Belfry Hall - A Smart Investment??

D

DavidR

Guest
Hello everybody, Im a newbie but can se myself using this site a lot!
Anyway I want to get on the property ladder and have been offered a 2-bed apartment in Belfry Hall for under €250,000.
My max budget is €250,000, do you think this is a good investment?
I will be looking to rent it out from the start and have heard that I should easily get €1100.

Can anyone advise??

Or maybe you could recommend better investments for €250,000
 
Are you planning on taking out a mortgage for the property?

IMHO, apartments are not a good long-term investment, so you should take a look at the savings & investments sections of the website for ideas on alternatives.
 
yeah the mortgage repayments would be €1150
I was thinking that this is a good starter as it is cheap, 2-beds, decent size apartment and right next to citywest shopping centre and industrial estate which currently has about 15,000 employees which they are trying to increase to 30,000 over the next few years. Also the LUAS will be near by in the not too distant future.
What do you think?

Also i will be able to re-mortgage the property in the future.

Will check out the FAQ section.

Thanks for the response!!!
 
After mortgage repayments and other expenses you will be making a loss each month.
Also, apartments in area are falling in value and in my opinion, will continue to do so for some time.
 
yes its true I will be making a loss.

But is there any property in Ireland in that price range that will be easy to rent out and make a profit on it in this current climate???

Im struggling to find anything, can you help??
 
DavidR said:
yes its true I will be making a loss.

But is there any property in Ireland in that price range that will be easy to rent out and make a profit on it in this current climate???

Im struggling to find anything, can you help??
Click to expand...


Maybe that should tell you something about property investment in Ireland at the moment.

A 5.3% gross yield, before void periods, maintenance etc.
 
Thank you both for the advice. I think your both right. Ireland really doesnt seem as attractive as it used to be....especially for the funds that I have.
 
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