Single and Buying in Dublin

LaAlgerie

Hi all,

I see there are very different set-ups of buyers in threads and I haven't yet seen one for this.

I'm looking to chat and learn from others.

I'm single and saving to buy in Dublin. I guess I slightly prefer house-living, I like gardening a bit and the extra square meters you get with it. It's quite possible I'll end up with an apartment. I'm wary of management fees that don't always add up, and absolutely no garden space is common in areas I've been looking.

I've had more than hour commute for years where I'm living and I've had enough of it. I've turned down many jobs that were a bit too much out of reach. So I'm aiming to cut that commute quite a bit.

I also find that traffic has become worse (in my experience/route) in and out of Dublin city the last few years so I'm sticking to rail routes. I'm taking a look at Dublin Transport Authority's infrastructure plans (these tend to seem like pie-in-the-sky ideas that get cancelled during downturns but...).

Even on a pretty decent salary, higher savings rate and a hefty deposit, anywhere I look about 30 mins from Dublin city gets you a hamster cage :pac:.

There seems to be a long list of compromises. The biggest might be out-in-the-sticks with good space and gardens or more central and throwing a tennis ball inside would hit you back in the face in 1 second . God forbid if you actually like a town or two, showing preference.

Where are you in all of this? What do you like, what do you want to put behind?!

antimatterx

What are you looking for? An apartment with few rooms that you can rent out, or even use them as an office/gym, or a house with a garden? Whats your budget?

LaAlgerie

I definitely don't want to rent out rooms. I would settle for 1 bedroom, 2 would be great. I won't use a second room as a gym/office. I probably will work from home from time to time but I'm pretty mobile - laptop and maybe a printer, maybe not. The gym equip. I have is very light, small and mobile - can be stored.

I can budget up to about €325k though I would prefer closer to €300k.

What did you settle on / compromise on in the end?

antimatterx

LaAlgerie wrote: »

I definitely don't want to rent out rooms. I would settle for 1 bedroom, 2 would be great. I won't use a second room as a gym/office. I probably will work from home from time to time but I'm pretty mobile - laptop and maybe a printer, maybe not. The gym equip. I have is very light, small and mobile - can be stored.

I can budget up to about €325k though I would prefer closer to €300k.

What did you settle on / compromise on in the end?

Would you consider Clongriffin? You'll 2 beds for <250K and theres a Dart station. 20 minutes to town.

I'm looking to buy in the next 1/2 years myself. I need to switch job soon to get that major pay pump before going for a mortgage (The only way to get a decent bump in pay unfortunately.)

Shelga

Hi OP, I'm in the same boat as you. It's tough! And I have a budget a fair bit lower than yours, and I would still consider myself to have a hefty enough deposit. I was going to say, up to €325k can still get you something pretty decent in Dublin, but even after I changed my filters on Daft, the supply of properties is still pretty low, admittedly.

Are you open to any area that's commutable to work? That should open up possibilities quite a lot? I'm looking on the northside, somewhere within cycling distance (8-10km max) to work- this is very important to me. I don't want to have public transport or driving be my only options.

I would live in the right apartment, I don't have my heart set on a house. Depends what you get for your management fee, and I would like at least a balcony. Have seen some gorgeous apartments that don't have a balcony, and that is offputting.

Anyway, good idea for a thread, hope the search ends for both of us soon enough!

Ray Palmer

You could give more details and get a better lot of answers. When you say 30 minutes from city centre it can mean many different things to people. Is it by foot,car,public transport? Realistically to avoid commutes you would mean city centre.

Home office will be seen as a good thing for at least the next decade. So you should get a 2 bed even if you aren't bothered. It is really good to be able to close the office door when finishing work. You will appreciate this later trust me.

You have lots of options in your price range. North Dublin is your best bet. There is a few in your price range in clontarf. Close to St Anne's and the cost easy enough to commute to city centre and further by being close to DART.

Some cheaper properties in Santry close to a big park but lots of Ballymun locals moved in so some say there are issues with neighbours.

If you want to live a city type life then Phibsborough is a really good call. It is going to be the next Rathmines due to the DIT. Very close to the city and Phonex Park.

brisan

https://www.daft.ie/dublin/apartments-for-sale/raheny/2-grange-hall-raheny-dublin-2515844/
https://www.daft.ie/dublin-city/property-for-sale/dublin-13/?s%5Bmnp%5D=200000&s%5Bmxp%5D=325000&s%5Bmnb%5D=2&s%5Bmxb%5D=2&s%5Badvanced%5D=1&s%5Bbd_no%5D=2&searchSource=sale&offset=20

guyfawkes5

LaAlgerie wrote: »

I definitely don't want to rent out rooms. I would settle for 1 bedroom, 2 would be great. I won't use a second room as a gym/office. I probably will work from home from time to time but I'm pretty mobile - laptop and maybe a printer, maybe not. The gym equip. I have is very light, small and mobile - can be stored.

