Do people think this
myhome.ie/residential/brochu … -18/204994
is a good buy at around 700? We, like Calina, are getting itchy feet… Not saying the vendors will accept 700 but I don’t know whether to even try… Or maybe we should hold tight for another 3 or 4 years? Decisions, decisions…
Still needs a bit of work. 500-550k would be fairer.
Foxrock spreads out from the village, a succession of individual playboy mansion style houses on generous plots from recently built to 100yrs old plus. Then the roads start to peter out into tract housing and bungalow ribbon development as seen outside any town in Ireland.
This house is firmly outside of the sweet spot where a higher than normal price is justified. It’s 1km walk to the village and 1km to the Luas. There is nothing much nearby. This is a tired old bungalow needing a lot of work. It’s a good size quarter acre garden but the location is not premium.
So I don’t think this house is worth more than any other rather worn 4 bed bungalow in South Dublin. A lot of the floorspace seems to come from the loft which is a barn style space without dormers, bathroom, or much else to make it useful.
I can’t see how it is worth more than 4 something and I would imagine it will bottom out 3 something if the vendor is intransigent.
Beware the ‘‘tired old house’’ generally!
I know people who bought a place close to the property in question - quite a while ago now so prices were not that mad - as a ‘fixer-upper’ gig.
It became an absolute money-pit as fixing up one thing led to another problem being uncovered which led to anothert etc - from viewing at the time and passing through nowadays a lot of the housing stock around that locale seemed jaded.
Old Time is right in there being nothing much in the way of convenient facilities nearby either.
My fear in purchasing this at €700k is the potential 3 months to complete the sale followed by 6 months of building work and a further €100k spend (as well as the cost of continuing to rent for the 9 months) only to find the place is still worth €700k at that time after all the work is done.
Condensed that for you.
Eh, thanks, might be worth adding “when finished” at the end of that
WIW?
About 300K
In present condition, you would have to say a house like this would rent for about €1,600 a month. That gives a gross rental yield of 2.3% by my calculations.
€825,000 is a silly price it has to be said. €700,000 wouldn’t be much better either, and I doubt the seller will sell for “less than it’s worth” after that.
Don’t understand why anyone would spent close to 1 million on an ordinary family house.
Because itchy feet is a really painful afflication. A sufferer would gladly hand over the guts of a lottery win to get a scratch on that sucker.
I believe the whole property mkt has come to a complete standstill in areas like for many reasons, eg a lot of neg equity in these areas driving prices up for some - the ‘I just won’t sell unless I get above X’ thing. Purchasers see the hse as being worth less and less as time goes on. So hard to find a price acceptable to both parties - the vendor thinks Location, Location, Location. The purchaser just sees all the work that needs to be done on such an old and cold house. I personally don’t see a price acceptable to both parties - something has to give if its to sell, so it either goes for a steal from vendor’s end or you pay thru the nose from the purchaser’s. Gridlock
Yes itchy feet is hard sometimes. I find myself in a situ where we’re going to be “kicked out” of our current rental in 4 months time so since I have to look anyway I am looking for both buying and renting. Aldo the advantage of buying is I would not have to move again. Plus occasionally it occurs to me that I might be passing up some bargain like that place that went in Killiney for 745 or so (13 coundon court). But when I find a nice rental house and I am settled again most of the itchy feet will go away I hope.
That about somes it up, thanks
I know this area well and I don’t think this is ‘rentable’ at all! Freezing house, terrible BER, no public transport unless you will walk a mile to the N11 or a mile the other way to the Luas… Tired is our word for the decor, old and mingin’ spring to mind… Who on earth is going to rent that?! You can rent in Brighton Square off Brighton Rd, pretty high spec, or I think in Claremount opposite the other end of Hainault Road off Cornelscourt Hill, stunning new houses IMO. Still in the middle of nowhere as regards public transport but how ‘n’ ever, we can’t have it all. I digress - who would rent this? It needs a complete metamorphosis rather than a lick of paint. But if you want it go for it, this is only my opinion and if you love it enough bite the bullet
It’s a 5 mins walk to the Luas. You can get a lot more than this for €700k in the area, tonnes of new homes unsold ready to be sold by receivers.
I was paying €1,200 for a fairly crummy 3 bed terrace in a fairly shite area.
You would easily get someone to rent that house at €1,600.
Anyone who has lived in a bungalow of that era know how had the build quality is.
That plot as site value. You would be much better off starting from scratch.
€400k - and that is being generous.
I have lost all perspective as speaking with agents recently…they still think sites can command €800k.
We are, however, seeing a bounce as the terminally bored of waiting a drifting back in. You have to get off the fence at some point - raising children for 15 years in rented accomodation is not practicable - some would just prefer to amortise the loss of the life of the mortgage - I can’t say I blame them.
I can relate to the itchy feet - thankfully no sign as yet of getting kicked out of my rental property, but it is starting to fall apart at the seams, so I do get tired of it… and then the landord does another sticky-plaster half-assed repair job and on we go… But no I don’t think that’s a steal at 700 - as other posters have said that era of home has major drawbacks in terms of build quality, asethetics and layout (not a fan of bungalows myself). If you like Coundon Court there is another one asking 850 - without a hope of getting it IMO - myhome.ie/residential/brochu … lin/112031, but it suffers from the same issues as that one in Foxrock - a bit ugly, just the wrong side of the tracks (nearer Ballybrack than Killiney) and without any decent public transport. My kids are young now, but I would like to have them independent in future, e.g. able to get to secondary school and back without needing parental taxi services. So access to DART or Luas or at least a decent bus is an important factor for me (but maybe not for everyone).