schmittel wrote: » Sounds a lot like you're (wisely) considering potential future tax/legislation changes and implications as part of the decision making criteria...
schmittel wrote: » I'd happily live in a listed building and put on another jumper!
DataDude wrote: » Funnily enough we don’t actually have family in Dalkey! I’ve just built a real love for the place over the last few years so could easily see how you’d have inferred that from my posts! Both our families are actually Wicklow based. Too far south for us to consider joining them, but Greystones would be close and is a real possibility now with WFH, hence us looking there increasingly. SCD still very much in the picture too though. With regards to your comment re. pushing the boat out. It’s something I almost talk myself into every now and then, usually after a bottle of wine. It is indeed tempting, but ultimately don’t wanna be ‘that guy who was reckless and borrowed crazily right in the middle of a pandemic - what an idiot’ akin the accusations that are often thrown (perhaps fairly) at those who got in too deep during the Celtic Tiger.
DataDude wrote: » Over the next few years we’ve got kids (hopefully), and a move to single income household. On top of that who knows: interest rate rises, tax increases, hard left government? I’d be really feeling the draughts passing through that house on Ulverton Road if all of that came to pass. Think we’ll try to remain somewhat conservative, and always time to move to an Ulverton type in the future if the cards keep falling in our favour!
schmittel wrote: » If I was in your position - age and earnings - I'd be very tempted to stretch the budget and go for Ulverton if it is the dream home. Location is fantastic, and by the sounds of things you have friends and family in the area which will be worth a lot over the lifetime of the home. My thinking would be to do it the old fashioned way and fix it up over a few years. It doesn't exactly look like a wreck as is, so perfectly habitable for now. Would you really need to spend a few hundred thousand? Bit of an inconvenience to stretch out the renovations, but you'd forget about it fairly quick when you have the convenience of walking up the road to drop the little ones off with Granny on your way to the pub! (assuming Granny lives in Dalkey, but I may be wrong there!) Your earnings are such that fixing it up bit by bit is not the normal saving up for a new boiler type of drama. You could blast a bit every year. Drop 50k on kitchens and bathrooms one year, redo all the windows the next etc. All of the above really only applies if you have family in Dalkey, (which I may have jumped to conclusions on) - once you have kids etc, the value of having family close by is immense (assuming you get on with them!). There are other reasons I'd be tempted, but that is the main one.
schmittel wrote: » Agreed. We're told there is no inflation because it is not showing up in the CPI yet, but it is sure as hell showing up everywhere else.
Hubertj wrote: » I would love a Georgian or Victorian house. Lived in an apartment on Pembroke road for a few years. High ceilings etc. However, single glazing makes it difficult to heat. I’m open to correction but if it’s a listed building not sure you can double glaze. Then there is bollo* about the type of slate to use on roof. Having said that they have a lot of character, Aga in kitchen would be great....
Pelezico wrote: » The markets are saying different. Commodities have increased and all sorts of bottlenecks are happening. Shipping container rates, oil, lumber, copper, silver among other things have rocketed. There will be inflation and it will cause serious erosion in living standards.
Yurt! wrote: » Interest rates will stay on the floor for the next half-decade or more. The rulebook is out the window with government borrowing as well. The problem will be growth and how to get it. We'll be begging for inflation in the real economy (and not the asset economy).
combat14 wrote: » Gold prices book lowest close since June and steepest monthly drop in four yearshttps://www.google.com/amp/s/www.marketwatch.com/amp/story/gold-prices-head-for-4th-straight-drop-as-dollar-gains-add-to-bullions-woes-11614348809 looks like higher inflation is on the way, higher interest rates and increased cost for govt and tax payer to borrow money and pay our massive ballooning national debt... fun times ahead ...
DataDude wrote: » Thanks for responses. We just went up to have a look around and was very impressed with the house and area was lovely. Road definitely busier than we expected but don't think we'd use the cars a whole lot if we were there, so manageable. We were concerned about the industrial estate for sure and it's bigger in person than it looked on the map. If we were to progress I'd be trying to find out whether it's singularly owned meaning a bigger chance of a Jonny Ronan type buying it out and going for a big apartment block or something (I'd have to join the NIMBY crowd!). Suspect the already busy road would be a major barrier to a new high density development though. I have been in touch with a few people who've done renovations today. Mostly bigger jobs in bigger houses in very expensive areas and the costs were indeed eye watering. €450k seemed a reasonable scaled down estimate of their experience. Question I'd naturally ask is at the end of it, do you have a house worth €1.25m? I suspect not, but at least it'd be how you imagined it.. Rathgar has just never really appealed to me personally, so wouldn't be willing to pay the premium to live there. Those one's in Ard na Greine started off at about €1.4m over a year ago and have been tumbling down for the last year. Must be seriously struggling to sell! The St.Pauls ones are really nice inside but not a fan at all of the exterior. 4 story and no garden also means not much of a family home in my opinion. Ulverton could be the "dream home" but at €1.3m prior to the few hundred thousand it would need to fix it up - a bridge too far sadly!
