Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Adamstown: To buy or not to buy

  • 07-04-2010 3:48pm
    #1
    Registered Users, Registered Users 2 Posts: 11


    Hi everyone,

    I'm new to this site and am hoping you can help.

    I've recently been given mortgage approval and am considering buying in Adamstown. I've seen a place I really like in Stratton and I'm wondering if anyone is living there now and can tell me what the area is like.

    It seems very quiet whenever I've been down there and having seen some older posts on Adamstown here which talk about it being a ghost town and the developer not finishing it I can't help but think am I making the wrong decision to buy here.

    Also, is the rental potential good in the area? I would think so with the train station making the city centre so accessible but it is a bit far out from town.

    Any advice at all would be much appreciated!

    Thanks!


Comments

  • Registered Users, Registered Users 2 Posts: 1,269 ✭✭✭Piriz


    hi dublin24guy

    Personally id stay away from it,
    Adamstown is one of the final developments of the boom...meaning its projections were ambitious to say the least i.e. cramming as much property in to the space as perceived sell-able, the properties themselves are probably not the best interior proportion wise, if the area is unfinished this is a big warning sign! commercial units will probably lie vacant for a long time, the community element will not develop if majority of units are unsold and also if there are still loads of units unsold they will continue to drop the price in stages...market skimming effect..each time price drops some people will buy as they see it as suitable/affordable, then when sales cease another marketing plan is devised to launch whats left at a lower price...etc. etc.
    I would imagine rental yields would be terrible, Adamstown is miles away from Dublin, train or no train, nobody will rent in a ghost town when there are better areas available.
    i'd clue myself in on the property economy before i'd make any moves...
    be aware of what affect unemployment, negative equity, emigration, increase of interest rates, restricted lending criteria, reduced liquidity in the banks, property taxes, management fees, etc have on supply and demand i.e. demand is hugely restricted and supply is enormous..plenty or room to save ~20-50% over time depending on where you buy.
    Plenty of threads on this forum to clue yourself into the market...


  • Registered Users, Registered Users 2 Posts: 20,653 ✭✭✭✭amdublin


    Piriz wrote: »
    I would imagine rental yields would be terrible, Adamstown is miles away from Dublin, train or no train, nobody will rent in a ghost town when there are better areas available.

    10 miles/15-20 minutes on the train. Doesn't seem bad to me atall? :confused:

    I'm near enough to it. Doesn't seem to be a ghost town to me. I'd leave there over Lucan (with their traffic!) any day. Seems to have alot of community events going on according to this:
    http://www.adamstown.ie/index.php?option=com_content&task=view&id=379&Itemid=339

    I'd say it is worth viewing. And at the Right Price could be worth buying/living there.

    Happy house hunting dude!


  • Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭the_syco


    amdublin wrote: »
    Seems to have alot of community events going on according to this:
    http://www.adamstown.ie/index.php?option=com_content&task=view&id=379&Itemid=339
    ...with all of them happening in Lucan.

    Oh, and the train goes to Heuston, so if you work in the city centre, you'll probably have to get the Luas from there to the city centre.

    My advice: rent there for a while if you can. If you don't like it, you can move out after a year. If you buy a house there, you're there for life. Also, as the price of houses is still dropping, buying one there now isn't a good idea.


  • Closed Accounts Posts: 8 Mr Amazing 2


    One of the lads in work used to live in Adamstown and he had to move due to repeated burgularies. Definitely have a chat with the local garda's on the beat and see if they think there's a problem.

    +1 on the renting for 6 months and at the moment there's no real rush :).

    Best of luck, hope you find a home soon.


  • Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭the_syco


    One of the lads in work used to live in Adamstown and he had to move due to repeated burgularies. Definitely have a chat with the local garda's on the beat and see if they think there's a problem.
    Ever hear of neighbourhood watch? You see your neighbours house getting burgled, you ring the police. Well, in Adamstown, some of the places would have one house occupied out of maybe thirty empty houses.

    So if you want a free TV, break the door down when they're in the pub, and take whatever you want, and see how fast the Gardai get there from Lucan... if anyone even rings them.

