Buying a house: Sandyford Village

darkwater88

Hi, I am planning to buy a 4bed house(~150sq m) A2 rated in Sandyford village. It's around 700k and I was wondering if it's worth paying that much to live in Sandyford?

hayse

Hang tough till next year €500k will buy it.

Summer2020

https://www.boards.ie/discussion/comment/119128156#Comment_119128156

Op don't listen to posts like this. People have been predicting price drops for the past 7 years. They'll be right one day of course. Its much cheaper to pay a mortgage these days than rent. Sandyford Village is a nice quiet village. Sandyford house does great food and is a great addition. Op I assume it's one of the 4 X new houses on the main road ?

ryanomahon

Don't you think 700+ is overpriced for a semi-d house in that area? I know that you will find people buying it at that price range mainly because people working in IT in Sandyford will perhaps fall to that price bracket.

darkwater88

https://www.boards.ie/discussion/comment/119196500#Comment_119196500

New/Old Houses sold last year are going around the same price. I thought Sandyford was a good area, isn't that the case?

awec

It's a fine area, you aren't going to have hassle or anything like that.

There's not much in it, and the village itself is a bit of a trek to the Luas.

macvin

The biggest cost of a house is the repayment cost.

Possibly the op has another house which will be sold and the mortgage is not too bad on the potential new house.

For any large mortgage, interest rates will be phenomenally important.

Those who bought in 2005-2007 and had a tracker mortgage did quite ok over the 15+ years as their interest rates were about 1.5-2% below what people who bought in 2010, 2011 etc paid. It is estimated that a 1% tracker was worth over 25% of the mortgage value if compared to the 3% average mortgage rate.

So op, it's a great area. Particularly good for schools and if you work in the sandyford/still organ/leopardstown area it will mean a short commute which in itself is worth a fair amount.

Increased mortgage rates will most likely see a softening in prices, but a continued demand will mean no dramatic drop. So if it's something that you want and like and suits you long term and you can afford it, then go for it.

darkwater88

thank you guys. We dont have another house but do have some savings so going to use all of it. Just hope if a recession kicks in, it wont be like the last one but plan to stay long term atleast greater than 5 years so it may not matter.

Its around a 16min walk to the luas and there is a bus stop nearby