1,000 sq ft is just too small for more than one kid, so if that’s a consideration…

Yes, and any refurb investment gets heavily discounted by the next person moving in: not done the way they’d want it no matter how nice. I’d obviously rather buy a house for 250k and then spend 50k on refurb than buy a house for 300k that’s recently been refurbed and got garbage like built-in TV.

The garden isn’t so small. If you planted a few fast growing trees/hedgerow for shelter, kids could spend a lot of their time out there.

€500k for a three bed semi is nuts.

The fit-out was a lot more expensive than €20k.

25k at least

In my world “a lot” is considerably less than €5k :slight_smile:

I stand corrected, haven’t done one myself so complete guess.

Agree with Col. Max’s point that any refurb immediately loses a certain % in the new buyer’s mind. House size is okay for me, living room felt much bigger next door but is obviously the same, 2 of the 3 bedrooms are quite pokey though, felt small even when empty.

At least some pinsters haven’t lost their mind! The only discussion here should be the fact that half a mil for a small unimaginative concrete box is completely nuts, but such is the conditioning of human minds in modern Ireland that this kind of nonsense is once again being entertained as ‘normal’.

God help us!

I felt that went without saying, would imagine you’d struggle to find many on here who think there’s any value in current Dublin prices/houses.

Update - appeared on PPR at €500,000 so asking + €5K.

Decor is very…B&Q…

So this house made €500/sq ft, obviously ridiculously over-priced. But is “fake Foxrock” now making as much or more/sq foot than the other bit of Foxrock parish to be found on the other side of the N11? Tut, tut, the grandees will be choking on their G&T’s…

Bit of a strange one considering the main road/traffic and being attached to a vacant house, but it only takes one or two interested parties and off you go.

Whats the issue with the vacant property next door? Its twice you have mentioned it.

Dont know many people who would have an issue with a house with no neighbour in it, its a bit of peace and quiet more than anything!

Fair point, lots of positives such as the peace, no boring neighbour chit chat or twitching curtains, no yapping dogs, but would be worried about:

Fire hazard, squat risk, infestation risk, no cheery neighbour chit chat. :smiley: being attached to a non-maintained house might eventually be an eyesore…

A lot of extremes there but would feel less secure in general.