Thinking of investing

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coldwater

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I have decided to enter the property market and have put an offer on a one bed apartment near the blanchardstown shopping ctre.

This is to be a long term investment with the rental covering the mortgage repayments for the first year anyway.(1 yr fixed)
190k over 25yrs.

I know I will have to pay maintenance fees / upkeep of the property /advertisements for tennants and so on.

We both have SSIA maturing in the next 2 years and I hope to use this money to pay of our home loan in total which is a separate mortgage.

We will still both have savings built up and shares valued around 30k .
My main reason is to diversify .I have selected a one bed to reduce the risk
if property does go the wrong way.

What do people think of one bed versus 2 & 3 beds to rent and for capital growth?
Is property beside a major shopping ctre / motorway at any advantage that another further a field with no / little amenities ?
 
Coldwater - before I give you my reply I'm just letting you know I'm pretty negative about the Irish property market at the moment - I saved up quite a decent deposit but am staying on the fence for now (the clincher for me is the often appalling standard of construction in dublin, particularly apartments) - its just good to know where people are coming from when u read their replies, i.e. I am biased.

coldwater said:
I have selected a one bed to reduce the risk
if property does go the wrong way.
Click to expand...

This statement makes no sense.

Look at the lenders offering 100% mortgages, one of their provisions is prospective purchasers of one bedroom apartments do not qualify.

Now think about that, these institutions are majorly vested interests in the property market and yet they are actually admitting in public that they believe one bedroom apartments/studios will bear the brunt of/be the first to suffer because of any property downturn.

There is a real danger of a glut of apartments emerging in dublin, I personally believe the only safe-ish bets are well constructed, spacious apartments in desirable areas. (I personally dont count Blanch as desirable).
 
in terms of rental price a two bed should bring in €100-€150+ more per month than a one bed... a two bed is also far more desirable for resale purposes (just in case your long-term plan doesnt work out)

personally i would steer clear of buying any appartment in an inconvenient location, appartments are all about convenience... there has to be an up-side to living in a little space like that

and, of course in the (un)likely event of a downturn in the property market one bedroom appartments in silly locations will be the first ones to fall

but maybe i am not the right person to offer an opinion, i dont own any property
 
UK 80's bust.

The biggest sufferers were Studio and 1 bedroom flats.

'Nough said.
 
I think 1-beds are fine but you have to bear a few things in mind. One beds are generally aimed at more mature singles or young couples who are tired of house/flat sharing and want a place of their own. As such they will generally be better tenants than a "bunch of lads" who want to cram into a 2/3 bed apartment. Naturally, they will expect a high standard of fitout and you should be prepared for this and budget accordingly. Also they will be looking for a "desirable" and convenient location and I think Blanch just doesn't cut it. Increasingly, desirable is becoming equated with close to town OR on a DART, LUAS or rail line.
 
re Sm1ler remarks on uk property bust

He is correct.

After the 80's bust, returning buyers skipped past the studios and 1 bed apartments and went for 2 bed apartments as a minimum.
So studio and 1 beds are a bit riskier.

The daft article mentioned a lack of larger houses being currently build.
As couples become families, I believe that they will seek larger dwellings with gardens in which to rear families and these will have a premium while the smaller dwellings (apts) will have the opposite.
 
there was a block of appartments near the town center that were
so badly built that they had carbon dioxide gas problems and a few
people die.

i will get you the name for the building.

a while ago in the property supplement when they do a day with an
estate agent, they did it with flynns and he said the only property
he couldn't shift for any money was the ones in this block.

also d15 has the lowest rents in dublin.
 
Appreciate all the info , I certainly get the feeling this needs more consideration.
Yes quickquestio if you could find the details , if only to let others know .
 
appartments were called verdemont

can't find anything with google about the deaths.

but a few people die from carbon dioxide gas in the appartments

heres the property article

[broken link removed]
 
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