What to do with an apartment in Inchicore

thegreengoblin · 25-11-2010 1:00pm #1

I have an one bed apartment in Inchicore which is currently being rented out. I bought the place as somewhere to live for myself in 2002 but as time moved on and I started a family I had to rent a house which is what I've been doing for the last few years.

I had the apartment valued and got quite a shock even allowing for how bad it is these days. So now I'm in negative equity, I have to keep renting it out as I couldn't sell it for its current value. Is renting it out going to be my only real option for the next few years?

25-11-2010 1:06pm

Renting out is your only option really unless you take the hit and sell. If you can afford to rent it out I'd be happy to keep doing so if I was you.

brianrcarney · 25-11-2010 1:06pm

think you answered your own question there.... if you can't afford to sell it at current value and prices are likely to drop further your stuck renting imho

thegreengoblin · 25-11-2010 4:33pm

I just hope rents will stabilise, it's been dropping every time I get new tenants in.

25-11-2010 4:47pm

thegreengoblin wrote: »

I just hope rents will stabilise, it's been dropping every time I get new tenants in.

Yeah, it's either drop the rent or leave it empty unfortunately. Good value out there now for folks renting.

who_ru · 25-11-2010 4:56pm

There isn't good value everywhere mind you, at least not in many parts of dublin, and there's even less value of you're renting a place on your own.

25-11-2010 5:22pm

No doubt, I shared a lovely 4 bed detached house in Galway last year, the rent was €950 ish I think. 8 years ago I shared a 4 bed semi d in Clondalkin that was €1250.

John Mason · 25-11-2010 7:52pm

if you can keep it rented, i would hold on to it

you never know in 20 years it might be worth something or the kids can use it as a crash pad when they go to college:)

thegreengoblin · 26-11-2010 11:05am

irishbird wrote: »

if you can keep it rented, i would hold on to it

you never know in 20 years it might be worth something or the kids can use it as a crash pad when they go to college:)

Well, the new DART line is scheduled to stop at Inchicore around 2018 so I suppose I'll have to hang on until then at least. Oh, wait....I've just heard Ireland is getting an interest-free bailout and Brian Cowen is on his way to the Aras. :rolleyes:

What to do with an apartment in Inchicore

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