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Buying out of Dublin?

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  • 05-06-2008 10:06am
    #1
    Irishcrx
    Registered Users Posts: 2,861 ✭✭✭


    Hi guy's,

    Basicly I'm 21 and living in Dublin at the moment (Renting) and was looking at buying a property by myself, however I still think the house prices in Dublin although down alot are not worth it for the house you get. I have 160 ,000 which I luckily inherited and was thinking rather than taking out a big mortgage maybe buying a property in the likes of Dundalk where I can get a 2 - 3 bedroom house in a nice area and nearly be able to buy it outright, My job is right on the end of the M1 so the commute wouldn't be massive for me and the houses all seem around the 170 - 200 k mark so little to no mortgage,

    What I want to know is this a good investment for me? I plan on living there maybe renting in 2 years for a bit and travelling myself with the money i'll be able to save, will these houses hold there value and is it a good or terrible idea.


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    #2
    punchestown
    Registered Users Posts: 660 ✭✭✭punchestown


    I would put about 90% of money in a high interest savings account. Spend the 10% on enjoying your youth, get out there, see the world, have fun, make the most of now. Prices are not going anywhere fast for the next few years. By the time you come back, you will have saved 30,000 on the price of a new home and the added bonus of the interest in the savings account.


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    #3
    gurramok
    Closed Accounts Posts: 13,992 ✭✭✭✭gurramok


    Plus if you did buy, can you see your job been stable for a good few years yet within spitting distance of Dundalk?

    Dundalk is a small town and you have to ask yourself, will there be a good supply of jobs within a commuting handy distance as you don't want to be stuck there.


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    #4
    Irishcrx
    Registered Users Posts: 2,861 ✭✭✭Irishcrx


    True point, I like the rural feel to things though but in terms of jobs I don't know , I could go travel straight away just haven't come around to getting up and leaving everything behind , friends, family, job etc and i'd be afraid i'd spend to much of the money..


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    #5
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,479 Mod ✭✭✭✭johnnyskeleton


    punchestown wrote: »
    I would put about 90% of money in a high interest savings account. Spend the 10% on enjoying your youth, get out there, see the world, have fun, make the most of now. Prices are not going anywhere fast for the next few years. By the time you come back, you will have saved 30,000 on the price of a new home and the added bonus of the interest in the savings account.

    +1, but as an alternative, in a few years time you might be able to afford a house in Dublin (or where-ever you actually want to live).


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