Areas that maximise rental income...

[revbelfast]

Hi all!

I've got about 350000 to spend on a one-off investment (I'm a FTB but accomodation comes with job). I'm wondering what/where is the best place to buy where rental will come closest to covering repayments. Is closer to town always going to be best? Is an apartment the smartest option (don't think many houses come in that price range!)? There seem to be apartments, say on North Brunswick St, or further out at Premier Square that are in range but I don't know whether rent return is any use.

Any help and advice would be much appreciated.
Thanks

 

[ClubMan]

Moved from Mortgages and Buying and Selling Homes since this is a Property Investment query.

 

[gianni]

Hi all!

There seem to be apartments, say on North Brunswick St, or further out at Premier Square that are in range but I don't know whether rent return is any use.

I would imagine that when the DIT campus is completed that apts on North Brunswick would be very rentable....

 

[Howitzer]

I would imagine that when the DIT campus is completed that apts on North Brunswick would be very rentable....

But until then? These are S50 so can only be rented out to students. Most have been completed for over 6 months now and seem pretty empty to me as I pass them most days.

Anyway, whether something is rentable or not is neither here nor there if the price you pay grossely exceeds the income that you can derive from it. The apts mentioned are probably some of the cheapest in the Dublin area but is it possible to make a profit from them at the prices currently being asked? Probably not.

 

[DonKing]

Hi all!

I've got about 350000 to spend on a one-off investment (I'm a FTB but accomodation comes with job). I'm wondering what/where is the best place to buy where rental will come closest to covering repayments. Is closer to town always going to be best? Is an apartment the smartest option (don't think many houses come in that price range!)? There seem to be apartments, say on North Brunswick St, or further out at Premier Square that are in range but I don't know whether rent return is any use.

Any help and advice would be much appreciated.
Thanks

Have you considered Ballyfermot? I havn't checked recenty but I think you would get a 3/4 bed house(and fit out/decorating/minor renovating) costs within your budget. I would suggest the more East parts of ballyfermot(lower Ballyfermot). There is high demand in the area with social welfare tenants pushing up the rental prices. You can expetc to get (4 months ago anyway) €1259 to €1300 for a 3 bed.

I think long term Ballyfermot would appreciate more than other areas due to it's proximity to the city centre and the fact that it is a house rather than an apartment. As the City planners acknowlodge themselves we have a problem with the size of apartments built/being built in Dublin. As people with growing families find Apartments too small they will start to look for bigger properities, ideally with a garden....