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Should I Buy A Property For Kids Going To 3rd Level?

13

Comments

  • Registered Users Posts: 1,297 ✭✭✭Count Dracula


    Best idea I saw so far, the issue is that you are into ownership issues and when to sell etc.

    But it could work given the right circumstances.

    Just don't try it on the northside, bound to fail over there?



  • Registered Users Posts: 1,502 ✭✭✭Manion


    All the above trolling aside, it does occur to me that one of the reasons people look down on certain areas as not "safe" is because of the younger demographics, aka students etc. What makes an area a good place to live as a student probably is exactly what puts off people looking for a family home. A solicitor can advise on the best way to structure ownership.

    Post edited by Manion on


  • Registered Users Posts: 6 Ismaithliommilseáin


    A big thank to people for responding to my post and for thinking of so many different angles which I should consider. I really didn't realise that so many people on boards.ie would be so generous with their time to consider the question posed and to type up their ideas and suggestions. I enjoyed reading all the different replies and some tangents (!) and found lots of nuggets of wisdom. I am now encouraged to buy in order to have a guarantee of accommodation for my kids in the coming years. I am now particularly interested in Dundrum (and surrounding areas) and Drumcondra to leave options open for TCD, UCD and DCU. Buying a 4-bed or a 3-bed with an attic conversion would help accommodate more people so they could live with friends as well as their siblings. I will take the advice of posters and keep an eye out for a possible light dip in prices over the next few weeks and months. I will take the advice of the poster who agreed with trying to purchase but while also letting them share a room and not making it too comfortable for them! I will expect my kids to work while in college but with the current rent situation, it would be very difficult for them to earn the kind of money needed to keep them in rent, food, transport etc. while also studying. Many thanks again for your very considered response.



  • Registered Users Posts: 1,502 ✭✭✭Manion


    Just on Dundrum, its don't make any sense for the colleges you've listed. It's a lovely area and good for students and nights out in town etc, but you're talking an hours commute with multiple modes of transport each way for any of the Northcity campuses. It opens up UCD and Trinity but cuts out the rest and you'll be paying a premium. Off topic but I have to say you're very definite on a couple things such as all your kids will go to university (top ones at that) and they will all work. You never know what life will throw at you, Engineering/Science in trinity has less than 50% completion rate, in my first year (a while ago) 20% of those admitted dropped out by the second semester. Not to get too personal but I remember having the conversation about working during college with my parents and I simple told them the courses are graded on a bell curve and I'm competing against people from very affluent families and not a one of them will be doing a part time job and I'd only the four years to set myself up for success. My brother at the time kicked up a sink that I should be paying my own way, but he got to try out his approach with his own kids, both of which working part time jobs since 16 never completed college. Anyway, that's obviously not a hard and fast rule, plenty people do it just fine and I have cousin who had to work to pay for digs etc and I worked every summer it's just it's odd seeing someone so invested in giving their kids a leg up in terms of accommodation and you're obviously not short a few euro with a 60% deposit burden them if it's not needed.

    As an insight, Engineering/Science in Trinity, lectures start at 9am finish at 5pm with an hours lunch and most students will then be in the library from 6-10pm and back in again on the Saturday. Some people will obviously state "that wasn't my experience" but I can tell you from about the 2nd or 3rd week in the semester the libraries where packed every evening, every library and study space. Anyway.

    Post edited by Manion on


  • Registered Users Posts: 1,090 ✭✭✭herbalplants




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  • Registered Users Posts: 454 ✭✭Avon8


    South side / North side is such a tired generalisation at this stage. If you want to have loose stereotypes on affluent areas, then East/West is less inaccurate than North/South these days.

    Clontarf, Howth, Portmarnock and Malahide are on the north side. I won't disparage any specific areas on the south side but they should be clear enough to anyone with a quick glance at google maps



  • Registered Users Posts: 9,491 ✭✭✭John_Rambo


    Plenty of casual/part time work opportunities in the areas I mentioned with the amount of retail and food & beverage businesses.



