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buying a city centre apartment

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    #32
    chump
    Closed Accounts Posts: 3,807 ✭✭✭chump


    smccarrick wrote: »
    In most cases the car spaces are sold seperately- or in some cases reside with the Management Company who may rent them out or allow residents to use them on a non-allocated basis (first-come-first-served). Allocation of spaces infers a legal right, unless they are actually being sold this is not done.

    it's good to be back on these threads :pac:
    I've been too busy/lazy to look at them for a while.

    It's amazing the turn around in general consensus in the last 12 months.

    I feel really bad for all the people in their mid to late twenties who have bought in the last few years. Actually it doesn't matter what age they are. It's gotta be a kick in the nads. Thank feck I'm a pessimist.


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    #33
    bean
    Registered Users Posts: 231 ✭✭bean


    chump wrote: »
    €325k
    Over 30 years
    At 5%

    Monthly payment €1,744 and then you will have TRS relief for 7 years? (unsure)
    (roughly €16k interest year one, so relief is up to €266 a month if both qualify)

    so you'll be paying €1500 odd a month, and then whatever the management fee is.

    To me the price does not sound outrageous.

    I would insist on a car parking space, ideally 2. (whether you drive or not).

    Good luck with it

    As part of the purchase there is a parking space included inside the complex (gates with code entry)
    We are married and first time buyers


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    #34
    bean
    Registered Users Posts: 231 ✭✭bean


    iguana wrote: »
    OP, apartment prices will have the furthest to fall, so there is no guarantee that in 7 years time the apartment won't be worth a lot less than you are paying for it. I would suggest renting in a similar area for 6 months and seeing how it really is in practice. That way if you hate it you will be able to move easily and if you like it you will feel more secure about that aspect of buying.

    Also, you said you were bidding against another party on this sale. How do you know that? It is common practice for estate agents in Ireland to pretend there is another party bidding to make you increase your offer. So while there may really have been another bidder there very likely wasn't.

    Yep, im aware of the predictions of a fall, this place really suits us though and we want our own place. We have a lot to think about. We met the other girl who was bidding too during a viewing..


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    #35
    chump
    Closed Accounts Posts: 3,807 ✭✭✭chump


    bean wrote: »
    As part of the purchase there is a parking space included inside the complex (gates with code entry)
    We are married and first time buyers


    does not sound bad at all (but that's not to say prices won't fall another 50-100k :) )
    I know people who spent close to 500k buying 2 bed aparts around the north quays with a parking space 1-2 years ago


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    #36
    bean
    Registered Users Posts: 231 ✭✭bean


    chump wrote: »
    does not sound bad at all (but that's not to say prices won't fall another 50-100k :) )
    I know people who spent close to 500k buying 2 bed aparts around the north quays with a parking space 1-2 years ago

    :eek:


    Damn...


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    #37
    AARRRGH
    Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    bean wrote: »
    We did also outbid another person to get the place so we doubt we can offer any less for the place.

    Ah the ol' phantom bidder trick. Hard luck for playing along.
    bean wrote: »
    We met the other girl who was bidding too during a viewing..

    Hmmm. Maybe it wasn't a phantom bidder, but at the moment I wouldn't be surprised by any sleazy EA trick.


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