Architect Dermot Bannon calls it on one street

Walk-in condition 7 Wilfrid Terrace

Wilfrid Terrace in Harold’s Cross, Dublin 6W, is a quiet street just off Casimir Road. Number 7 is a three-bed mid-terrace property of 98sq m (1,055sq ft) in walk-in condition asking €420,000.

Number 7 will be naturally warmer than an end-of-terrace house. It also has good quality glazing, which indicates good insulation, a solar panel on the roof and it has been really tastefully done up.

A lot of people don’t want the stress of doing up a house and taking on a six-month to year-long project.

If you don’t want to give up a year of your life doing up a place then this is the house for you.

Fixer-upper 3 Wilfrid Terrace

Number 3 is an end-of-terrace four-bed of 96sq m (1,033sq ft) asking €350,000.

It requires €70,000 to €100,000 to bring it up to the level of finish seen in number 7. The extension, which has no insulation, needs to be demolished. This part of the house will cost from €42,000 to €56,000 to knock and rebuild.

The rest of the property needs rewiring, plumbing, insulation and windows.

The job will take six months to a year, so potential buyers would need to factor in the cost of renting while waiting to move in.

The house also has a side passage, which is a major plus for bike and buggy storage. The garden is unsightly but is similar in size to that of number 7. A simple landscaping job would overhaul it.

Doing the maths

€350,000 (asking price for No 3) plus €70,000 rebuild cost. With the higher rebuild estimate of €100,000, No 3 comes in at €450,000.

The asking price for No 7 is €420,000 in walk-in condition .

The fixer-upper only represents a true bargain if the buyer can get it for less than the asking price