Likelihood of letting out

GrabTheCREAM

Hi, so I own property in Donegal which has the value of roughly 250k and I get 850/month from my tenants, but I am considering selling this property to buy one in Dublin and then to let it out

Basically, I'm not too sure where people in Dublin prefer to live and where it is likely I'll get someone to live in the house. I have seen apartments within my price range in areas like Tallaght, Clondalkin, some in Sandyford too, but I'm not too sure that, if I ended up buying the property, that it would get let out. I've only really dealt with letting out rooms in central areas like Ranelagh, Stillorgan, etc. so not too sure about these areas.

Can anyone offer some insight into this?

Thanks in advance

Fol20

GrabTheCREAM wrote: »

Hi, so I own property in Donegal which has the value of roughly 250k and I get 850/month from my tenants, but I am considering selling this property to buy one in Dublin and then to let it out

Basically, I'm not too sure where people in Dublin prefer to live and where it is likely I'll get someone to live in the house. I have seen apartments within my price range in areas like Tallaght, Clondalkin, some in Sandyford too, but I'm not too sure that, if I ended up buying the property, that it would get let out. I've only really dealt with letting out rooms in central areas like Ranelagh, Stillorgan, etc. so not too sure about these areas.

Can anyone offer some insight into this?

Thanks in advance

I would never and I will repeat never buy a property unless you have done some research in it. One of your biggest assets when buying investment property is local knowledge of the area. For this very reason since I’m not from Dublin and and you seem to be in the same boat, you shouldn’t invest in it especially considering the value and also transactional costs involved. Stick to what you know and unless you know locals in Dublin, I wouldn’t invest in it. For your price range of around 250, you would also be getting properties in not so nice areas potentially but I’m open to correction on that since I don’t know the Dublin market well enough.

Claw Hammer

You will have no problem getting tenants in Dublin. The big problem will be getting rent out of the tenants you do get.

Rachiee

Youll get tenants in every area in Dublin no problem. the rental prices are higher in some places than others though.

GrabTheCREAM

If not for buying to let out, what is the general opinion on buying to live? I know 250k wont get much here but I could stretch it out to 300.. would like to stay central (Currently in Stillorgan). Or is buying a house in Dublin a bad investment?

Samuel T. Cogley

300K would put you in a house in Kilbarrack, possibly Crumlin and other areas which typically are thought of as rough, but actually are grand and now full of people that could spot a bargain.

Apartment-wise you'd have no issues really @ 300K and there would be some reasonable options. Personally though I wouldn't spend that much on an apartment if a house was an option.

Apartment's to rent out in Dublin is a very risky bet at the moment. I'd suggest D8 - Maltings or similar and Airbnb but who knows what is going to happen with Airbnb in the next few months. You should get a one bed there for about 170K with a bit of tarting up you should be looking at a decent yield.

Dr_Kolossus

If you don't mind a bit rough, (as its just an investment property) you could buy a 3 bed semi in mulhuddard (right beside blanchardstown), castlecurragh or warrenstown. Rent is around 1700+ per month due to proximity to numerous large employers.

Edit: you can get a property between 220-250k

DevLit

The Coast in Baldoyle has good ROI. Rentals cost between 180-350K and yield between 1200-2000 based in what you buy.

Wesser

What is the general opinion in buying a house in Dublin to live In? As opposed to renting it out?

This a very strange question... surely one makes the decision to live in Dublin first and the house comes after....
I mean do you have a job in Dublin or do you know anyone in Dublin?

In short, the areas that are good to buy in are more expensive. Demand is reflected in the price. So.if it's affordable, the area is not in Demand, or in n less demand than other areas.