I’m interested in buying a small site in Blackrock/Booterstown area if I can find one. Say about .05 to .1 acre in a middle of the road part of these townslands. Prices seem to vary widely for land so I was wondering if anyone could give me a ballpark of what you’d expect to pay realistically for this?
Something from 0.5 too 1 acre could be anywhere in the region of 300k too 2million.
On an acre you could get a small apartment block, or 6 to 8 houses of good size.
You would also have to consider your hidden buildings costs such as council contributions, an open road contract if you cant access sewer or surface water (or both) on site. That can range anything from 12k - 40k plus a cash bond of the same for 2 years.
Also water connection if it was not on the same side of a road as your site you would then be subjected to another open road contract but this would be slightly cheaper than the drainage contract without a cash bond.
All of the above are just some of what will determine a sites value with or without planning and not the price tag an estate agent puts on the site.
Been there done it, still doing it ,sites have many many hidden headaches.
This. Many people would like a blank canvas but there are too many half ass houses (think shitty 70s houses) which don’t quite justify demolition. Retrofitting insulation etc will always be a compromise,
an argument for a site value tax perhaps?
I guess people valuing new builds based on house quality rather than just bedrooms (“how many renting professionals could I squeeze in here?”) would shift that balance.
I’ve been looking for a few years for a modest site in a wide range of suburbs in Dublin. And unfortunately I have to completely agree with everything that has been said up to now: I’ve not come across one site that I thought made rational, financial sense to buy. There have definitely been a couple that I would have been happy to get, but even putting in offers that I felt were overly generous has gotten us nowhere.
Rather than viewing the time delay and hassles that are associated with building as a reason that the price should be lower, instead this “blank canvas effect” seems to push the price up. There is so little difference between the asking price for a house and the asking price for a site, that (given that the house probably has a better location) I would wonder whether it would be better to buy a house and knock it, rather than buying a greenfield site.
I’m now wondering whether the better way to go is the German model of where a couple of interested parties who want to build come together to buy a larger site and divide it into lots. Just as with houses, I feel that what value there is lies towards the higher end of the market, both for houses and sites.
Is there any way you could approach Nama, with or without other interested parties, looking to buy a site? For instance that big house/site in Lucan seemed to be sold off handily enough pricewise to Enda Farrell (but of course he knew who to approach in Nama).
Thanks all. That’s interesting about Kennilworth. Does anyone have anyone any idea how much it would cost a developer/builder to build a standard house which is finished (bathrooms, kitchen and paintwork incl.) of say 1500sqft before the markup for profit when selling on?
I haven’t visited this site or even viewed it on Google Earth. There may be catches galore but it seems to promise a decent family house in a goodish area for around €300,000 (based on 80k for the site + 200k to build about 150 sqm + 20k for sundry extras).
I don’t really see how having your partners as future neighbours is any different from when you buy a house. It is still something of a lottery as to who will end up living beside you. Either way, I’m a big believer in the theory that “good fences make good neighbours”.