Thinking of buying D14 ish area


#1

Thinking of buying (prefereably a house not apt.) in the coming 6 - 10 months in D14 ish area. Myself and the missus both work in Clonskeagh but I think there is not much value (IMHO) to buy there, and is probably too expensive anyway.
Looking to spend max 300 and more like 250K. Seeing some cheaper houses in some parts like Whitechurch in rathfarnham… and then you find the area is bad with unruly kids coming out at night etc etc.
Kind of stuck to see a decent area with decent prices right now - any ideas? Changing to look in a different area might be more fruitful?


#2

As someone who has lived in the D14 area for the last 15 years or so these strike me as decent estates with decent houses (although they could probably do with a bit of work). Both are 4 beds too!

myhome.ie/residential/brochu … -16/280510

myhome.ie/residential/brochu … 16/1448633

Interestingly both are being sold by Gunne.
Bear in mind that you can probably knock another 5-10% off the asking prices, and stamp duty is now only 1% so you could probably get the Barton road one for €250k now including all outlays.


#3

If looking to ultimately spend 250 to 300K, why look at properties with that asking price?
Maybe look at properties with an asking of 25% ,or more, greater than that. Is not the whole thrust of The Pin that most properties are overvalued still and, even reduced, current asking prices are still unrealistic?
Best of luck in your search!


#4

The arse end of Rathfarnham(Whitecliff, Moyville, Whitechurch) is a long auld trek to Clonskeagh. Look in Churchtown around the Lanscape roads.


#5

I agree with this - offer 300k on anything asking 400 in Dundrum/Churchtown as imo they are nicer areas, closer to clonskeagh and nearer the Luas if you change jobs into town some day.

you’d certainly get this for 300k ( if you’d want it admittedly ), there are at least 3 in meadow park for sale ( if not on myhome ) one in Weston I can think of that would sell for 250 and is a nice home and another in Meadow grove, all in around the 300k mark and much handier than where you are looking at for transport links

myhome.ie/residential/brochu … oad/346121


#6

there seems to be a a lot of impatient people in Ireland chhomping at the bit to buy a house


#7

+1 also worth having a look around Ballinteer, although D16 its closer to Clonskeagh than whitechurch in Rathfarnham. Here’s one:

myhome.ie/residential/brochu … 16/1475753


#8

How long can your patience last? i’ll be well into middle age by the time this slide is all done, worrying about savings all the while. I’ve cracked, would prefer to own the roof over my head, well most of it anyway.


#9

I’ve cracked too. :laughing: The rental places I’ve seen are either nasty or ridiculously priced.


#10

There does come a tipping point where it does not, from a sanity perspective, to wait for the bottom. That tipping point may acutally be the bottom in the relevant market if there is enough pent up demand.

Prices were crazy. Now they are manageable, if frothy. I bought in in the mid naugthies and between repayments and deposit have it half paid off and expect to be done in 5 years. Having a mortgage does focus the mind (even if my car is over 10 years old!). Thankfully I bought a house I could afford - the houses I now want to trade up to have reduced in price by at least twice what I paid for my starter. Although I may lose it it the gap to the next level has narrowed considerably. My tuppence.


#11

And the for sales aren’t? I think I’ve seen at least 20 if not more houses. The only one I didn’t think was massively overpriced needed a quite a bit of work (so, nasty superficially, and electrically) and that went sale agreed at 15ish percent over asking (apparently). I cracked, but I’m starting to heal…


#12

Manageable?

Not too sure.

Take this 300K budget for a bog standard 3 bed semi in bog standard D14/D16.

Say a 270K mortgage over 25 years at 7%. You’re talking €1900 a month in repayments.

If you’re being prudent, this would be no more than 35% of your take home. So you need to be pulling in a take home of €5,400 a month or so. If we assume a rough tax/prsi take of roughly 40% all in all, then you’re talking about €160K gross per year.