I can budget up to about €325k though I would prefer closer to €300k.

What did you settle on / compromise on in the end?

Be aware that single bedroom properties change the deposit requirements for FTBs.

antimatterx

guyfawkes5 wrote: »

Be aware that single bedroom properties change the deposit requirements for FTBs.

What are the deposit requirements?

guyfawkes5

Overall it's extremely hard being a single buyer, and your salary has to be very large to lift you out of competing with most FTB couples (basically if you halve your salary and it's still a respectable white collar salary for most people, then you might be in trouble).

I would say if you're interested in a garden and being close to the city centre, there are some quite large gardens available in or around your price range in Cabra, Crumlin, and Drimnagh. Obviously this is all about trade offs so if you're not comfortable with that then you might have to adjust your expectations, but otherwise you can get some pretty good deals on decent, isolated roads in areas that will probably slowly improve over time (although who really knows).

You could also potentially edge somewhere around Artane, Glasnevin, or Castleknock, although the pickings are far more slim.

guyfawkes5

antimatterx wrote: »

What are the deposit requirements?

Hard to find directly and it seems to change bank to bank, but EBS mention it here:

If you are buying a one-bedroom property or a studio apartment valued at €275,000 or above, the maximum loan amount is 80% of the property’s value.

I was told before that it was a 25% deposit required if it was single bedroom property.

The logic is that you can't support yourself by renting out the spare room, so this is a slightly larger risk from the bank's point of view.

brisan

https://www.myhome.ie/residential/brochure/3-maryfield-woods-artane-dublin-5/4435672

Gael23

I can afford €200k at a push, looks like I’m pretty screwed.

guyfawkes5

In terms of Dublin, yeah, unfortunately.

You could squeeze somewhere decent in a Dublin commuter town with decent transport links, but then you're surrendering a fair portion of your life to commute (although depending on your work, less of a problem now) and losing that ability to 'drop into the city centre'.

LaAlgerie

antimatterx wrote: »

Would you consider Clongriffin? You'll 2 beds for <250K and theres a Dart station. 20 minutes to town.

I'm looking to buy in the next 1/2 years myself. I need to switch job soon to get that major pay pump before going for a mortgage (The only way to get a decent bump in pay unfortunately.)

I'll have a look at Clongriffin. I've certainly noticed the sheer amount of apartments that have popped up there over the past number of years. Have you had a peek? Any good?

You've hit a major point for me - salary. I'm extremely conscious of that now. After all, every 1k extra you earn = 3.5k extra loan from the bank.

With the way the current market is going, job-wise, I don't feel very job-hoppy. I noticed the crunch over the past few months and it might be worth clinging on to something that nothing.

Shelga wrote: »

Hi OP, I'm in the same boat as you. It's tough! And I have a budget a fair bit lower than yours, and I would still consider myself to have a hefty enough deposit. I was going to say, up to €325k can still get you something pretty decent in Dublin, but even after I changed my filters on Daft, the supply of properties is still pretty low, admittedly.

Are you open to any area that's commutable to work? That should open up possibilities quite a lot? I'm looking on the northside, somewhere within cycling distance (8-10km max) to work- this is very important to me. I don't want to have public transport or driving be my only options.

I would live in the right apartment, I don't have my heart set on a house. Depends what you get for your management fee, and I would like at least a balcony. Have seen some gorgeous apartments that don't have a balcony, and that is offputting.

Anyway, good idea for a thread, hope the search ends for both of us soon enough!

I'm glad to chat with others in the same boat, I think there's a pre-orientation in home-buying here that you're a couple.

Yeah I'm looking at the northside too. You're looking to cycle to work? I'll be jealous of you're excellent health Swimmer's lungs and runner's legs :pac:

Management fees - yep I've got my eye on that. There are lots of threads on that here too. I don't expect a free lunch, I just don't want to pay 2k annually if the 'garden maintenance' is a thin strip of soil out front with a couple of tiny, dotted plants and I've no lift. I picked up a few pointers reading those threads, I'll be asking a few questions when the time comes...

Ray Palmer wrote: »

You could give more details and get a better lot of answers. When you say 30 minutes from city centre it can mean many different things to people. Is it by foot,car,public transport? Realistically to avoid commutes you would mean city centre.

Home office will be seen as a good thing for at least the next decade. So you should get a 2 bed even if you aren't bothered. It is really good to be able to close the office door when finishing work. You will appreciate this later trust me.

You have lots of options in your price range. North Dublin is your best bet. There is a few in your price range in clontarf. Close to St Anne's and the cost easy enough to commute to city centre and further by being close to DART.