  • Registered Users Posts: 1,273 ✭✭✭The Spider


    I do actually agree with this, and have mentioned it many times, in fact when I lived in Clontarf I thought it was the best place I ever lived. (It was also the only place in Dublin I had my car broken into, oh and there was that time that the two guys were shot dead in their car out outside the yacht pub a two minute walk from where I lived, but anyway)

    But and there is a but, the affluent east side on the Northside is a lot closer to dodgy areas than the affluent east side on the southside, and in fact you have to travel through donectough areas to get to the affluent areas north side whereas not on the south side



  • Registered Users Posts: 149 ✭✭Hontou


    I bought an apartment for my 4 offspring to go to college. I wanted an apartment, as maintenance on a property far from home is a headache. I chose Galway in an area that is walk-able to both 3rd level institutions. Veterinary, dentistry, and a few other courses are not available in Galway but I made it clear that if any of my kids wanted to do a course not available in Galway then I would find a way to pay for it. 2 are in Galway now and 1 is elsewhere but they are working part time to a level where they can support themselves - I just pay the college fees. The 4th is doing the Leaving this year. Be mindful that you cannot use the rent a room scheme as the property is not a family home but viewed as an investment property from revenues perspective. I could put it in my children's names to enable them to claim rent a room relief but have decided not to. (There are ways around this but I have looked into it and decided it is too complicated). I also don't want to rent to other students as many simply do not know how to manage a property. We use it as a holiday home during the Summer and at weekends for ourselves. Best thing I ever did. I planned and saved for it from when my children were young and took out a 50% mortgage on it which will be paid off in 8 years.



  • Registered Users Posts: 10,175 ✭✭✭✭Marcusm


    There’s also one within the Devlin in Ranelagh. Either way, it’s true to say that there is plenty of street rubbish in Rathmines/Ranelagh when compared to the leafier spots on the north side such as Iona Road or Griffith Avenue. I don’t know if more DCC people live in those areas but I can safely say that most roads in D6 have not been swept by the council in years. Not even to remove the detritus from their own tresss which they encourage the residents to sweep up.



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  • Registered Users Posts: 1,297 ✭✭✭Count Dracula


    You sound like you're from Pearse St, or Ringsend ?

    Would you live in Drumcondra or Dundruma ?

    Honestly ?



  • Registered Users Posts: 6,445 ✭✭✭Tombo2001


    If you can get a 4 bedroom house for 500k in Drumcondra then yes its a great place to live. I dont think you will though, or even a three bed.

    I would look in East Cabra, close to Christ the King church, lovely area and some three bedrooms.



  • Registered Users Posts: 1,502 ✭✭✭Manion


    I'm convinced people are mixing up Drumcondra and Ballybough. Drumcondra north of croke Park is a very affluent area.



  • Registered Users Posts: 491 ✭✭SwimClub


    There are some pretty dodgy areas in and around Dundrum. As for the South East, walk around Killiney, Ballybrack, Sallynoggin and Dunlaoire, you'll see a wide mix of 'affluency & dodginess'. Ditto Sandycove, Irish Town, Ringsend, Ranelagh, Rathmines. I think the North city centre traditionally drove the stereotypes, some of the worst criminal gangs used to be in North side flat complexes, and you had Ballymun towers, but the criminal gangs are also based West now since the 80's.



  • Registered Users Posts: 1,297 ✭✭✭Count Dracula


    Do you think criminals should buy gaffs in Dundrum or in Drumcondra?



  • Registered Users Posts: 491 ✭✭SwimClub


    I think the General went for Ranelagh, maybe he was shot for defecting southside?



  • Registered Users Posts: 1,502 ✭✭✭Manion


    I'd forgotten I'd done this analysis based on the 2015 CSO Pulse crime stats. These are the latest granular stats publish by the CSO due to data quality issues.

    I had a map view, so ignore the description. The count is the one to look at, as the total number of crimes.

    Dundrum Garda station deals as much Criminality as Finglas, let that sink in. That's the objective truth, everything else is subjective.



  • Registered Users Posts: 491 ✭✭SwimClub


    You have to be careful with any stats, a big chunk of that is theft and it has one of the biggest shopping centres in Europe connected to a Luas line.



