Is an "upmarket" apartment a risky buy?

I think that it is pointless trying to time the market in any sort of meaningful way within a short timeframe of a year or so. Best to let them make their decision based on their own opinions and needs, especially if they are already in a comfortable financial position that allows them this luxury. After all isn't that what wealth is for?
 
It would be nice for them if they could have the pick of apartments, it's going to be their home after all. I'd let them follow thier own hearts about it.
Think about it, if you discourage them from buying now off the plans, and the prices go up, they might never forgive you :eek:
 
I'd let them follow thier own hearts about it.
Think about it, if you discourage them from buying now off the plans, and the prices go up, they might never forgive you
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I advise that they use their head not their hearts



Think about it, if you discourage them from buying now off the plans, and the prices go down, they will thank you for it .

 
Trying to time the market is a mug's game. If they have settled on this particular development then it would make more sense to secure a property now rather than take the risk that they lose out (either by not securing a property at all or by prices increasing) based on a gamble on prices falling. If they are happy to take this risk then that's their prerogative.
 
In answer to your question Leper, 2 million is a crazy price but people will pay the money, there are a great deal of areas in Dublin with this disparity and no I do not think 450K is a bad investment once all the other positive factors are in place.



So much of today's purchases are off the plans and you really have to know the builder, the company and previous work to get a feel for the finish and make sure that your building agreement stands up, however onerous it may be against the buyer. With small developments you actually get to meet the builder, visit the site through its construction and agree any alterations that you may like on the internal fittings.



Small apartment developments for example are located along the Clontarf Road, Sutton, one in Swords and Malahide.
 
ClubMan said:
Trying to time the market is a mug's game
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If someone trys to sell me a roll of string for €1,000 and I refuse to buy even if it's the going price that doesn't mean I'm trying to be clever by timing the national string market I'm simply refusing to pay over what I feel it's worth. That's a legitimate personal choice.

Especially if we have an equivalent situation where the price of string is stabilising and Ireland is rolling out so much string that in a few years we'll be up to our oxters in the stuff !
 
sonar said:
If someone trys to sell me a roll of string for €1,000 and I refuse to buy even if it's the going price that doesn't mean I'm trying to be clever by timing the national string market I'm simply refusing to pay over what I feel it's worth. That's a legitimate personal choice.
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Yes - of course. My comment was aimed at people here and elsewhere who advise the couple who have ostensibly decided on this apartment already to hang on in anticipation of the going price for late sales being less than off the plan sales. If they want the apartment and the issues is whether to buy now or wait then I think the answer is obvious - buy now. It the question is a speculative one about what way prices may go in the future then there is no right answer a priori (whatever about a posteriori) and dicussion of same is pointless. If some people simply think that the apartments are not worth the asking price then that's yet another matter. All relevant stuff of course but all we can do is address tghe substantive query posed.
 
Quickquestion says his parents are going ahead anyway with the sale of their house and purchase of their retirement apartment and now it's not a question of 'if' but 'when' - now off the plans or when the first phase is finished in a year's time.

Whilst agreeing with the 'ouch' at these UNREAL property prices in Dublin, your parents want to live there, have decided to move down the road from their old home (cutting out the trauma of re-establishing themselves anew some place they know nobody).

In the circumstances if they 'buy from the plans' now they presumably have a full choice of which apartment..........in which case they are as we speak putting down the deposit for the top-floor penthouse (no passing traffic so the foyer is practically private) with south-facing balcony and view over Phoenix Park! They are comfortably off and this purchase doesn't entail sacrifice or losing out on travel and other interests. Where's the agony?
 
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