I agree, case in point would be College Square in Terenure 2 years ago.
€650k in a settled area for well built 4 bed 1,700sq ft semi D. Same money would buy a similar sized house in Wainsfort Manor but with €100k+ required to put in.
They are building some exceptional houses in settled areas in Dublin. Often at same price as older houses in same area so in reality they are €100-150k cheaper if you compare like for like. Compromise is smaller garden and over 3 storeys typically in Dublin.
The vast majority of second-hand homes for sale do not require €150k of work though. Saying 'which is better - old vs new house" is too simplistic a question to describe the range of age and condition of properties for sale.
Location is a huge part of it. I had reason to be in Ongar, D15 over the weekend and there is a lot of new builds out there (thousands in fact). It was such a souless place and the hosts of the BBQ were telling me a lot of neighbours are at each others throats and the bus service is woeful. The village itself is run down (even though not that old) and there is lots of new building going on meaning there is dust absolutely everywhere. This will continue on for the foreseeable. I wouldnt like to live in that kind of environment and would go with a settled area and 2nd hand house over it. Settled area doesnt even have to be that old, perhaps 20-30 years or so. Plus lots of houses built in the 80s and 90s are bigger and have bigger gardens than new builds and they dont have the extra taxation of management fees or parking problems.
I'm using that figure to compare 2 sets of houses - €100k+ is required to bring older house up to close to A rating and modernise.
So after spending the €100k+ the new and old houses are more comparable, in the area I'm referring to (Terenure).
Our decision to buy an early 1970s house that needed 180k work to it in Cork was purely down to location. We couldn't get a new house in the location we wanted.
We did look at some new houses around the area, but we found these houses were crammed into much smaller sites and they were typically over three storeys. I am sure that is not the case in some other areas, but in a city especially it makes sense that most of the best locations are already taken unless large areas of land free up.
We are also paying rent for a year while the planning and building phase is going on. Unless you have another place to live, this is another expense that means these houses are not an option for lots of people. That and the fact that it is hard to get finance for the renovation costs.
I would guess it will cost us approximately 75k more than the cost of buying a house in turnkey condition. However, we felt it was well worth it for a better location, with a bigger site and gardens and with neighbours we were able to suss out in advance while also being safe in the knowledge that there won't be any other developments in the area any time soon.
Renovating an older house is not for everyone but it has its rewards.
I'm with your parents on this. In the end they're your neighbours not your best friends. Having a Watsapp group with the neighbourhood? That would be my worst nightmare. But I think it's nice to know either side next door to keep an eye on things when you're away.
On the debate over new versus old. I bought new and while I'm extremely happy where i am, the build quality is definetly cheap in places and its smaller than houses of the same price 2nd hand. Location it's an edge of city estate but in a nice suburb although not many amenities nearby.
If your looking for good location and good sized house/garden buy older house. If you like no diy, super warm small home with probably a bit smaller space buy new.
Maybe it's where I'm living but all the new houses are 10-20% bigger than the older estates.
Where are you living?