PropQueries wrote: » I guess now we have a bit of an insight into why DCC believes paying €400k+ for each of their social housing units is a steal. According to the Irish Times: “€400k budget to replace light at top of the Spire branded ‘absolutely startling’ by Dublin councillor.” “Cllr Keith Connolly said he was amazed when he saw the figure, questioning how changing a light at the top of the Spire could cost the same as the price of a house in Dublin”. Link to Irish Times article here: https://independent.ie/news/400k-budget-to-replace-light-at-top-of-the-spire-branded-absolutely-startling-by-dublin-councillor-40136879.html
combat14 wrote: » rents are eye watering too.. alot of young people will be forced to leave here once pandemic is over
schmittel wrote: Does fear of missing out sound familiar?!
schmittel wrote: » Well, the assumption that you had not lived in London, was based on a previous post of yours, and was not that far off the mark: Now you say you have actually lived in London I am happy to say I was wrong in this assumption, and shall move on.
Cyrus wrote: » Glenageary house is nice, it backs onto that little industrial estate on albert road which may or may not bother you. also albert road is pretty busy not sure if that would bother you or not? It is a great location though, proximite to the dart and to glasthule. as to costs of renovating, i think 450k all in would get you the extra 75 sq/m and a decent level of finish overall on the whole property and you would have a fine house then, but youd need all of it, prices of renovations are scarey at the moment. Ask some people getting it done if you can, to get an idea, you will also pay more because of where the house is, its not right but it does happen.
Cyrus wrote: » for the same all in cost here are a few other options:https://www.myhome.ie/residential/brochure/9-ard-na-greine-eaton-brae-off-orwell-road-rathgar-dublin-6/4346079 looks like its single storey so it will feel bigger than the nominal size.https://www.myhome.ie/residential/brochure/52-ulverton-road-dalkey-co-dublin-a96-x243/4440891 this would need work but you would have a fine place at the end of it. new build option in glenageary more for reference, i think these are 4 storey and gardens appear non existent unfortunatelyhttps://www.myhome.ie/residential/brochure/st-paul-s-square-adelaide-road-glenageary-dublin/4407651
Cyrus wrote: » You keep clarifying yourself despite the fact it was completely off the mark, that’s the problem. Say you were wrong and move on maybe ?
Cyrus wrote: » anyway, i agree with you on your second point, i have a decent job here and was offered the chance to move to London, i reckoned that i would need to earn 3 times as much to have a similar house in a similar area and maintain the familys lifestyle. So Ireland will do for me
schmittel wrote: » I have already said it was an assumption, so what's the problem?
schmittel wrote: » Does fear of missing out sound familiar?!
Cyrus wrote: » Again that’s fine but off the mark as it relates to me and what I said.
schmittel wrote: » Fair enough, I suppose that was my more polite way of saying my memory of most deluded people on Dublin's value being the capital in the last property bull market had never lived in London.
Villa05 wrote: » If it is affordable for the majority why are 50% of rents and up to 100% of new builds subsidised by the taxpayer Is it that they are too cheap and the state needs to make up the difference? Dublin, Cork and Galway are too expensive and it appears that this is now leading to significant increases outside the main cities Does this trend sound familiar to you from our previous bubble? Do continued government interventions that drive up price sound familiar Does access to cheap finance sond familiar Do low interest rates in what was a booming economy sound familiar All contributers to the previous bubble and subsequent crash
fliball123 wrote: As for affordability I maintain property in IRELAND is affordable for the majority. Dublin is not and maybe some other areas with large population sizes like Cork maybe less affordable then say Rosscommon or Tipperary. Dublin is a capital city with the best infrastructure and attractions when compared to the rest of the country it has the main airport and currently houses about 1/5 of the total population. ergo its a place the majority would like to live in and as such there is a premium to be paid. Just like London, Paris, New York, Sydney, Rome, Brussels, Copenhagen, Madrid, Berlin the list goes on and on. Why should Dublin be any different and we need to get away from using Dublin metrics extrapolating it for the rest of the country and using it as a measure of Ireland's property prices being too high
Cyrus wrote: » I didn’t compare London to Dublin though. So you were pretty far off the mark. There is also a massive premium to pay to live in London over Dublin .
