Where to look for renovation opportunities?

VonLuck

I've always been interested in purchasing a property in Dublin city to renovate myself, but I am having a lot of difficulty finding anything at the moment.

I am always searching Daft for properties but every one of them are pretty much "ready to go" and have either been recently modernised or only require a lick of paint and new appliances. I've tried looking on Allsops for auction properties, but again, these seem to be modern enough houses that have more than likely just been repossessed.

What is the best way of finding a good fixer-upper? Do they even exist in the current property market?

DublinDilbert

North inner city would have lots of houses like this, Smithfield, phisbrough, cabra

VonLuck

DublinDilbert wrote: »

North inner city would have lots of houses like this, Smithfield, phisbrough, cabra

Sorry, maybe my post wasn't clear. I meant where can I search for them as opposed to locations where renovation properties might be.

johnnyskeleton

VonLuck wrote: »

What is the best way of finding a good fixer-upper? Do they even exist in the current property market?

Yep, loads of fixer uppers available. However, the prices they ask for are not significantly lower than a turn key house, and a fixer upper job will probably cost you more than one already done up. The madness of the irish property market:

http://www.daft.ie/11161291

lcwill

Most 1990s apartments in Dublin were designed so that when you close the curtains at night you can imagine you are sitting in a very small 1980s bungalow somewhere in the midlands, complete with fake electric fireplace - not in the middle of one of Europe's best capital cities.

Even with a crappy apartment you can add value, boost rent, or just make a nicer place to live, by stripping it back to nothing, putting down decent laminate floors, opening up the kitchen and living space (most have a dark hole of a kitchen), repainting, putting in modern light fittings and a few other little changes...and getting rid of the fecking fake fireplaces!

PhoenixParker

If memory serves the key estate agent buzzword is "potential".

An advanced search for properties with the that keyword and a really poor BER rating might be a good place to start.

Jet Black

I've been looking the last year and seen a few that have needed to be gutted. The problem I've found is that the lower price will generate larger interest from people looking for a bargain. The last cheap place I looked at ended up going over 40% the asking price and on par with houses needing no work on the same street which was madness.

Rothmans

johnnyskeleton wrote: »

Yep, loads of fixer uppers available. However, the prices they ask for are not significantly lower than a turn key house, and a fixer upper job will probably cost you more than one already done up. The madness of the irish property market:

http://www.daft.ie/11161291

Love how the ads says 'Excellent opportunity for builder' right after stating that there's no planning permission. Very Irish.

newacc2015

What is your budget? Dublin 9 has former pre 63s constantly going on the market. But they start at 350k plus and require some serious spending as they can be quite big

VonLuck

newacc2015 wrote: »

What is your budget? Dublin 9 has former pre 63s constantly going on the market. But they start at 350k plus and require some serious spending as they can be quite big

Ideally sub 200k, which is very ambitious, I know. The problem is that I have a single income and would have to take the minimum deposit to ensure I had sufficient cash for renovations.

It always has been my ambition to venture into property redevelopment, but it is proving extremely difficult at the moment.

Sleepy

VonLuck wrote: »

It always has been my ambition to venture into property redevelopment, but it is proving extremely difficult at the moment.

You and every second other person who's watched million pound house; Location, Location Location; Grand Designs and Selling Houses with Sarah Beanie.

Channel 4 has half the country convinced that flipping properties is the path to riches.

John Mason

Finglas!!

if I had a few bob, that's exactly what I would be doing. pick up a house which hasn't been touched since the 60's gut it and rent it back to the council.

there was a load of them going for about 40k a couple of years ago.

Jet Black

John Mason wrote: »

Finglas!!

if I had a few bob, that's exactly what I would be doing. pick up a house which hasn't been touched since the 60's gut it and rent it back to the council.

there was a load of them going for about 40k a couple of years ago.

Not anymore. Cheapest you could get would be around 100k. You'd probably get 150-200k back for a 3 bed in a good location. There is one in Dunsoghly 3 bed for 125k that needs to be renovated. Houses in the area have gone for around 170k. It was bought last year for 115k so could be a money pit.

PhoenixParker

Cabra/Stoneybatter
Lots of tiny (i.e. cheap) run down houses in need of refurbishment.
Area is a bit mixed with good streets and bad streets so you need to be careful but with DIT grangegorman & a Luas line on the cards, value is likely to increase overall.



http://www.daft.ie/dublin/houses-for-sale/cabra/374-carnlough-road-cabra-dublin-1096510/
http://www.daft.ie/dublin/houses-for-sale/stoneybatter/72-kirwan-street-cottages-stoneybatter-dublin-1170963/
http://www.daft.ie/dublin/houses-for-sale/cabra/123-killala-road-cabra-dublin-1165232/

PhoenixParker

Cabra/Stoneybatter
Lots of tiny (i.e. cheap) run down houses in need of refurbishment.
Area is a bit mixed with good streets and bad streets so you need to be careful but with DIT grangegorman & a Luas line on the cards, value is likely to increase overall.



http://www.daft.ie/dublin/houses-for-sale/cabra/374-carnlough-road-cabra-dublin-1096510/
http://www.daft.ie/dublin/houses-for-sale/stoneybatter/72-kirwan-street-cottages-stoneybatter-dublin-1170963/
http://www.daft.ie/dublin/houses-for-sale/cabra/123-killala-road-cabra-dublin-1165232/

Flatzie_poo

PhoenixParker wrote: »

If memory serves the key estate agent buzzword is "potential".

An advanced search for properties with the that keyword and a really poor BER rating might be a good place to start.

This is a good way to search OP, except for the part I've highlighted.

Some old mid-terrace houses can still keep a BER rating upwards of a "D" rating.

The keyword recommendation is spot on.

I used "potential," "modernisation," and "refurbishment" as keywords when looking for mine.