Which of two properties to buy in Slane

L

lovejoy

Guest
Both properties in Slane, have deposit on new end of terrace 3 bed with large back garden for 360,000 should be due to close in 3/4 weeks. On same road 3 bed terrace has come on market second hand, bought for 335,000 2 months ago now selling for 317,500. (both 1100 sq ft) but second hand house has floors,carpets, blinds etc but end of terrace has more land. Difference of 200 a month in repayments, any advice for first time buyer looking for property to value asap to move to closer to Dublin.
 
Re: Need urgent advice on which of two properties to buy

Presumably something went wrong with the sale of the mid terrace, hence the reduction?? An end of terrace is a better buy IMO. Carpets etc. come over time so I wouldn't let the fact that it's furnished influence me. Can you afford the 200 a month extra? Remember interest rates are going up.

The only other thing I can think of is that the end terrace is, in effect, semi detached and so you have neighbours on one side only. Oh just thought, you're a FTB so the mid terrace is at the stamp duty threshold whereas the end terrace is not, unless it's a new build.

No one can make up your mind for you, unfortunately.
 
Re: Need urgent advice on which of two properties to buy

Up to yourself... things you need to ask yourself...

- whats the parking situation like for both
- what are they overlooking (or are they being overlooked)
- house direction (would you prefer a south facing back garden)
- how much extra do you need to spend on kitting out?
- is there more road traffic passing one of them
- It your house the turn-around point for all traffic on the road
- does an existing neighnour have a 10 footer parked outside there each night

...which one really really does it for you??.... only you can answer!

ninsaga
 
Re: Need urgent advice on which of two properties to buy

thanks for replies. End of terrace is new build so no stamp duty but worried that if i stretch the market may crash and i may not end up in the position i want to be!!
 
Re: Need urgent advice on which of two properties to buy

Definitly the end of terrace- no question for me. End of terrace pros:- only one set of neighbours, a side entrace (helpful for the bins and gardening-lawn cutting etc) and bigger backgarden which will all help it appreciate quicker. Ninsaga's points are very useful as a reference point in helping you make up your mind.
 
Re: Need urgent advice on which of two properties to buy

think you all may be confirming what i'm thinking! Main worry was that i pull out of end of terrace and the mid terrace vendor pulls out of sale and i'm left with nothing!
 
Re: Need urgent advice on which of two properties to buy

I'd investigate why the mid-terrace fell in price.
 
Re: Need urgent advice on which of two properties to buy

it seems now the off plan price would have been around 280,000 whenever they launched off the plans and are now valued at 335,000
 
Re: Need urgent advice on which of two properties to buy

Ah, it's more than likely a 'flipper' willing to sell at SD threshold to encourage FTBs and undercut the builder.
 
Re: Need urgent advice on which of two properties to buy

but surely he would want to wait until the whole estate is sold so he can make more?
 
Re: Need urgent advice on which of two properties to buy

lovejoy said:
but surely he would want to wait until the whole estate is sold so he can make more?
Click to expand...

Or he could wait and make less.

(If he is a 'stressed vendor' you may get the property for much lower than you expect. )
 
Re: Need urgent advice on which of two properties to buy

right so does that change your opinion? or is it adviseable to stick wth the end of terrace?
 
Re: Need urgent advice on which of two properties to buy

lovejoy said:
right so does that change your opinion? or is it adviseable to stick wth the end of terrace?
Click to expand...

What i will say is that whilst you will not get a deal on the new build you may get a good deal on the mid-terrace. The builder will not (probably) undercut but a stressed vendor will.
 
Re: Need urgent advice on which of two properties to buy

The above posts still hold true with regard to the pros and cons of mid terrace versus end terrace. An end of terrace property will always be worth more, for a start you may have the opportunity to extend sideways (depending on the site.

I wouldn't confuse myself too much by dwelling on flippers and such like. The real issue is which property to choose.
 
Re: Need urgent advice on which of two properties to buy

lovejoy said:
thanks for replies. End of terrace is new build so no stamp duty but worried that if i stretch the market may crash and i may not end up in the position i want to be!!
Click to expand...

If you feel the market may crash, why do you want to buy now??
 
Re: Need urgent advice on which of two properties to buy

You should do whatever your boyfriend tells you ... he is wise and handsome
 
Re: Need urgent advice on which of two properties to buy

i think you also need to consider is an end terrace worth €43,000 more than a mid terrace. What's a new mid terrace selling for?? I'd use this as a guide to see how much extra value a developer puts on an end terrace. The advantages listed above are sound - i would go through them particularly in relation to room to extend in the future etc and see whether they actually apply to the house you are looking at.
 
Re: Need urgent advice on which of two properties to buy

not that much room for building on but the end of terrace is selling for 30k more than the mid-terrace
 
Re: Need urgent advice on which of two properties to buy

lovejoy said:
not that much room for building on but the end of terrace is selling for 30k more than the mid-terrace
Click to expand...
Ok here is my advice. Think of a figure that you would buy the second-hand mid-terrace for. (280K + stamp for example). Make that offer. You might be surprised.
 
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