Its a nice house in need of some modernisation / renovation particularly to the kitchen, bathrooms and garden. I assume it is owned by a couple with grown up kids. It is very close to Mortons supermarket and there were some delivery vans arriving even during the viewing, and parking was difficult. You can also hear the refrigeration units at the rear of the supermarket form the garden.
It is interesting because I think it is very aspirationally priced and I think it will be interesting to see what it actually goes for, as this will be a very good test of the Power or lack there of of the Property Price Register.
Below is a list of all Moyne Road sales from the PPR:
All of the above houses you can check then out on google maps are at the quieter end of the street, they are bigger houses and in some cases substantially bigger with at least as big gardens.
To me while it is a nice house that a couple of hundred €K of renovation would make a fine home all be it with a small garden and on street parking, its not worth anywhere near €795K
Of note the average asking price for D6 is €373 / sqft and sold prices are about 10% down from the askings as per PPR viewtopic.php?f=10&t=35102&start=105
Given the previous sales on the road ie the “market value” and that it is at the noisier end of the street and requires some renovation and PS200306’s excellent data, I’d say a fairer price is around the €550-600K mark.
The windows are old single pane sash, by the time you have replaced all of those, extended the kitchen like in No 4 Moyne Rd, 2 new bathrooms, toilet downstairs, added storage (something this house is severly lacking) and redone the garden you won’t have much change out of €200k.
I agree that you wouldn’t increase the market value of the house by doing that type of renovation and it is possible to live in as it is but this type of house will appeal to families. It needs a bit of work to bring it up to what many regard as a minimum standard.
As for windows I’ve lived with single pane sashes. While pretty they suck a lot of heat out, they have no sound insulation and attract a lot of condensation. There are much better functional aesthetic options such as double glazed sash windows with the Ventrola system for draughts. Any one paying €600K will not be expecting to live in a house with draughty rattley windows blighted with condensation for half the year.
Aside from this what does anyone else think its worth?
I agree, think with work needed and considering the property tax coming this year this is worth about 500,00. The EAs are talking up the market at the moment so would be surprised if it will actually go for anymore
Have also lived in multiple houses with single pane sash windows. Never seen any problems with condensation apart from in kitchen when cooking/boiling. However, I also didn’t use humidifiers, block chimneys, install hydroponics, etc.,. Might be a lifestyle issue.
Sash windows can be draughty, but don’t need to be. A more minor change is to put brushes on the window frames to reduce air-flow. With that you can remove most draft/rattle, but keep original timber frames. Of course you’re left with the poor insulation of the glass. That can be mitigated by using heavier curtains and paying attention to curtains as a thermal system not just as a light/aesthetic system.
Moving into a period home, I would also have a lifestyle in mind that means I would not be expecting to live in a house with retro-fitted double glazing that didn’t fit with the original design. Part of the pleasure is living with period features
Anyway, I would consider it expensive but in nice condition and area. The condition will mean many price it as if no major works are required. If you see yourself needing to do lots of additional work, up to ca €200k (maybe more the way these things go), then you’re really buying it for €1m which is rather poor value for money, and you’d be better off to find a poorer-condition house that you can buy for less and then renovate to your own preferences.
@Terra Incognita - Really great post. Thanks for putting the time in to being some really good information on the road together.
I would agree with others that many a purchaser of this house would be happy to live in it straight away and do things up bit by bit as they went along. 200k did seem a bit generous to me.
I looked at it yesterday too and I thought that it would sell quite easily - EA said he had 10 repeat viewings so far.
Problems (as I see it):
Parking seems a BIG problem;
Garden is small;
Kitchen needs work;
Terraced;
Front Garden and front of house seemed dark.
Upsides:
Close to good shops and restaurants and schools;
Close to Luas;
Easy access to town by foot and on public transport;
…because points 1-3 are so good/important, and given point-4 means you don’t have to spend any money right away, it’ll put more buyers in the equation than might otherwise be the case (people who will want to redo the kitchen, but since it’s OK as-is they’ll be able to move in without having that money available right-away to spend.
Contrast this with various executor sales where you’d really need to have some money to spend in your first year, even if roof/structure are fine.
So why has Number 4 Moyne Road with all the above boxes ticked, kitchen already modernised and 100K cheaper not sold after being on the market for a year?
It doesn’t take much to draught/rattle proof original sash windows (Ventrola,etc). After that, you’ve heat loss to contend with but with the payback of new double glaze windows running into decades (3 or 4) you’d have to wonder why folk concentrate so much on them. Leave aside the fact that new double glaze sash windows ain’t at all pretty.
We draught proofed single glazed sash windows using Ventrolla - found it pretty hopeless to be honest and it was not cheap either (15 years ago)…18 months ago we replaced 3 of them with double glazed timber sashes - complete replicas of the originals on the outside and slightly modified on the inside to accomodate the thicker glazing unit…it cost approx €1800 per window - only sorry we didn’t do it years ago.
Luas is fantastically close - but unless you are more than half way up the road you will hear the Luas ding dong in your back garden. Its only a minor issue - but it will annoy you. You will hear it inside also if a back window is open and no other noise around- - and the noise of the actual tram also.
Its a nice road for sure, but quite a few of the houses are still in bedsit units, and of the houses a good few are rented
Other neighbours apart from those quoted above include John Rocha
There are a fair few oddballs in the bedsits/flats though
As others noted, Number 4 may not really be for sale, however notwithstanding that it is also advertised as 3 bedroom versus 4 bedrooms for the other property.
In any case, my point wasn’t so much about the rightness/wrongness of the price. Just that I would expect Number 12 to do well for the area because it’s in move-in condition and no fixing-up absolutely required, which is valuable to many people. If someone wants to fix it up anyway, then they’re probably undervaluing that aspect of the property (relative to others) so they’ll end up paying the premium but not feeling a benefit.
(think of it this way: if you’re dead set on replacing the wooden single-glazed sash windows with new double glazing you wouldn’t care too much if the current frames are damaged, unpainted, bit rotten, woodwormed. If I want to buy house and move in with minimal work, then I’d look at those rotten windows (which can’t be left as-is) and factor a set of window replacements into my offer and offer less than I might otherwise do… So if someone plans to do a lot of reconfiguration, value for money means they should preferentially look for houses that haven’t been done up too recently)