    So yeah, I can see why there's a high rate of burglaries there... :(


  • Advertisement
  • Closed Accounts Posts: 711 ✭✭✭Dr_Phil


    I've recently been given mortgage approval and am considering buying in Adamstown.
    Lucky you, just bought a couple of months ago myself, good luck to you..

    Anyway, everything that ends with "town" (Blanch, Adam, Tyrrels, etc) is sh1te IMO. I wouldn't buy there.


  • Closed Accounts Posts: 1,697 ✭✭✭MaceFace


    Dr_Phil wrote: »
    Lucky you, just bought a couple of months ago myself, good luck to you..

    Anyway, everything that ends with "town" (Blanch, Adam, Tyrrels, etc) is sh1te IMO. I wouldn't buy there.

    Booters.....
    Leopards....

    Don't ya know we operate to different rules on the Southside ;)

    Seriously OP: Keep well away. There is only one place the prices in this ghost town are going, and considering the high level of empties, it will take a lot of discounting to fill it up.


  • Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    all things being equal pick a more mature area. The worst places to live in type of environment are areas not completed, not 100% occupied or where the owners all have negetive equity.

    forget the "getting on a ladder" nonsense. Whatever you buy assume it will drop another quarter and or that you will have to hold it for a 10 year period.

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • Closed Accounts Posts: 12,382 ✭✭✭✭AARRRGH


    I drove through Adamstown last week. It was weird. Completely deserted. Never seen anything like it before.

    I would avoid and wait for prices to drop further.


  • Registered Users, Registered Users 2 Posts: 4,306 ✭✭✭Zamboni


    Future ghetto


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 1,003 ✭✭✭Treehouse72


    I can't help but think am I making the wrong decision to buy here.

    Go with your gut. In this instance, my opinion is that your gut is correct and buying now in Adamstown would be an enormous mistake. Enormous.
    Also, is the rental potential good in the area?

    No. Too much oversupply. Adamstown will be an atrocious place to try to let out a property in years to come.


  • Registered Users, Registered Users 2 Posts: 18,263 ✭✭✭✭Idbatterim


    Op what age are you, what are the asking prices?


  • Closed Accounts Posts: 9 okeydoke1


    AARRRGH wrote: »
    I drove through Adamstown last week. It was weird. Completely deserted. Never seen anything like it before.

    I would avoid and wait for prices to drop further.

    + 1 drove through a month ago on a sunny Sunday, to have a gawk around on my way to Lucan, place was like a ghost town.
    Avoid like the plague I'd say


  • Registered Users, Registered Users 2 Posts: 1,710 ✭✭✭bogmanfan


    I would definitely stay away. If you like the general area, then buy in Lucan.


  • Closed Accounts Posts: 16,705 ✭✭✭✭Tigger


    op the best advice anyone can give youis rent an acual building that you may buy later on

    then you will know if you like it


  • Registered Users, Registered Users 2 Posts: 11 dublin24guy


    Idbatterim wrote: »
    Op what age are you, what are the asking prices?

    I'm 25 and asking price is 210.


  • Registered Users, Registered Users 2 Posts: 17 sodaev


    Rent a nice apartment in an area that suits you and your lifestyle.

    I would steer clear of any developments which have come on stream in the last few years, most of them were built of cardboard or dodgy concrete, few will be finished amenitiy wise to any degree, bar a Spar or two and a boarded up shop beside with a "reserved for" sign which means nothing and most will be half-vacant residentially which doesn't bode well for the future.

    And that's without even talking about the decreasing prices, increasing interest rates and god knows what state this country will be in a year from now.

    One year lease, relax and save yourself from a 25-30 year millstone.


  • Closed Accounts Posts: 151 ✭✭l5auim2pjnt8qx


    I have been here from the start and I can assure you Adamstown is not a Ghost town or anywhere close ,do not listen to some of these people who know little or nothing of the area.Alot of people have been putting Adamstown down before they started building and now that its doing well in the current climate the jealousy continues as Adamstown transport system is better than any in Lucan and the units rent out far more quicker (Ask any Estate Agent in the vicinity)

    Facts: 1381 units built ,1155 lived in hardly anywhere close to the 75 % empty units some people are claiming.
    3 Developments Adamstowncastle ,Adamstownsquare southern end of Adamstown and the Paddocks which is the Northern End The Paddocks which is currently independent from the other 2 developments .

