Buying an apartment - where to start?

shift

Hey everyone,

I've decided it would make much more sense for me to buy an apartment in dublin instead of paying rent like I have been doing for the last 10 or so years.

The thing is I dont have a clue where to start looking. The only website I know is daft.ie which is great but there isn't alot of choices for what I want (2 bed, city center, 300k budget).

Just wondering if anyone could give me a point in the right direction. I'm working abroad for the summer but hoping to get something in the coming months. Thanks very much

ntlbell

you could try myhome.ie daft and there's a few others i'm sure google knows the rest of them.

just out of interest in a falling market where in dublin city house prices dropped 10% in the last 3 months what makes you think it makes more sense to buy now than rent?

gurramok

And install the property bee toolbar which can track price drops!(It's in my sig!)

Beware, apts are not exactly most preferred amongst Irish buyers so expect that price to drop further than on an equivalent house.

BC

If you're buying an apartment make sure you get yourself up to speed in relation to management companies/agents and your rights/responsibilities.

AARRRGH

Renting is so cheap now, and apartment prices are dropping (and have a long way to fall) so in reality it makes more sense to continue renting.

seamus

City Centre apartments are suffering very badly in terms of price drops at the moment, because they're not exactly the most desirable properties in the world, for a number of reasons:

1. You rarely have any outside amenities (gardens, balconies, etc)
2. You have very limited storage space
3. The streets are noisy
4. Your neighbours are transient - few people stay put for more than a year or two
5. Crime

This why city centre apartments are by-and-large rented out. People rarely remain long in these places, because most people end up settling down and getting married at which point they leave the city to raise kids. Other people just prefer to leave city centre living to the young and get somewhere bigger and quieter.

If you're only planning a short time living in the city centre (< 10 years), then you'll literally be flushing cash down the toilet by buying now.

On the other hand, if you're planning to buy for the long term (i.e. until you die), you will get a very generously proportioned apartment in a good area for well less than €300k that someone is itching to get off their hands.

shift

seamus wrote: »

City Centre apartments are suffering very badly in terms of price drops at the moment, because they're not exactly the most desirable properties in the world, for a number of reasons:

1. You rarely have any outside amenities (gardens, balconies, etc)
2. You have very limited storage space
3. The streets are noisy
4. Your neighbours are transient - few people stay put for more than a year or two
5. Crime

This why city centre apartments are by-and-large rented out. People rarely remain long in these places, because most people end up settling down and getting married at which point they leave the city to raise kids. Other people just prefer to leave city centre living to the young and get somewhere bigger and quieter.

If you're only planning a short time living in the city centre (< 10 years), then you'll literally be flushing cash down the toilet by buying now.

On the other hand, if you're planning to buy for the long term (i.e. until you die), you will get a very generously proportioned apartment in a good area for well less than €300k that someone is itching to get off their hands.

wow, so glad I posted here now. Thanks a million seamus and all for the great advice. I will be in dublin for the long term most likely but I never actually thought about getting sick of the city center (which I'm sure I will).
The main reason ntlbell I wanted to buy a place is to put my money to use instead of renting someplace for another 10 years and having no to show for it - if that makes sense.
anyhow definitely ruled out a city center place, might try the suburbs now

much appreciated

EORaghallaigh

definitely try and hold out before buying...

the rental market is very biased to the tenant, so there are great deals to be had if you negotiate

I'm in the city centre and have got 400 off my rent in the last 12 months...

the_syco

shift wrote: »

anyhow definitely ruled out a city center place, might try the suburbs now

Try directly north, south, or west suburbs, that have good transport (many buses, or bus & train) into the city centre, and which have nightlinks. Also, some decent local pubs, and stuff to do. If you're going to live there, 1st look at a rough location you wish to live in, and then ask about it here or here, and go from there. Best of luck.