But surely it’s worked well for many too? A one bed apartment that somebody has been paying a mortgage in for last 6 years could be flipped for a good deposit for upgrade now ?
Two apartments
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Country is awash with money / plenty of couples have income north of 150k and up to 200k. The wage inflation in tech and professional services is massive and they all marry each other!
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when ,kids are grown up, apartments are an attractive option
people just starting out will buy appartmets
What you mean about 3 and 4 kid families? That families would have been bigger so smaller split before?
Was there ever truly a need for Nama if the Irish government had held their nerve and not sold the dip so to speak? They were fire selling some assets for 30 cent in the Euro. Madness in hindsight.
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Sorry, I only addressed the 1st part of your query but you’ll have gathered that when you’re in ‘a chain’ type of arrangement things can get muddled and fairly quickly, thus affecting all connected.
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I’d say the backhanders given out to lads within Nama by foreign investors were serious €€…
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Yeah. There was nothing to inherit. A generation or two of three kid families and even modest homes generates wealth
Dunno. You are very dependent on neighbours above, below and beside you. Soundproofing is shit in most of them.
It’s nice to have own entrance, very dependent on development and management company on common areas not going to shit. Lugging shopping or any sizeable purchase up from underground car park is a pain.
A small apartment development maybe if well maintained but they are few and far between and you’re making a lot of compromises to own and live in one long term.
Good decision. Sit tight and rent away, wait for the wheel to turn.
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Myself and Mrs Hunt went looking to buy just before the crash. While we could get a mortgage for a semi out in the burbs we reckoned there was no value. She was despondent and wanted a house before starting a family. Crash came, we both took redundancy and went travelling with the proceeds. Bought in 2014. I was no chicken and we’re older parents but thems the breaks.
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I’ve a mate who is a high enough earner, getting evicted so looking to buy in Dublin ATM. The viewings are mental - he’ll be at some average 3-bed semi, listed for €390,000 or something like that, and the estate agent will shout up the stairs at all the people viewing, “We’re up to €450,000 now!” Then it will sell for something like €480,000.
Yeah, there’s no value in Dublin at all ATM as far as I can see, although he wouldn’t look in a place like Donabate and I think Donabate might be a good option for the future (ignoring potentially serious traffic problems). The only value would be if you renovate I think.
He’d probably be better off waiting a few years but the thing is you don’t know how long you’d be waiting. You’d need a serious nerve. He’s old enough, mid-30s.
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Donabate is fucking expensive. Seaside town. We looked there.
Renovate……Fine in theory but who’s going to do it ? Tradesmen are more valuable than nuclear physicists at the moment and that will continue. Then there’s the disaster than can appear from behind a skirting board or a burst of dry rot of a calamity with a flat roof extension done by cowboys……
Renovation is a minefield unless you’re handy, patient, single, interested and have money to burn.
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Another thing you need is somewhere else to stay.
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It would break your heart. Lad probably earning since his early 20s, spending money on cars, weekends away, gym memberships, fancy overcoats, coffees, nights out, you name it and now can’t buy a house in his mid 30s.
In my day you started saving for a deposit when you got your first wage packet and you didn’t spend a bob beyond mere survival until you had nailed that first three bed semi.
Different times and different priorities I suppose.
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tell your mate he is traffic
Donabate will be connected with Dublin by bike lane soon enough and has a great train service
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The value in renovating is gone now too unless you’re very handy and do most of the work yourself and even then not much value there as materials are gone crazy prices. A 2 bed fixer upper terrace house in Crumlin is asking for €380k now probably go for €400k and would need rewiring, replastering, probably new windows, new floors etc. So you’d be north of €450k quickly enough and then you’d have a nice 2 bed house in Crumlin. And if that doesn’t tell you what state the market is in I can’t help you.
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