    Transport and Amenties :
    Train Station to Heuston (20 mins )
    151 Bus Service (50 min to the City Centre) soon to be replaced by the new 25b service.
    1 X Secondary School
    2 X Primary Schools
    1 X Creche
    1 X Mini - Market & Off-License (Londis)
    1 X Pizzeria Restaurant & Take-Awayh

    All in operation and all doing well by all accounts!

    Prices have dropped 150,000 Euro from Peak 2006 Levels and the developers will only build more units if the supply will come (Pretty much the same situation everywhere in the country)

    Close too: Finnstown House Hotel with beautiful grounds to walk around.

    From the Adamstown developments Finnstown Shopping Centre is a 5 -15 walk depending on which end you live in.

    Shops : Pharmacy,Newsagent ,Hairdressers,Building Sociey , Medical Centre,Chinese Restaurant & Takeaway, Lord Lucan Pub & Restaurant.

    Superquinn Shopping Centre 15 min walk from The Paddocks Developement and a 20-30 min walk from the Adamstown development or a 5min drive.


    Building work is off a high quality and all developments are well landscaped all units are a good size and bigger than the average which most 3 bed units averaging 1300 sq feet


    Hope this helps people looking for a more honest and knowledgeable information on Adamstown and for more information
    Log onto www.adamstown.ie


  • Registered Users, Registered Users 2 Posts: 2,458 ✭✭✭OMD


    I have been here from the start and I can assure you Adamstown is not a Ghost town or anywhere close ,do not listen to some of these people who know little or nothing of the area.Alot of people have been putting Adamstown down before they started building and now that its doing well in the current climate the jealousy continues as Adamstown transport system is better than any in Lucan and the units rent out far more quicker (Ask any Estate Agent in the vicinity)

    Facts: 1381 units built ,1155 lived in hardly anywhere close to the 75 % empty units some people are claiming.
    3 Developments Adamstowncastle ,Adamstownsquare southern end of Adamstown and the Paddocks which is the Northern End The Paddocks which is currently independent from the other 2 developments .

    Transport and Amenties :
    Train Station to Heuston (20 mins )
    151 Bus Service (50 min to the City Centre) soon to be replaced by the new 25b service.
    1 X Secondary School
    2 X Primary Schools
    1 X Creche
    1 X Mini - Market & Off-License (Londis)
    1 X Pizzeria Restaurant & Take-Awayh

    All in operation and all doing well by all accounts!

    Prices have dropped 150,000 Euro from Peak 2006 Levels and the developers will only build more units if the supply will come (Pretty much the same situation everywhere in the country)

    Close too: Finnstown House Hotel with beautiful grounds to walk around.

    From the Adamstown developments Finnstown Shopping Centre is a 5 -15 walk depending on which end you live in.

    Shops : Pharmacy,Newsagent ,Hairdressers,Building Sociey , Medical Centre,Chinese Restaurant & Takeaway, Lord Lucan Pub & Restaurant.

    Superquinn Shopping Centre 15 min walk from The Paddocks Developement and a 20-30 min walk from the Adamstown development or a 5min drive.


    Building work is off a high quality and all developments are well landscaped all units are a good size and bigger than the average which most 3 bed units averaging 1300 sq feet


    Hope this helps people looking for a more honest and knowledgeable information on Adamstown and for more information
    Log onto www.adamstown.ie

    I love this. 1155 properties occupied, say 2 people per property thats 2300 people approx. A reasonable size town by Irish standards. Yet only has 1 shop and 1 take away. No pub, and 1 bus. Yeah sounds like a real happening place. No wonder people are jealous.

    By the way Finnstown does not have a "shopping centre" by any understanding of that term.


