With landlords exiting and new landlords turned off by rent caps, buyers for second-hand apartments are facing less competition
Interested in buying an apartment? For many single people, couples, small families and downsizers, an apartment can be a good choice. But how can you buy the right one?
Yvonne McGuinness: ‘I’m much more at ease in the muck of a field with a class of nine-year-olds than I am with a red carpet’Granny nanny: Are grandparents being taken advantage of in minding their grandkids?It’s a significant step in sorting the issues affecting apartments, according to owners’ lobby group the Construction Defects Alliance.
“Roofs will need work, lifts will need to be replaced – a new lift is €75,000, so how have they planned for this? Some have planned very well and have a healthy sinking fund. If you buy an apartment that has done upgrading works, you really get to benefit from that.” Those buying with a mortgage will need a surveyor’s report, just as those who bought in the Celtic Tiger era did. A surveyor’s ability to inspect the roof or services, however, may be limited, says Hollingsworth.
“The older developments tend to be in more established neighbourhoods and they tend to be smaller developments,” says Owen Reilly. Those built 20 years ago will have more generous grounds. More recent developments have a much higher density of units and far less communal space. Some older schemes close to the city can have as few as 60 units while newer ones have up to 300.
With taxpayers facing a bill for boom years defects in apartment and housing schemes, surely we can’t make the same mistakes again? The SCSI, however is raising a red flag. Builders these days are trying to construct better, more cost-efficient homes using modern methods of construction . This enables fabrication to take place off site at the same time that ground works are progressing on site, meaning faster build times.
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