What do you think this house is worth? It’s renovation 3bed semi on Philipsburgh Avenue asking €450. daft.ie/1410655
In case the link doesn’t work, it’s 187 Philipsburgh Avenue.
Needs everything done to it. Central heating. Wiring. Bathroom. Kitchen. Insulating. etc. On the plus side it’s a great location (apart from busy road), has a nice sized west facing back garden and is a good sized house with garage and some nice period features. Looks like it was built in the 40’s? An attractive shell basically.
€80k. Allow €50k for doing it up, legal fees and stamp.
Then you might get a buyer at €200k. If you’re very quick.
Otherwise wait.
Don’t pay €450,000 for anything unless you are very very very well off.
In which case you can get somewhere nicer.
I had no intention of paying €450. If I had it in my back pocket I wouldn’t. I’m wondering where under €400 it belongs. My husband thinks €300.
I think it’d take more than €50k to do it up unfortunately, even with cheaper builders.
How did you come up with €80k?
Average Industrial Income €32.5k ish. x 4 = €130k
I guessed €50k for all expenses which leaves €80k.
Selling at €200k was simply cutting ahead of the curve.
Give it time.
Check some of the price drops on this site.
50% won’t be unusual in another year.
I’d love if you were right but why would a decent house in a decent location in Dublin city centre be four times the average industrial wage? Surely it would be a bit more? Like four times a professional’s salary?
It’s reasonably close to the city centre, with good schools, decent area, not top of the range, but not bad either. Typical residential profile would be nurses, garda, middle managers that sort of thing. Typically young married couples, with one maybe two kids.
I’d go for six times average professional salary. One adult working full time, one adult working part time/flexi time etc. E250K to E350K.
(It’s also worth noting that two adults together earning E70K or so a year between them, will be considerably better off than one adult alone earning E70K by themself)
Well I want a house and I want to own it. I’m not asking if I should buy or rent. I’m asking if you were to buy what you think this house is worth. So far it seems the higest valuation is €80k the lowest, below €450 quid. So hopefully I’ll get it for somewhere between those two extremes.
How about I throw 150k into the mix?
**VERY **rough estimate but I reckon that house would have been about 80k IRL in 1997 (pre-boom)so 101euro indexed for inflation, about 150k.
Also think it would be a lot more than 50k to do up
Obvious question is though, why would you buy now?
And to quote a cliche, it’s worth what someone will pay for it and I’d say at the moment, OK houses in OK locations in need of modernisation are impossible to sell