  • Closed Accounts Posts: 151 ✭✭l5auim2pjnt8qx


    OMD wrote: »
    I love this. 1155 properties occupied, say 2 people per property thats 2300 people approx. A reasonable size town by Irish standards. Yet only has 1 shop and 1 take away. No pub, and 1 bus. Yeah sounds like a real happening place. No wonder people are jealous.

    By the way Finnstown does not have a "shopping centre" by any understanding of that term.


    Adamstown is in it's infancy stages of development and if it was miles from anywhere else it would struggle but its not 200 yards from my unit and I'm in Lucan where Adamstown lies on the Perimeter of Finnstown and Superquinn Shopping Centre alot closer than most estates in Lucan so it has the best of both worlds.
    I'll second the sour grapes remark as it now appears some people know as little about Lucan as Adamstown.
    According to the Commercial units in Finnstown the address does say Shopping Centre ,Hint (Google China House Lucan ).


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 2,458 ✭✭✭OMD


    Adamstown is in it's infancy stages of development and if it was miles from anywhere else it would struggle but its not 200 yards from my unit and I'm in Lucan where Adamstown lies on the Perimeter of Finnstown and Superquinn Shopping Centre alot closer than most estates in Lucan so it has the best of both worlds.
    I'll second the sour grapes remark as it now appears some people know as little about Lucan as Adamstown.
    According to the Commercial units in Finnstown the address does say Shopping Centre ,Hint (Google China House Lucan ).

    OK you got me. I am jealous. Finnstown has a shopping centre albeit a shopping centre that has only one shop:rolleyes:.

    Within a mile walk of the centre of Adamstown there is damm all. To pretend otherwise is stupid. Within 2 miles of the centre of Adamstown there isn't much more.

    Comparing Adamstown to Lucan is not great either. The area of Lucan South of the N4 is a hole, that very few in there right mind actually want to live in. It just happens that Adamstown is far worse. Oh no I forgot. Adamstown has a bus. Great:rolleyes:


  • Closed Accounts Posts: 151 ✭✭l5auim2pjnt8qx


    OMD wrote: »
    OK you got me. I am jealous. Finnstown has a shopping centre albeit a shopping centre that has only one shop:rolleyes:.

    Within a mile walk of the centre of Adamstown there is damm all. To pretend otherwise is stupid. Within 2 miles of the centre of Adamstown there isn't much more.

    Comparing Adamstown to Lucan is not great either. The area of Lucan South of the N4 is a hole, that very few in there right mind actually want to live in. It just happens that Adamstown is far worse. Oh no I forgot. Adamstown has a bus. Great:rolleyes:


    Within 1 KM from Adamstown is Superquinn Shopping Centre,including Dunnes Stores,Florist,Pharmacy,Coffe Shop,Jewellery,Macdonalds,Video Store,Newsagent,Medical Centre,Library,Barbers,Shoe repairer
    within
    half a kilometer is Finnstown House Hotel with many people coming from afar to withness the beautiful grounds and drink in one of its bars across the road is The Lord Lucan Pub.
    2km run down past the Newcastle Road is Lucan Village with many bars ,banks & restaurants.

    Lucan Pitch & Putt and Gaa Club 500 metres.

    Hmmmmm Not much at all. It appears your knowledge appears to be somewhat clouded.And where did you say you where from?

    It's quite amusing educating know all know little brigade.?


  • Closed Accounts Posts: 15,116 ✭✭✭✭RasTa


    lol how much have Castlethorn Construction paid you? I have never heard anyone going on like that about their area. Unless you are just trying to fool yourself.

    Oh just so you know I've being driving around Adamstown the past 3 weeks with my driving instructor, I'm no expert on the area but every evening the car park is deserted, which for me is enough reason to believe that it's a ghost town. That and the fact there is nobody about!


  • Closed Accounts Posts: 151 ✭✭l5auim2pjnt8qx


    RasTa wrote: »
    lol how much have Castlethorn Construction paid you? I have never heard anyone going on like that about their area. Unless you are just trying to fool yourself.

    Oh just so you know I've being driving around Adamstown the past 3 weeks with my driving instructor, I'm no expert on the area but every evening the car park is deserted, which for me is enough reason to believe that it's a ghost town. That and the fact there is nobody about!