Some cheaper properties in Santry close to a big park but lots of Ballymun locals moved in so some say there are issues with neighbours.

If you want to live a city type life then Phibsborough is a really good call. It is going to be the next Rathmines due to the DIT. Very close to the city and Phonex Park.

Thanks a million. I don't want to chat all about me and where I'm looking so I'm happy to just chat and learn from others! I appreciate the tips though!

North Dublin - yep. Although, while just poking around, I did see some places with 2 bedrooms for the same price or a fraction cheaper a tad on the southside. I probably will settle for one on the northside, we'll see. 'Bang for buck' is battling terribly in my head with 'cut commute' as another poster mentions.

guyfawkes5 wrote: »

Be aware that single bedroom properties change the deposit requirements for FTBs.

I got freaked out when I read this - I was wondering did I miss something. No more than 80% LTV? Okey dokey I'm alright there from the numbers I've been crunching.

HTB - Some properties I'm looking at dip below 70% so I'd be ineligible. I'm thinking should I contribute less deposit to get the LTV back above 70% to claim that up to 20k, cap at 5%, previous 4 years income tax, bonus. After starting a mortgage, where I'll quite possibly start with variable, I'd dump the rest of the deposit into the loan after claiming the HTB. There have to be creative ways around this!

Gael23 wrote: »

I can afford €200k at a push, looks like I’m pretty screwed.

A relation got a lovely apartment in Swords for less than that. I've been in it, and it's not a hamster cage. Not sure m2 but not bad. No real gardens but nice place, quiet area. If you don't mind commuting a bit more, you have options.

guyfawkes5 wrote: »

In terms of Dublin, yeah, unfortunately.

You could squeeze somewhere decent in a Dublin commuter town with decent transport links, but then you're surrendering a fair portion of your life to commute (although depending on your work, less of a problem now) and losing that ability to 'drop into the city centre'.

Transport links indeed. Unless you want to be stuck in terrible traffic, or have a helicopter, this is what we have to be looking at I guess. I've lived city-centre before and out-in-the-sticks. I'm tired of passing up good job opportunities when I see the commute is too much. Reading your post reminds me why I need to compromise on space a bit to reduce commute. :rolleyes:

antimatterx

LaAlgerie wrote: »

I'll have a look at Clongriffin. I've certainly noticed the sheer amount of apartments that have popped up there over the past number of years. Have you had a peek? Any good?

You've hit a major point for me - salary. I'm extremely conscious of that now. After all, every 1k extra you earn = 3.5k extra loan from the bank.

With the way the current market is going, job-wise, I don't feel very job-hoppy. I noticed the crunch over the past few months and it might be worth clinging on to something that nothing.

I live on the other side of Clongriffin station in Baldoyle and I love it. It's quiet enought, there are alot of kids and young families, but theres rarely any hassle.

I'd be happy enough to live on any side of the dart station, and that horrible stairs that leads into the Baldoyle side will be replaced when the houses that are currently being built are finished. So it will be much more open.

Heres some properties in Clongriffin that take my fancy

- https://www.daft.ie/dublin/duplexes-for-sale/clongriffin/apt-3-38-railway-road-clongriffin-dublin-2602207/ (Especially this one, it's about a 5 minute walk to the Dart)
- https://www.daft.ie/dublin/duplexes-for-sale/clongriffin/apartment-3-9-beau-park-road-clongriffin-dublin-2578227/

- In Myrtle/Baldoyle, on the other-side of Clongriffin, this one is also quite nice. https://www.daft.ie/dublin/apartments-for-sale/baldoyle/14-morrow-house-myrtle-avenue-the-coast-baldoyle-dublin-2392386/

I think they are good priced properties, and will probably fall a bit over the next year or two.

Grawns

How about this for a compromise https://www.myhome.ie/residential/brochure/apt-3-south-strand-house-south-strand-skerries-county-dublin/4361682

Heres Johnny

You'd afford plenty in Lucan. Some parts of it better than others but should be something to suit

Gael23

guyfawkes5 wrote: »

In terms of Dublin, yeah, unfortunately.

You could squeeze somewhere decent in a Dublin commuter town with decent transport links, but then you're surrendering a fair portion of your life to commute (although depending on your work, less of a problem now) and losing that ability to 'drop into the city centre'.

I can work from home almost whenever I want so it’s just a case of formalising that for a few days a week

brisan

antimatterx wrote: »

I live on the other side of Clongriffin station in Baldoyle and I love it. It's quiet enought, there are alot of kids and young families, but theres rarely any hassle.

I'd be happy enough to live on any side of the dart station, and that horrible stairs that leads into the Baldoyle side will be replaced when the houses that are currently being built are finished. So it will be much more open.

