The address:35 Brighton Avenue, Foxrock, Dublin 18.
The property:four-bedroom detached house (on view this Saturday from 2pm to 3.30pm) for €850,000. The house has 185sq m (2,000sq ft) of space, a good-sized south-west facing rear garden and plenty of off-street car-parking to the front. It is in good condition and there is also a conservatory to the rear and garage to the side.
The agent: Lisney.
The landscape: in the heart of affluent Foxrock, the house is convenient to the village, the M50 and the new Luas line at Glenamuck. There is a good selection of schools, and leisure and retail facilities nearby.
How much for an owner-occupier?A first-time buyer can secure up to 92 per cent of the price, or €782,000, and this mortgage would cost €4,254 a month over 20 years, €3,628 a month over 25 years and €3,206 a month over 30 years, based on a two-year fixed rate of 2.8 per cent with AIB. For a couple to qualify for a mortgage of this size they would need to have a combined income of €165,000 if they were looking at a 30-year term.
How much for an investor?Stamp duty for investors is €50,750, bring the acquisition cost to €900,750. An investor could raise 80 per cent of the price, or €680,000, and this would work out as €3,937 a month over 20 years and €3,400 a month over 25 years. On an interest-only option the monthly repayment work out at €1,977, but interest-only is only offered for a short period of the loan, in many cases three years. These figures are based on a one-year residential investment rate of 3.49 per cent with AIB.
Potential?The house would rent for around €2,000 a month, according to the agent.
Verdict:suits someone looking for a spacious family house in a top locale.
- Calculations by Simply Mortgages
– Justin Comiskey