    The carpark your referring to is the Park and ride down beside the Train Station ,your right your no expert of the area ask your instructor to bring you into Castle Way the main road in Adamstown and without your blinkers you may even see people.Sounds like all the instructor is bringing you is along the Adamstown Link Road and up beside the Train Station.
    I have alot of Criticism of Castlethorn ,the only reason I'm pushing Adamstown is the lack of knowledge people have on here have about the area calling it a Ghost town when I have already pointed out the population and amenties brings arrogance to a blinding new level.
    If yourself and others have a chip on your shoulder regarding poor building regulations over the Celtic tiger years do your homework before slagging an area you are pigeon holing and obviously know nothing about.


  • Registered Users, Registered Users 2 Posts: 12,917 ✭✭✭✭iguana


    It's quite amusing educating know all know little brigade.?

    Why would you think people are jealous of Adamstown? I suspect a lot of people who advised the OP not to buy could live in Adamstown just as easily as the OP could. What have they to be jealous of? If I had seen this thread back in April I would have advised the OP to avoid the place like the plague too. At best Adamstown will continue on as a ghost town and the unoccupied and unfinished units will start to rot. Or worse it could become pretty much a ghetto. Or worst of all, and most likely, it will be a mix of both.

    Even now it's horrible out there. I don't have the vocabulary to express how disturbing I find so many empty units. The amenities you describe sound very basic and not at all a good reason to move somewhere. Where in Dublin doesn't have a few shops? I live in Templeogue village, which is a bit crap for amenities imho, but it has more than you have described in Adamstown. And I can walk to Rathfarnham shopping centre in under 5 minutes and Rathfarnham and Terenure villages in 10 and 15. I could live in Adamstown if I wanted, I could rent or buy one of the bigger houses for sale out there. It's not jealousy that motivates me to advise someone to avoid the place, it's human decency.


  • Closed Accounts Posts: 1 mikegus


    same distance to town same prices & new luas line, try citywest or saggart


  • Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭the_syco


    Ask any Estate Agent in the vicinity
    You do talk like an EA...
    OMD wrote: »
    Within a mile walk of the centre of Adamstown there is damm all. To pretend otherwise is stupid. Within 2 miles of the centre of Adamstown there isn't much more.
    Within 1 KM
    OMD stated from the centre of Adamstown, not a KM from it's outskirts.
    1381 units built ,1155 lived in
    Would love to see where you got these figures from.
    I have been here from the start and I can assure you Adamstown is not a Ghost town or anywhere close
    You have been where from the start? In Adamstown, or down the road in
    Lucan
    ?


  • Closed Accounts Posts: 151 ✭✭l5auim2pjnt8qx


    iguana wrote: »
    Why would you think people are jealous of Adamstown? I suspect a lot of people who advised the OP not to buy could live in Adamstown just as easily as the OP could. What have they to be jealous of? If I had seen this thread back in April I would have advised the OP to avoid the place like the plague too. At best Adamstown will continue on as a ghost town and the unoccupied and unfinished units will start to rot. Or worse it could become pretty much a ghetto. Or worst of all, and most likely, it will be a mix of both.

    Even now it's horrible out there. I don't have the vocabulary to express how disturbing I find so many empty units. The amenities you describe sound very basic and not at all a good reason to move somewhere. Where in Dublin doesn't have a few shops? I live in Templeogue village, which is a bit crap for amenities imho, but it has more than you have described in Adamstown. And I can walk to Rathfarnham shopping centre in under 5 minutes and Rathfarnham and Terenure villages in 10 and 15. I could live in Adamstown if I wanted, I could rent or buy one of the bigger houses for sale out there. It's not jealousy that motivates me to advise someone to avoid the place, it's human decency.

    You need to read the postings carefully I said alot of people in Lucan where jealous of Adamstown from the start different argument, Adamstown is four year old different argument.In an ideal world we would all love to live in Templeogue but for obvious reasons can't.
    There is 150 -160 units not occupied between 3 massive developements,on average 5 or 6 units are being occupied per month even in this recession .
    Read the stats come out and visit Adamstown show homes are open several times a week ,at least have a formulated educated guess instead of a snobish opinion.It's the people like yourself with elevating yourself to an arrogant level with no knowledge of what your waffling on about.
    Maybe its best for Adamstown if someone like yourself doesn't move here.


