Apartment or House

[tlohan]

Hi,

I'm based in Galway and wish to buy a second property, also in Galway, as an investment.

I was just wondering if it is better to buy an apartment or a house if you are investing? Does it matter which?

Does anyone have any other advice on property investing as this is my first time.

Thanks,

Tom

 

[ARCH]

The most important factor is Location.

 

[tlohan]

I dont want to sound rude but I know location is the most important item but I am curious if there is any advice on whether its best to buy an apartment or a house.

Does anyone have any recommendations?

Is the value of an apartment less likely to go up over time?
Will the rental income be greater?
Which is easier to sell in the future?

 

[stobear]

Tom
Have you read through this sticky?

 

[tlohan]

Yep, read most of it, very good.

Thanks

 

[Dunners]

It depends on what kind of rental market you're looking at. In Galway, if you plan on renting to students, houses in the newcastle / renmore /ballybane area are probably your best bets, or purpose-built student apartments with tax relief.

Otherwise, houses in more mature areas like Renmore & Salthill are good if you plan on renting to families.
You can reap a relatively high yield from renting modern vity-centre apartments to young professionals, but in my experience, turnover (and therefore hassle) tends to be relatively high....