Aikens Village, Sandyford...worth the price?

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jon1981

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hi,

Anyone living in Aikens Village, Sandyford? i see there are alot of 2 beds going for around the 340k mark. whats the area like? is the transport good there? im not overly familiar with the area but how far of a walk would it be to the luas line? What appeals to be the proximity to the dublin mountains and the nice views.
 
what would a 2-bed rent for in that location?

if you are getting into the territory of 10 *annual rent = market price, then they are probably approaching value.

I doubt they are renting for 34k p.a. though
 
i never thought about renting it to be honest. this would be to live. i can see rental is between 1300 and 1800 for two beds depending on part of sandyford accordign to daft. i dont understand the calculation you used there regarding the 34k per annum
 
A 114 bus connects Aikens to Sandyford Industrial Estate. Alternatively there is the 46b that goes through Belarmine.
 
jon1981 said:
i never thought about renting it to be honest. this would be to live. i can see rental is between 1300 and 1800 for two beds depending on part of sandyford accordign to daft. i dont understand the calculation you used there regarding the 34k per annum
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10 (years) * 34k (rental p.a.) = 340k (current asking)

this is clearly not the case and in fact, if I take the median rent (1550), it becomes clear that the average asking price is in fact 18 times the rental.

this suggests that these properties offer poor value at current asking prices

keep renting, keep saving. The market is moving in your favour every day. Why the hell would you lumber yourself with an overpriced asset now? wait two years at least
 
Kemo_Sabe said:
10 (years) * 34k (rental p.a.) = 340k (current asking)

this is clearly not the case and in fact, if I take the median rent (1550), it becomes clear that the average asking price is in fact 18 times the rental.

this suggests that these properties offer poor value at current asking prices

keep renting, keep saving. The market is moving in your favour every day. Why the hell would you lumber yourself with an overpriced asset now? wait two years at least
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desperation to have my own space i guess. sick of living at home and i dont fancy house sharing, its a poxy situation to be in
 
jon1981 said:
desperation to have my own space i guess. sick of living at home and i dont fancy house sharing, its a poxy situation to be in
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If you are sick of living at home and don't fancy house sharing, why not rent in the same estate, for less than it would cost you to buy.

Using the example of 350k... and basing it on a ltv of 80% so you would need 70k up front. The monthly repayments over 30 years with an approx rate of 5.75% (NIBs 2 year fixed) you would still be paying back around 1700 a month. You would have to factor in FTBs allowance of course... and interest rate fluctuations.
 
magoko101 said:
If you are sick of living at home and don't fancy house sharing, why not rent in the same estate, for less than it would cost you to buy.

Using the example of 350k... and basing it on a ltv of 80% so you would need 70k up front. The monthly repayments over 30 years with an approx rate of 5.75% (NIBs 2 year fixed) you would still be paying back around 1700 a month. You would have to factor in FTBs allowance of course... and interest rate fluctuations.
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yeah i see the argument for renting all right, considering that for the first 7 years your more or less paying the interest.
 
The cost of living away from home is a lot higher than you would imagine.
It always helps to rent, if only to get a handle on cooking etc and budgeting before taking the property purchasing plunge.

And I don't get your not wanting to share with people... surely there are a pair of Swedish students out there waiting for a room mate for pillow fights! :D
 
magoko101 said:
The cost of living away from home is a lot higher than you would imagine.
It always helps to rent, if only to get a handle on cooking etc and budgeting before taking the property purchasing plunge.

And I don't get your not wanting to share with people... surely there are a pair of Swedish students out there waiting for a room mate for pillow fights! :D
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well maybe im open to reason on that one lol

i suppose the reason i dont want to shares, it would be nice to have some space for guests and freinds. Im just fed up with living with people lol if i plan to live there for 5 years say, do you think theres any point in holding off?
 
jon1981 said:
well maybe im open to reason on that one lol

i suppose the reason i dont want to shares, it would be nice to have some space for guests and freinds. Im just fed up with living with people lol if i plan to live there for 5 years say, do you think theres any point in holding off?
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only you can ascertain the utility value of 'having your own place'. You can of course rent your own place....

I'm afraid any further comment on this perceived utility value would see me breach posting guidelines on direction the housing market so I won't do it. Good luck with your decision.
 