  • Closed Accounts Posts: 151 ✭✭l5auim2pjnt8qx


    the_syco wrote: »
    You do talk like an EA...



    OMD stated from the centre of Adamstown, not a KM from it's outskirts.


    Would love to see where you got these figures from.

    You have been where from the start? In Adamstown, or down the road in

    ?

    If I talk like an estate agent we all have our crosses to bear.
    Adamstown has 3 developements so far built around Finnstown grounds
    not sure where the middle would be but I've best written how long it would take from personal experience to get there.
    Check www.adamstown.ie for figures if still unsure pen and paper and a lengthy stroll would suffice.


  • Advertisement
  • Registered Users, Registered Users 2 Posts: 12,917 ✭✭✭✭iguana


    In an ideal world we would all love to live in Templeogue but for obvious reasons can't.

    You'd be surprised what the monthly mortgage payment on a place in Adamstown would get you if you were renting.


  • Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭the_syco


    It's odd. According to http://www.adamstown.ie/index.php?option=com_content&task=view&id=509&Itemid=291 a high percentage of the units are occupied, but whenever I'm there, it feels like a ghost-town. When I drive through the place, I rarely see any signs of life. True, I haven't been through there in the last 2 months, but still, odd.


  • Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    the_syco wrote: »
    It's odd. According to http://www.adamstown.ie/index.php?option=com_content&task=view&id=509&Itemid=291 a high percentage of the units are occupied, but whenever I'm there, it feels like a ghost-town. When I drive through the place, I rarely see any signs of life. True, I haven't been through there in the last 2 months, but still, odd.

    Its a rather stark example of a 'dormer town' where most of the residences are vacant during the daytime (if you visit at the weekend there is a lot more life there).

    I see the residents committee have lodged an appeal against the new set of traffic lights at Hillcrest, given its adding 4-5 minutes to exit onto the N4 or head up towards the 12th lock in the evening. It wasn't so much an issue over the summer months- but by god you notice it in the morning with all the school runs.......


  • Registered Users, Registered Users 2 Posts: 10,148 ✭✭✭✭Raskolnikov


    I rent in Adamstown (no axe to grind), so here are the facts.

    Good points.
    1. It's not a ghost town. It might be quiet, but if you look at the car parking areas after 6, you'll see all the spaces are taken.
    2. The build quality of the houses is actually not too bad, and they're rather spacious (by Irish standards at least). There is no high-rise and the grounds and area are actually very, very well kept.
    3. Relative to other areas of Dublin, prices are very cheap.
    4. It feels very safe and I haven't encountered anyone who has spoken of anti-social problems in the area.

    Bad points.
    1. It really only suits people working in West county Dublin, the likes of Swords, Dun Laoghaire wouldn't be an ideal commute.
    2. The bus service is crap and the train isn't as useful if you're looking to get into the city centre.
    3. Amenities-wise, there's enough of the basics (shops, doctors, schools), but if you're looking for anything to do (pubs or restaurants), you really do need to go somewhere else.

    Overall, I think it's an fine place to live in. In fact, I would even say it's one of the better areas of Dublin that I have lived in. It's certainly not a ghost town, a slum, or the next Ballymun.


  • Registered Users, Registered Users 2 Posts: 186 ✭✭TheCityManager


    The main reason the Op sould not buy in Adamstown (besides all the excellent advice already given) is that in 12-18 months he will most likely be able to get his 210k property for 120k.....why would he buy now???

    Place like Adamstown will see the worst of the price falls that have yet to come as the country falls apart ..............................:mad:


  • Closed Accounts Posts: 151 ✭✭l5auim2pjnt8qx


    The main reason the Op sould not buy in Adamstown (besides all the excellent advice already given) is that in 12-18 months he will most likely be able to get his 210k property for 120k.....why would he buy now???

