What type of house should I buy?

MarieDon

Hi, I'm a 32 year old single professional. I am hoping to find a partner and have two kids by the age of 40 (please god). I have been renting in Dublin since I was 17 and after listening to people tell me I should pay money off a mortgage rather than giving it to a landlord, I have been searching to buy a property for the past year. Originally I looked for a 2-bed apartment (I would rent out one room) but after losing out on many bidding wars, I started looking at small houses. I currently have an offer accepted on a small 3-bed terraced house (it has no driveway and is part of a multi-unit development). My mum thinks it may not sell well if I want to move on and sell it after a few years because it is a bit small and with no driveway it is not really an ideal family home. I am in two minds as to what type of property I should be buying...an apartment or a small home? Another option is to keep renting and wait until I find my partner and buy an ideal family home with him. Another option is to sell a property that my parents own in the country that would probably sell for €180k (they are reluctant to sell at this price and would ideally like to get €20k more for it). Any advice or words of wisdom would be much appreciated Marie

MarieDon

"even a one bed cottage ( provided its in dublin ) will sell quicker than an apartment , the quality of apartments in this country is terrible and as a people we really never warmed to them , there viewed as a " all i could get at the time " choice

there are cottages in places like marino and north strand for under 200 k"

Thanks for the reply blow_in_1980. I didn't think of this. I think a two bed place would be a better option than a one bed though.

SuzieBlack

This is a tricky situation MarieDon. I think people are afraid to buy a starter home now because of what happened in the crash. I would suggest you buy something that is suitable for now but also suitable if you have kids in a few years. You can always move after that to a bigger place with your partner if needs be. Also if you don't meet your partner until later in life, at least you are living somewhere you like and could consider moving then too. If you don't buy now and you don't meet your partner until you are say 40, I'm not sure what it's like taking a mortgage out at that age. Maybe someone else has advice on this.

davindub

Just about everything sells in Dublin at the moment but if a lot more house come into the market that's when you may have trouble. But what price range are you looking at and areas?

MarieDon

Hi davindub, the price range at the mo is 400k but if I sell the property I have in the countryside i could be looking at 600k. Areas are Killester/Clontarf border.

April 73

In your shoes I would buy a house that suits me. By that I mean that you are 32 and have a decent budget. Buy a property that works for you - area, price, parking, commute etc.

You can't gaze into a crystal ball & know when or if you'll meet someone or their circumstances, or when or if you'll have children. You should buy with yourself now as a 32 year old professional in mind. Somewhere you are happy to live & that works for you now & potentially into the future. That kind of property in a decent location will always sell.

If it were me I'd look for a house with a garden & parking rather than an apartment. Even if it is a smaller house. You should get something in your budget, especially at the higher end.

davindub

MarieDon wrote: »

Hi davindub, the price range at the mo is 400k but if I sell the property I have in the countryside i could be looking at 600k. Areas are Killester/Clontarf border.

Ouch...

If you are ready to purchase, I would go ahead and purchase what you can with the funds available now, prices are rising very fast in those areas.

Anything around Killester & Clontarf seems to do very well at the moment. I personally find the houses in Killester overpriced, very small but they are very popular. A family member bought in Clontarf about 16 months ago for around 550k, those houses will be north of 600k now.

I think you would be able to resell starter homes in these areas even with issues like parking easily enough, its close to the Dart line and close enough to the City but in a downturn they lose value quickly and you might find better value elsewhere, starter homes will be always something people settle for rather than desirable.

Would you consider Artane, Beaumount, Whitehall? You can get a fairly big house at the moment that needs renovation for sub 400k but prices are rising fast. You would be substituting a QBC for the Dart but a short drive without traffic to Clontarf.

Yourself isit

It seems odd that you were outbid two years ago for two bedroom properties if you have 400-600 to spend. The place you are describing sounds good to me though.

noanoa

I have been looking in Clontarf/Killester for the last year. We had a good budget, but got out bid on everything in Clontarf.

We bought in Killerter in February this year. House is a good size, but do get what Davindub is saying some are small with a big price tag. We looked at a good few.
I think we just got lucky at the time with the house and price, if the vendors went to sell it now I think they would of got a lot more.

I would look in Artane also, some lovely houses on sale at the moment.

Wesser

There is no such think as a cottage in marino for less than 200k. Rubbish.

Op I would advise you to go ahead with that house if you like it and it soubds as though it will take a tenant or else a partner and a baby.

If it is in clontarf or killester then it will hold its value, your mother is wrong.

Grawns

Sell your other house first or any gains and more will be wiped out by capital gains tax.