24 with good salary and deposit, should I buy an apartment or house?

Well done! What’s the business out of curiosity.

With that type of income I would buy out the country side (assuming you can run the online business from the country side). That said you are young so a nice two bed flat in a trendy part of Dublin would also hit the spot.

if you are earning at that level you can afford the best advice money can buy.

Buy a house in Fingal.

your earning profile is very rare if not unique ,I would guess your astounding earnings are internet based and maybe vunerable to changes in the medium term,if I am correct I would buy a lovely 4 bedroom in Raheny ,Sutton.Clontarf or drumcondra or in an equivalent South side area and your major purchase for life will be sorted.You wont go wrong with house in these type of areas where as an apartment is always vunerable to fire hazard issue etc.In all honesty it will be hard to find objective advice as most auctioneers will direct you to whats in their best interests.

Maybe try renting an apartment for a year to see if you like the lifestyle. Even though you can afford to buy, there is no rule to say you have to buy immediately.

.anon. wrote: »

If I was 24 and earning that type of money, I'd keep saving for another few years until I could afford to buy without any mortgage. A big sacrifice for the next few years, but it would mean that you're set up for life, regardless of what happens in the future with your online business.

No point saving if he can buy now,its always easier to hold onto a house if your circumstances change than acquire one.

you can afford a house buy a house,
a house has more privacy,
apartment= people living above you ,to the right ,left, behind you.
no service charges on a house.
buy semi d or detached house.
Many apartments have issues with low levels of sound proofing.
eg you hear noise from apartments all around you.
buy house with parking space and a small garden.
A house in an area like cabra, phibsboro is a very good investment.
get a survey done before you buy .
there seems to be no standard re basic levels of sound proofing in apartments .
every building is different.
At least in a house you may have a neighbour on the right ,left, thats
it.
buy a 2 or a 3 bed unit .
Always nice to have a spare room, as a home office.
no point in buying a 1 bed apartment for someone on a high salary

Don't buy anything, if no pressure to move then stay in parents house.
Buy in a year or 2 and keep saving till then, if that money you earn is constant you'll have an amazing place when things settle down

Buy a house in Dublin, rent out the other rooms.

Don't tell the bank you're going to rent, let them judge your ability to repay on your income.

Have fun living in Dublin while you're young, have other people pay your mortgage.

The value of the property will rise in line with the value of property all over.

Dublin is vastly under supplied and will be for the next decade. Ireland has one of the youngest populations in Europe and has for a few decades as well as net immigration. Demand will remain high. This is good for selling in the future but also means your 100k is less valuable in the future if it remains cash.

If you know you want to live in the countryside then fine do that but if you hope to sell it's a bit more of a risk, depends where you are. Some spots don't sell very well even if you love that particular area.

Mad_maxx wrote: »

nothing wrong with buying an apartment , one beds offer good value in Dublin at the moment , might be about the one area where value exists

just because irish people will always go for a house is not something to worry about , europeans ( of whom there are many in Dublin ) will more often than not , prefer an apartment , you will find a buyer if you choose to sell down the line

a one bed apartment in a decent Dublin location will both hold its value and sell quicker than a house in an undesirable location in the countryside

How much wouid you value a 1 bed 60 sqm apartment 10 minutes from a Dart line in North Dublin

In your shoes i would buy a nice apartment now, in a mature development, where you neighbours are also settled. Get somewhere that is comfortable for you now! Remember location is key - a nice area in high demand.

i would not be too worried about capital gain on apartment, you can purchase apt easily, and with a short enough mortgage and overpay on that if the fluid income keeps at the same level in for you. by the time you are thinking about changing life circumstances and getting a 3 bed semi d etc, you will own a very large chunk of the apt (with discipline you could probably own it outright) and will have the ideal position of either selling it to fund a large chunk of your house - or keeping it for other purposes, and borrowing with the apt as security.

if you make a nice profit on the apartment great. your not likely to lose out 5-10 years down the line - its unlikely you wont break even, at worst. in the meantime you will live in a pleasant private environment, be handing your parents their privacy back.

You gain an independance you wouldn't otherwise have if you stay home & a lifestyle and access to amenities you might not get if you go down the house route.

Paddyg96 wrote: »

Revealing would probably identify me, so DM if you'd like to chat. Thanks for the advice, I'm living in the country now. Where do you think is nice? I'm just a little worried it would be quite isolating.

Took me about 11 seconds to find out by looking at your boards account btw!

Work to live, dont live to work.

Buy a property somewhere you will enjoy it. You can always sell up and buy a quiet family home later in life.

Definitely a house. The quality of your apartment living is determined by the financial well being of your neighbours and whether they bother to pay their fees or not.

Definitely a house if you can afford it.

Pointless saving when house prices are rising , the maintainence on a 2 bed house is less than 2k,
Most apartments have to 2k service charges and you may have
To pay extra for a parking space if you buy near the city centre area
You save 10k prices rise by 14k on a 300k house on average at the moment
Buy near bus, luas services is always good idea even if u have
a car

Right now apartments offer better vfm than most houses tbh.

loads of grand canal places are at same prices they were in 2017, talking about the high quality ones (hanover, forbes quay, gasworks). Make sure you buy a B rated apartment, where the whole block more or less has B/c1 ratings at least. Individually refurbished B rated apartments where most of the block has no insulation (C3-E rates) can still be very cold (get proof of works done, windows and wall insulation if you still want it). Imo most mid level apartments habe too good ratings. Speaking out of experience.

houses only buy newbuilds (A rated) or total ruins that need a retrofit anyway. Ireland in the past was mostly either a very poor country or full of cowboy builders (till 2010), and build quality is accordingly. So many horror stories of C rated houses that hardly get above 19 degrees in winter and mould behind wardrobes etc. This wouldn’t be an issue (ie easy to fix) if prices weren’t that bid up.

Property in Ireland is not expensive vs comparable countries (Germany, netherlands, denmark, UK).

irish people are just moaners who behave like spoilt children and want everything for free :)

Poland and Hungary have much lower salaries than Ireland. Greece too.

spain has abysmal building standards and homes don't need/ have any insulation. Plus it’s very dry so it doesn’t really matter. Median income in Spain is almost half of Ireland’s.

none of these are remotely comparable.

why not compare Irish house prices to Albania and Moldova while we’re at it.

the so called “housing crisis” is largely an entitlement crisis…