Max to spend on 2 bed in Dublin

coredev123

Hi

This isn't a personal situation, however, I'm just curious.

How much would be recommended to spend on a 2-bed apartment on Dublin, 10 minutes from a train station?

There's one in my estate that cost 275K for a 765 sqft apartment. This sounds like a lot to me, but is it really? What would be your cap.

Caranica

coredev123 wrote: »

Hi

This isn't a personal situation, however, I'm just curious.

How much would be recommended to spend on a 2-bed apartment on Dublin, 10 minutes from a train station?

There's one in my estate that cost 275K for a 765 sqft apartment. This sounds like a lot to me, but is it really? What would be your cap.

Recommended or realistic? To me that place in your estate sounds like a bargain, particularly given current rents.

DublinCJM

coredev123 wrote: »

Hi

This isn't a personal situation, however, I'm just curious.

How much would be recommended to spend on a 2-bed apartment on Dublin, 10 minutes from a train station?

There's one in my estate that cost 275K for a 765 sqft apartment. This sounds like a lot to me, but is it really? What would be your cap.

I just sold mine, same size, 5 mins from Dart station for €395k.

All depends where it is, what the management fees are, is there parking, loads of things really.

voluntary

You get a nice one for 180k if you're willing to move to Finglas, Ballymun or Tallaght.
Tallaght would have the best commute links (luas).

PhoenixParker

About right for my area (Ashtown)

+25k for bigger/closer to train station
-25k for smaller/further/steps to enter

Samuel T. Cogley

Saw that sort of price for a 2 bed in Donaghmede recently. It really depends what train station it's near.

coredev123

Samuel T. Cogley wrote: »

Saw that sort of price for a 2 bed in Donaghmede recently. It really depends what train station it's near.

It's in Baldoyle. It would be 10 minutes from Clongriffin, 15 minutes from Bayside, and probably 20 minutes from Sutton.

0gac3yjefb5sv7

2 bed in Harmonstown went for 326k recently, it was a house built onto another but a small corner plot and 6 mins to the DART? Seems a lot.

Graham

Mod Note

Sorry for the delay folks. Thread reopened.

SozBbz

There are 2 bed apartments around the €1million mark in Dublin right now - granted they're large and in the best areas, but all the same.

€275k isn't madness depending on the apartment. If the management fees are reasonable, the amenities good, energy rating etc etc.... not to mention a good location.

Its far from the ceiling price for Dublin.

Fiftyfilthy

voluntary wrote: »

You get a nice one for 180k if you're willing to move to Finglas, Ballymun or Tallaght.
Tallaght would have the best commute links (luas).

I have been looking for a long time in these areas and that’s not true

The absolute **** holes in ballymun might go for 180k but they really are awful as an apartment


Apartments in finglas go for over 200-220k mark in general

0gac3yjefb5sv7

Really hard to gauge it. Anyone looking in the Harmonstown / Raheny area?

thencamethen

Artane (Killester dart station 20 mins by foot), Timber mills, around 225-280k.

hots

thencamethen wrote: »

Artane (Killester dart station 20 mins by foot), Timber mills, around 225-280k.

You'd be hard pushed to find them at that price any more I think, few in Timber Mills were very steep the last time I was looking.

thencamethen

hots wrote: »

You'd be hard pushed to find them at that price any more I think, few in Timber Mills were very steep the last time I was looking.

Agree, but it's still doable, you can check property price register. type "timber" and you'll see that the prices for private sales are in the region of 250k.

I really like also Tolka vale apartments / Premier square. prices around 250k, maybe a bit more, but it's 2 bath vs 1 bath 2 bed in Timber Mills. Artane is close to Dart though.

thencamethen

OP, if you let a room and pay 20% for the average of 240k, with 3% interest rate, 32 years term, the rent will cover the mortgage almost completely (even though I rented for 30% lower than what I saw on daft for my apt block, to a friend). What's left to pay is LPT around 100 per year (will increase most likely, so maybe 200 next year), insurance (300 per year), management fee (1000 - 1500, but it depends, mine for example is 1200). Say, you realistically got 650/month for a room. You'll be paying around 3000 euro per year + bills for owning the apartment. But you'll be sharing it at the same time.

My worst case scenario was - the market falls into a hard recession and prices fall 2 times. What am I going to do?
So instead of 650 you'll get only 400 for renting a room, your interest rate is now 5%. Instead of 750 per month you'll need to pay around 1000. still, its pretty much ok, you'll need to cover 600*12 + lpt/fees + bills. Not good, but it's fine for some time.

I think 250 is the good price for 2 bed apartment, but for me personally (I'm single in early 30s) it seemed too risky to go up. I don't know your circumstances, but if you have more capital, then for 300 I guess you can find something pretty decent, with better views / dart / 2 bath / gas heating / fresh renovation. But prices for managing it will be higher as well.