As I say, if you’re being prudent. If you’re not, and you don’t mind a 35 year mortgage and going in assuming nice low interest rates of 5% and double incoming it and never having kids etc., then hey it’s probably manageable. 8DD 8DD XX


#13

I lived in the area (Clonskeagh) for a decade and reckon it is miles better than any of the other areas mentioned (but I may be biased). Prices have fallen dramatically recently so yo may be surprised at what you can get.
Why don’t you talk to some of the agents who are active in the area such as O’Mahoney, Lynam, Sherry Fitzgerald, Morrison Estates. All seem to have sale agreeds or for sale in the area recently at the lower price end. (In Gledswood and Roebuck Castle).
While you may not get Whitethorn Rd or Whitebeam in your price range (yet!) have you considered Roebuck Castle (I know the build quality isn’t great but the area is great and access to amenities is excellent with UCD on your doorstep), Roebuck Downs (built in the 70’s, may need some work but a really nice area and good central green) or the Taney Crescent / Avenue places in Goatstown? These are all approaching 300 for a 3 bed in asking prices – so you could haggle.
I think you need to start viewing places – you can never determine a market from the internet. I wish you luck – and remember in a falling market, the most important thing to remember is to buy in a location you are happy to spend the next decade living in. So think long term – what will be important to you both in 5 or 10 years time.


#14

quote]I’ve cracked too. :laughing: The rental places I’ve seen are either nasty or ridiculously priced.

There does come a tipping point where it does not, from a sanity perspective, to wait for the bottom. That tipping point may acutally be the bottom in the relevant market if there is enough pent up demand.

Prices were crazy. Now they are manageable, if frothy. I bought in in the mid naugthies and between repayments and deposit have it half paid off and expect to be done in 5 years. Having a mortgage does focus the mind (even if my car is over 10 years old!). Thankfully I bought a house I could afford - the houses I now want to trade up to have reduced in price by at least twice what I paid for my starter. Although I may lose it it the gap to the next level has narrowed considerably. My tuppence.

Manageable?

Not too sure.

Take this 300K budget for a bog standard 3 bed semi in bog standard D14/D16.

Say a 270K mortgage over 25 years at 7%. You’re talking €1900 a month in repayments.

If you’re being prudent, this would be no more than 35% of your take home. So you need to be pulling in a take home of €5,400 a month or so. If we assume a rough tax/prsi take of roughly 40% all in all, then you’re talking about €160K gross per year.

As I say, if you’re being prudent. If you’re not, and you don’t mind a 35 year mortgage and going in assuming nice low interest rates of 5% and double incoming it and never having kids etc., then hey it’s probably manageable. 8DD 8DD XX
25 year mortgages should be the norm. 30 years or 35 should be banned


#15

Obviously most places are still overpriced - but if you happen to find something reasonable (or can take advantage of a distressed seller - whatever it takes) then maybe just go for it. Assuming this would be a long-term purchase.

But yeah, most prices are a nonsense at the moment. For example my missis just sent me this bargain: myhome.ie/1490371


#16

Yep, I’m always hoping such an event will occur. But I’m worn out from it now. I need to take a 3 month break (after tomorrow’s viewing… last one I swear. God, I feel like a gambling addict - next one will be a winner… ) at least.

585k for identikit semi, with midrange at best fittings? le sigh. It’s draining.


#17

You really think the 75% offers could work there??? Hard to know… maybe. Biggest help at the moment is the banks not loaning ludicrous sums. :stuck_out_tongue: But at some point we want to buy, and there may be an element of catching a falling knife about it, but have to factor in ongoing costs of renting, which although lower are still a fair whack of a mortgage.

Roger that!

What will Noonan bring in the budget?


#18

Agreed - my new hobby will be viewings and observing houses at odd hours of the night :slight_smile:
Clonskeagh is nice, if overpriced. Problem is it is so easy for a bunch of partying students from UCD to move next door… ask me how I know.


#19

hi all im new to this …board , im looking at a property , port mahon house 13 new ireland road rialto … it wil cost best part of 295.000 plus 365.000 to bring it back to its real state … is it wort it ? plus the place honted … am i walking in to it hear ? im not sure what to do … i need some advice


#20

It is very easy to lie with figures.

In our parents generation 2.5 x salary was the norm for a mortgage and this was when interest rates were 15-18%.

Applying this metric suggests an income of €108k

Why is your figure so much higher?