  • Registered Users Posts: 614 ✭✭✭J_1980


    For students (who naturally have no kids) would also consider some grand canal apartments. Due to wfh looks like some LL are selling and not too many buyers around.

    Place like this is low maintenance, B energy rating and safe central area.

    Plus the rental value in that area is far higher than Dundrum or Drumcondra.

    https://www.myhome.ie/residential/brochure/2-hanover-riverside-forbes-street-grand-canal-dock-dublin-2/4672509



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  • Registered Users Posts: 1,297 ✭✭✭Count Dracula


    Yeah well for me that just proves my point.

    It is obvious from these bar charts that northside criminals are much shrewder than southside criminals and as such there is a lateral indication of criminality within two contrasting stations. Comparatively speaking it would appear that Dundrum and Finglas are regions of parallel ilegal activity, which i conclude means that the criminals getting locked up in Dundrum are not as sophisticated as their counterparts across the city.

    When did they reopen Stepaside Garda Station - that is hardly doooooping your stats a little Madame Manion?

    I am from the southside I have never been arrested, is that why everyone wants to live here?



  • Registered Users Posts: 548 ✭✭✭Q&A


    I love how this thread has gone all love/hate. Is It's an interesting chart. Hours of fun chucking stones across the Liffey.

    Looking at the objective truth I think I'd rather be a victim of theft as opposed to "weapons". Alas there is no detailed breakdown by tank attack.

    Given the thread is talking about buying property I'd be a little worried about the "property damage" numbers in Finglas Vs Dundrum.

    If anyone is looking for me I'm moving to the airport... And so should the OP assuming they don't have to drive anywhere near Pearce street to get there. Those antisocial trinity students will have you for lunch.



  • Registered Users Posts: 6,805 ✭✭✭Alkers


    Competing against the affluent families, as you put it, is horse ****. I encountered far more wasters in college, who were fully funded by the bank of mum and dad, than those who were contributing themselves and therefore had skin in the game and took things personally.

    You learn a lot of life's skills in your college years, outside off what's thought in the lectures



  • Registered Users Posts: 1,502 ✭✭✭Manion


    Everyone has different lived experiences and it really depends on the course and university. Though you have a point that giving some one an opportunity isn't the same as them living up to that opportunity, and I knew plenty of people who repeated year after year because college was such great fun and their parents could afford it.



  • Registered Users Posts: 1,148 ✭✭✭OEP


    You really turned this thread to sh*t!



  • Registered Users Posts: 1,273 ✭✭✭The Spider


    Ah c’mon you can’t compare Griffith Avenue to Rathmines or Ranelagh, for one thing it’s just a street, nothing on it, the other two are urban villages, with pubs, restaurants and all the rest so bound to be more rubbish, when there’s actual people out and about



  • Registered Users Posts: 360 ✭✭Xidu


    Makes good senses especially 4 kids.

    I have 2 kids and I am Cork based. I already bought a house in Wilton in case kids both go to UCC.



  • Registered Users Posts: 1,090 ✭✭✭herbalplants


    Seriously? Like yes you can't compare decent houses with period rotten to the core raising damp houses like Ranelagh. Fur and no knickers spring in my mind.

    Living the life



  • Registered Users Posts: 1,273 ✭✭✭The Spider


    The difference is one is a street in fact the longest avenue in the northern hemisphere with a pretty busy road, not ideal for kids, with nothing around it, closest village is drumcondra, and that’s a taxi ride or a drive.

    ranelagh and Rathmines are urban villages you walk out your door and you’re in the middle of the hustle and bustle, location, location, location.

    I don’t have a dog in this race I’m not from Dublin I don’t even live there anymore but just pointing out the realities, that you can’t compare them.

    Oh and on the decent houses thing, plenty of decent houses in tallaght, but they’re still houses in tallaght



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  • Registered Users Posts: 10,175 ✭✭✭✭Marcusm


    I am speaking about the comparable residential streets in each place not the commercial streets. So for D6, such places as Ormond Road, Palmerston Road, Moyne Road etc.



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