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How to get the best deal when buying a house in Rathfarnham

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02 Mar 2017

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Rathfarnham is the ideal location for a growing family.

 

It's the classic, long-established, south Dublin suburb with good transport, amenities and schools.

"The houses here are spacious with good-sized gardens and the area itself is perfect for families," says Tricia Wogan, EBS branch manager.

"There's Marley and Bushy Parks, which are amazing. You have beautiful walks all around here. There are also good schools and a strong sense of community."

 

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Marley Park extends to 300 acres, with woodlands, ponds, golf, tennis, sports pitches, two playgrounds - and a miniature railway.

Dodder Park is somewhat wilder with the River Dodder flowing through it, which has a lively angling scene.

For all of these reasons, many homes in the area have higher than average price tags. But Rathfarnham is ideal for families who have banked equity in their first or second homes and wish to trade up to a place they want their family to grow up in, says Tricia.

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And in that sense it's not as pricey as some south west Dublin suburbs such as Blackrock, Foxrock and Stillorgan.

There is also a good selection of houses on the market. Myhome.ie featured 119 homes for sale as we went to press (Accessed March 2015).

But this area is in demand from trader uppers who grew up here in the sixties, seventies and eighties. So there will be a lot of competition for those available houses and asking prices have been greatly exceeded in many cases.

Tricia cites one example of a three-bed, priced at €395k that attracted a lot of interest and will probably end up selling for €450k.

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"It's extremely frustrating for buyers. I advise them to be realistic and to be prepared for a bidding war," she says. Tricia advises making an offer early on so that you're in the loop when the negotiations start and you won't miss out on developments.

"If you make an offer with a private treaty sale, you don't have to pay a deposit until it's 'sale agreed' so there's no harm done if you think better of it."

Unfortunately, the same holds true for vendors - and sometimes even going sale agreed doesn't guarantee you will get the home of your dreams. The old days of "gazumping" where buyers may be outbid, even after a deal is apparently done, are back, Tricia warns.

Rathfarnham has many empty nesters, who may be prepared to sell up and release a much-needed stock of family-friendly homes – if only there were a supply of high-quality apartments for them to move into within the area. Alas that is not the case. The last three census results show a decline in Rathfarnham due to a naturally ageing population, happy to remain in the family home.

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What's best for?

First time buyers

Two-bed terraced homes on Nutgrove Avenue had an asking price of just under €300k as we went to press (March 2015). A two-bed apartment next to the Dodder at Riverbank as priced at €225k, while a slightly bigger two-bed at Charleville Square was €350k.

Families

According to Tricia, there have been some new developments in the area, offering quite a lot of space for your money. Five-bed homes measuring a 1,464 square feet at Stocking Wood were priced at €445k. A big plus for new homes is that the asking price is a set amount and you can avoid a bidding war. That's certainly not the case for non-new homes.

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"Boden Park has homes priced from around €400k but brace yourself to pay more by the time the dust settles," says Tricia. "The older estates are all very popular but you'll probably have to pay over €500k."

Commuters

"Anywhere in the area is good for commuting," says Tricia. "It's as little as six kilometres into town – 30 minutes driving and 20 on the bus. There are good bus links everywhere."

Rathfarnham has its own Quality Bus Corridor and is served by many buses including numbers 15, 16, 17, 61 and 75. A feasibility study for a new Luas line from Rathfarnham to the city centre has been carried out but has yet to be acted upon.

Before you go house hunting it's a good idea to get your mortgage arranged – or at least discussed so you know where you stand.

Get the ball rolling with our First Time Buyer and Next Time Buyer guides. You can also use our mortgage calculator to find out how much you may be able to borrow.

If you'd like to talk through your mortgage options book a 30 Minute Mortgage Meeting with Tricia or one of her colleagues in the EBS Rathfarnham branch in Rathfarnham Shopping Centre (Tel: 01 4934851).

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Why not pay us a visit on our Facebook page for more great house-hunting tips, home living advice, or just for some general merriment?

 

Gerry Cuffe Financial Services Limited trading as EBS Rathfarnham is a tied mortgage agent acting solely on behalf of EBS d.a.c. EBS d.a.c. is regulated by the Central Bank of Ireland.

The content of this blog is expressed in broad terms and is limited to general information purposes only. Readers should always seek professional advice to address issues arising in specific contexts and not seek to rely on the information in this blog which does not constitute any form of advice or recommendation by EBS d.a.c.

EBS d.a.c. neither accepts nor assumes any responsibility in relation to the contents of this blog and excludes all warranties, undertakings and representations (either express or implied) to the fullest extent permitted under applicable law.

House Prices taken from MyHome.ie accessed March 2015.

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