Buy a 2-bed in Tallaght or 1-bed in Harold's Cross?

jayjay2010

This might seem like a silly question, but just trying to make up my mind as to which option makes more sense.

I am a first time buyer. I'm looking for a place that I would be comfortable living in, but I also would like the option of renting it out in the future and hopefully after a number of years selling it on.

I have lived in Tallaght for many years and I would be very familiar with the overall area.

However an opportunity has come up to buy a 1 bed 32sq/m apartment in Harolds Cross for the same price as the 2 bed 72sq/m apartment in Tallaght.

I'm torn between the 2 because 1) Tallaght I think will be the better option financially in the long run but 2) Harolds Cross is a much better area and close to city centre.

Might sound a bit silly but what would you do?

MarkAnthony

Harold's Cross probably, still a bit far out for my liking. I'm perhaps being judgemental but what sort of tenants are you likely to get out in Tallaght? Now I'm fully aware there are many nice people in Tallaght but would professional renters be that far out? (Honest question).

Tabnabs

Would two beds not get a better return than just the one?

MagicMarker

MarkAnthony wrote: »

Harold's Cross probably, still a bit far out for my liking. I'm perhaps being judgemental but what sort of tenants are you likely to get out in Tallaght? Now I'm fully aware there are many nice people in Tallaght but would professional renters be that far out? (Honest question).

No, there are no professionals in Tallaght.

Mother of christ...

athtrasna

Charter reminder.

Mod

Celly Smunt

MarkAnthony wrote: »

Harold's Cross probably, still a bit far out for my liking. I'm perhaps being judgemental but what sort of tenants are you likely to get out in Tallaght? Now I'm fully aware there are many nice people in Tallaght but would professional renters be that far out? (Honest question).

I suppose this is a legitimate question, after all there are only about 100+ multinational bases down the road. Surely nobody from tallaght works in those...

athtrasna

Enough of the smart comments, back to the original question at hand please. No more warnings
Mod

jayjay2010

I know the demand for rental accommodation in Tallaght is very very strong (a few months ago, me and a friend struggled to find a place to rent, we are both working full time professionals and had references ready). Luckily I got approved for a mortgage soon after and hoping to get a place soon.

The 2 bed apartment in Tallaght I can easily rent a room out and get income in that way. The 1 bed in Harolds Cross, although in a better location I don't think I would be able to rent it out for as much as the 2 bed in Tallaght. The management fees are about 300 euros cheaper per annum in Harolds Cross.

Very hard decision to make! If I had to make a decision right now I honestly don't know that I would do...

the_syco

How big are they? One large one bed may get better interest than a 2 bed where you can't swing a cat.

ncur

jayjay2010 wrote: »

However an opportunity has come up to buy a 1 bed 32sq/m apartment in Harolds Cross for the same price as the 2 bed 72sq/m apartment in Tallaght.

The 2 bed in Tallaght is twice as big as the 1 bed in Harold's Cross.

Atlantic Dawn

32sqm is tiny, my living room is nearly bigger, I believe it would be too small to have any level of enjoyment in life and it would only appeal to basket cases for rent, I would go with the 2 bed 72sq/m in Tallaght.

Electric Sheep

Which has easier access to your workplace? That would be a big factor for me.

moc moc a moc

Step 1: Buy the two-bed in Tallaght
Step 2: Let it
Step 3: Rent an apartment in Harold's Cross
Step 4: Profit?

hawkelady

The apartment in tallaght would be the one I would go for without a second thought.

Goldigga

OP - Where in Tallaght is the 2 bed?

quadrifoglio verde

So the two bed in tallaght costs the same as the one bed in harolds cross, but would rent for more.
You've lived in tallaght for many years so are most likely settled there, have friends in the area etc.
The two bed is twice the size as the one bed, giving you more living space as well as letting you entertain etc, whereas the 1 bed is tiny.

Everything is pointing towards the 2 bed in tallaght. Better quality of life in the short term and better financial gain in the long term .

Generally I favour one beds over two beds as the one bed generally gives the greater yield in percentage terms. However in this case, the two bed clearly does so I'd be going two bed.

As for the poster who suggested he buys in Hampshire, rents it out and rents in harolds cross, income tax (at most likely the top rate) on the rent in tallaght would make that very expensive.

jayjay2010

-the 2 bed in Tallaght is near the square shopping centre, very central location with all amenities at your doorstep

-I was thinking of buying to let, not right away of course but maybe if I decide to rent elsewhere

-I currently work in Tallaght so I could potentially walk to work if I buy the 2 bed apt

-yes the 2 bed apt is over twice the size of the 1 bed in Harold cross and has a large balcony, the Harold cross one has no balcony

johnnyskeleton

If the options are binary i.e. either 2 bed in Tallaght or 1 bed in Harolds Cross and no other options such as renting, I'd say the Harolds Cross apt is so small that its too risky so Tallaght wins by default.

However, I'd also ask if you think prices generally (and specificially in those areas) are going to go up down or stay the same. You have to make that call for yourself. If they are likely to go down significantly, dont buy. After that, work out the rental vs buying pros and cons. If you still buy and lose out, at least you will have gone in with your eyes open.

Best of luck whatever happens.

Qualitymark

MarkAnthony wrote: »

Harold's Cross probably, still a bit far out for my liking. I'm perhaps being judgemental but what sort of tenants are you likely to get out in Tallaght? Now I'm fully aware there are many nice people in Tallaght but would professional renters be that far out? (Honest question).

Harold's Cross is the same distance from the GPO as Rathmines.

However, a shoebox is a shoebox. I'd go for Tallaght.

MouseTail

I'll go against the grain, and pick Harolds Cross. Location very time.

MarkAnthony

MouseTail wrote: »

I'll go against the grain, and pick Harolds Cross. Location very time.

What's wrong will Tallaght?!?!

On a serious note no offence intended I simply wasn't aware there was the industry out there that there is, I thought it was a dormitory 'town' for Dublin as most of the people from there I come across are working in the centre. That said I suppose given I work in the centre and not Tallaght that makes sense.

Incidentally though given the good prices out there wouldn't settled professionals be more likely to buy rather than the more transient population of the city centre?

quadrifoglio verde

MouseTail wrote: »

I'll go against the grain, and pick Harolds Cross. Location very time.

It's further away from the ops work .Save for some red brick houses and a close walk to town what does harolds cross have going for it when it comes to the ops situation.

Moonbeam

When I bought my 1st house I had a choice between a one bed shoebox in town that I could walk to work from and a 2 bed house in Dublin but way out.
The house was on the Dublin area rail line and in an area of high demand for rental properties.
I went with the 2 bed because I could rent a room out and it had a garden and was a house.
I ended up renting out my spare room to friends and various stages and eventually moved on due to starting a family.

So if it is not forever then Tallaght.