Heres some properties in Clongriffin that take my fancy

- https://www.daft.ie/dublin/duplexes-for-sale/clongriffin/apt-3-38-railway-road-clongriffin-dublin-2602207/ (Especially this one, it's about a 5 minute walk to the Dart)
- https://www.daft.ie/dublin/duplexes-for-sale/clongriffin/apartment-3-9-beau-park-road-clongriffin-dublin-2578227/

- In Myrtle/Baldoyle, on the other-side of Clongriffin, this one is also quite nice. https://www.daft.ie/dublin/apartments-for-sale/baldoyle/14-morrow-house-myrtle-avenue-the-coast-baldoyle-dublin-2392386/

I think they are good priced properties, and will probably fall a bit over the next year or two.

1850 a year management fees on the first one
You would have to earn close to 4 k gross to pay that

antimatterx

brisan wrote: »

1850 a year management fees on the first one
You would have to earn close to 4 k gross to pay that

Ah ****. I didn't notice that.

Thats insane.

brisan

antimatterx wrote: »

Ah ****. I didn't notice that.

Thats insane.

I seen one in Raheny
2 bed 2 bath ground floor ,small complex ,155 a month
I have seen others of over 2 k a YEAR

Anyone buying an apartment should always factor in management fees.
Check out the sinking fund, see if there are any major works in the pipeline,any structural or fire issues.and have management fees increased over the previous years .
Some apt owners will sell if they know are going to rise considerably in the future .
Buying an apt is a different animal to buying a house

guyfawkes5

antimatterx wrote: »

Ah ****. I didn't notice that.

Thats insane.

I wouldn't say it's insane for a Dublin apartment, although you will have to factor in the size, amenities, and condition of the complex when judging the fees.

The range I've noticed while looking for a 250-350k apartment has generally been around €1-2.5k.

brisan

guyfawkes5 wrote: »

I wouldn't say it's insane for a Dublin apartment, although you will have to factor in the size, amenities, and condition of the complex when judging the fees.

The range I've noticed while looking for a 250-350k apartment has generally been around €1-2.5k.

2.5 k,thats 5k a year gross earnings
I would want to have very pressing reasons to want to pay that dead money.

guyfawkes5

What do you mean by 'gross earnings'?

Usually management fees cover building insurance, security, maintenance, cleaning, and sinking fund contributions. How well or badly these things scale usually depend on what exact building or complex is being talked about.

Shelga

brisan wrote: »

2.5 k,thats 5k a year gross earnings
I would want to have very pressing reasons to want to pay that dead money.

It's not dead money, you're paying for the management and upkeep of the complex in which you live. I agree that it's worth investigating thoroughly what the money is going on, because management companies seem to vary hugely in quality. You can also get involved in it more if you want, although I appreciate that lots of people wouldn't care to do this.

I find that the energy rating of apartments I've been looking at is usually much better than the houses I can afford. So if a 70m2 apartment has a B3 energy rating, I'll be paying €700 a year to heat it, instead of ~€2000 if it's say, an F rated house. Plus your refuse collection is covered, and certain insurances I think?

It's not as straightforward as you're making out.

OP, you could definitely get a 2 bed house in Dublin, within walking distance of city centre with your budget.
Cabra, crumlin, some parts of inchicore, even a couple in chapelizod, which is a little further out but lovely

guyfawkes5

Heating in apartments is an interesting one.

On the plus side, you can have apartments below or beside you helping provide excess heat or insulation.

On the negative side, apartments tend to be almost invariably have electric heating which is more expensive. If you want to improve your BER rating, the lack of structural control you have compared to a house can make it harder to make changes there (although this isn't to say you can't do anything, it just has to be planned carefully).

brisan

guyfawkes5 wrote: »

What do you mean by 'gross earnings'?

Usually management fees cover building insurance, security, maintenance, cleaning, and sinking fund contributions. How well or badly these things scale usually depend on what exact building or complex is being talked about.

To pay a management company 2000 euro out of your bank account you would have to earn 4000 gross before tax to put that money in your bank account.
Assuming you are on 40% income tax rate and pay the temporary USC and PRSI

guyfawkes5

Oh.

I guess that's a way of seeing it, although where does that stop - do you also mentally double the price of chocolate bars in a shop, etc?

As for the management fees themselves, they are paying for things that you benefit from and need. Should you examine where the money's going? Sure. But is it 'crazy' to pay that? I don't think so, except in cases of mismanagement or fraud, which isn't very common.

Shelga

brisan wrote: »

To pay a management company 2000 euro out of your bank account you would have to earn 4000 gross before tax to put that money in your bank account.
Assuming you are on 40% income tax rate and pay the temporary USC and PRSI

Do you view every purchase that way? "My €600 TV costs €1100 gross"