    Place like Adamstown will see the worst of the price falls that have yet to come as the country falls apart ..............................:mad:


    There where 2 types of Developments built within the Celtic Tiger Years Good ones and bad ones
    The bad ones where poorly built with little thought put into infrastructure and amenties, they sold the developer goes.
    The good ones where built to a high standard of quality in this country and alot of thought was put into infrastructure,amenties in level to meet the communities needs and also the surrounding communites already in place.

    Adamstown falls into the 2nd category if a 210k unit is worth 120k next year so will all properties in the county .I am a resident in Adamstown 4 years now and can vouch for that.

    Place that don't have enough facilites I agree will be worst hit "Adamstown is not one of these"
    With as much free knowledge that I can give have proven on here that Adamstown is not a Ghost town and anywhere near it

    "I'm not saying its the best place to live and definitely saying its not the worst place" its a community and town in the making that was one of The Celtic Tiger Years better developements and will certainly holds it's own against any other Town in times to come.


  • Advertisement
  • Closed Accounts Posts: 15,116 ✭✭✭✭RasTa



    Adamstown falls into the 2nd category if a 210k unit is worth 120k next year so will all properties in the county .I am a resident in Adamstown 4 years now and can vouch for that.

    What? How does that work....


  • Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Estate agents are already advising possible sellers that if they want to shift an apartment that a realistic asking price is EUR174k for a 2 bed, or EUR189k for a three bed......Ow!!! The only way to sell is to appeal to investors- at prices that make servicing the capital a reasonable proposition...... McDonald Brothers in the village have a number of different type units for sale second hand :(


  • Registered Users, Registered Users 2 Posts: 413 ✭✭noxqs


    I thought I heard the OP say he is 25 and asking what the rental potential would be on his 210k mortgage property in Adamstown.

    Wow.

    I can not believe there is still people willing to get themselves into massive debts in the hope of making a buck. You do realize, you're not getting a free house. That is over. The hassle of it alone is not worth the pathethic potential return on investment.

    Have no one ever heard of the stock or bonds markets? A house in comparison is a laughable investment. It tracks inflation spot on (there will be no more bubbles in this area for a few generations. Forget it).

    The boom is over. It ain't coming back. And 210k in Adamstown is not even a good deal if you shave another 100K off the price. You're 25 so you may not

    know better in terms of history. But you're born in the age of google - go look up Japans house price bubble and how well that turned out. It's as close in the western world as you can get.

    Japanese_House_Price_Index.gif


    30 Years later. Prices are still below the prices BEFORE THE BOOM TOOK OFF. And Japan is a far more advanced economy than the current picture in Ireland.

    So - if you buy to live there for 30 years, it will cost you more in interest and inflationary loss than renting. Right now buying is dead money. You will literally be loosing money even if you had a tenant thru the entire time just by loosing money to inflation versus using money to gradually build up solid savings with stock/bonds. Unlike a house, they will actually not only track inflation, but yield returns on top of it.

    P.S. Stop spamming the forum about Adamstown using different profiles.


  • Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    majak wrote: »
    I bought a house in stratton (adamstown square) last year and i am very unhappy with it. there were many problems with the house and construction company. if i could turn back time, i would have never bought it!

    As per my comment on the previous thread- identify where you wish to post (a single thread) and remove your additional posts (4 to be removed thus far). Cross posting in different fora is not allowed (and as for copying and pasting in the same forum on different threads- while I understand your frustrations- its not appropriate either).

    Regards,

    SMcCarrick


  • Closed Accounts Posts: 3 majak


    Hi
    I think that buying to live (not to invest) is not a bad thing.
    Everybody wants to have a place to call their own.
    I bought a house in Adamstown last year and my mortgage is cheaper than we would have to pay for rent.
    Living here has pluses and minuses.
    I personally like Adamstown because it's neat, quiet and has schools & train station.
    I don't mind that is multinational, but would love to see more irish people moving in.
    Bad thing for me was negligence of the building company. that caused months of stress and put me off living here completely :/

    i wish good luck with what ever you choose to do.


  • Advertisement
Advertisement