Leaving the whole money aside, as an area to live i rented there for just under a year while it was still being built back in 2004/2005. when i lived there it was a nice peacful safe area, a little mucky from all the builders but still quite nice (havnt been up there recently) and neibhors kept to themselves theres not a huge amount of local amenities unless you drive (which i didnt for the first half or renting) if you do drive theres an xtravision spar (or one of those) which is reasonably big, and will do for all your small things. Tesco in dundrum is about a ten min drive away for your big shop and most thing like chippers pizzas etc deliver there. the luas is a good solid 30 min walk away due to the layyout of the estate. the 114 isnt to reliable going only maybe once an hour and only running monday to saturday and maybe a ten min walk to bus stop. your about a 15-20 min walk away from the anothe bus the 44/44c which goes to enniskerry again if you have a car a lot of this becomes quite easier although cost of running car/parking etc each ot their own. not to sure about schools as it wasnt my priority at the time but i didnt notice anything nearby. theres no local pubs the clsoest one is beside a council estate and the nice ones are about a 5-10 min drive away in stepaside, think thats pretty much for the area if you have any other questions just ask, plus bear in mind this was 3 years ago.
 
Kemo_Sabe said:
what would a 2-bed rent for in that location?

if you are getting into the territory of 10 *annual rent = market price, then they are probably approaching value.

I doubt they are renting for 34k p.a. though
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Not really a post for here but as its here already...
Your 10 x rent = value is over simplified. Where was it said that a home owner should be able to pay for their home in 10yrs-and when was that happening? Up to the late 90's the average mortgage was over 20years-a very reasonable amount of time to purchase an expensive item.

Even in these times you would be hard pressed to build a unit in Aikens wood for the price you say is fair market value (€180-200k) and take a profit from it. Materials are not falling in price-however labour is. That said using your caluclation there will never be anything built for years. Thats hardly likely to happen.

Your calculation really beefs up the notion that rent is dead money (10yrs rent = house paid in full), when its not. It can be a very sensible thing to do in many circumstances. I could rent a nice pad in D4 for much less than the monthly repayments would be on the same property-the money I save could go towards building up a nice egg, and financial peace of mind.

This post is not intended to speculate on property prices!
 
pinkie123 said:
be careful not to let the scaremongerers on this site scare u off buying. do your own research and come to your own conclusions.
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Scaremongerers? Dude, house prices are falling at perhaps 2% a month at this moment in time, so perhaps there needs to be a bit of scaremongering because there is a lot to be scared about.

This nonsense about blaming people who are bearish on property for the ills of the market is contemptible. As if people cheerleading on internet message boards is the issue and not the fundamental absurdities in the market itself.

And whatever the opposite of scaremongering is, you're doing it, and it is far more harmful than I think you realise.

Finally, it seems it is impossible to hold a bearish view on property in this country without being a scaremongerer or a begrudger. This is the level to which sensible debate has fallen in this country on the issue. No attempt to discuss the substance, rather petty name-calling and head-in-sand complacency. Pretty damned sad actually.
 
Scaremongerers? Dude, house prices are falling at perhaps 2%
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From the point of view of a recent FTB I have to say that I am more than happy with my decision to buy this year. OK only a fool would disagree that prices are falling but I wasn't buying as an investment, I was sick of renting and wanted a place of my own, I wanted to put my own stamp on my own place and to do up my own garden, there is a lot to be said for that. I intend owning my own house so I can ensure a roof over my 5 month olds head, I have been in a position before where the landlord has given us notice or put up rent unexpectantly. Yes I probably have negative equity now but I feel in 30 years time things will have improved and got worse again maybe a couple of times, it's cyclical right errrm ..........Dude :cool:
Re Aiken's Village I have Friends that live there and they love it, but they bought when they were first built so I guess they were Canny McSavvy.
 
I my honest opinion: anyone paying more than 200K for a absolutely standard 2 bed apartment is totally nuts. There is no whatsoever reason for a 2 bed apartment costing more in a city like Dublin!
Labour and material costs? No way!
No wonder the economy here is messed up if people believe they get good value for paying <..>loads of money for a shoebox with no public infrastructure!
 
So treehouse if prices are dropping at 2% per month we should all wait 50 months and they will be giving houses away for nothing. It has to find a base level which is coming pretty close.
 
So treehouse if prices are dropping at 2% per month we should all wait 50 months and they will be giving houses away for nothing. It has to find a base level which is coming pretty close.

I cant beleive you just said that !!
 
murray said:
So treehouse if prices are dropping at 2% per month we should all wait 50 months and they will be giving houses away for nothing. It has to find a base level which is coming pretty close.

I cant beleive you just said that !!
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Reminds me of that soccer star back in the 70ies who got offered 1/3 of the overall income of the club he was supposed to sign up with - and demanded to get 1/4 (because 4 is more than 3...)

Property market reasonable with people doing maths like this? I rest my case.
 
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