The address:54 Trimbleston, Goatstown, Dublin 14.
The property:two-bedroom penthouse in showhouse condition with 81sq m (872sq ft) of space, a large balcony and secure car-parking for €495,000. The annual service charge is €1,700.
The agent:Owen Reilly.
The landscape:Trimbleston is a recent scheme by Sorohan Builders just off the Goatstown Road in a mature and quiet residential area close to Dundrum Town Centre, Clonskeagh and UCD. It was first launched in 2005 and attracted interest from, amongst others, down-sizers in the area.
How much for an owner-occupier?A first-time buyer may be able to secure up to a 92 per cent mortgage, or €455,400, with AIB. This would cost €1,666 a month over 35 years on a variable rate of 2.65 per cent; €1,603 a month on a one-year fixed rate of 2.4 per cent; €1,703 a month on a two-year fixed rate of 2.8 per cent; and €1,798 a month on a three-year fixed rate 3.19 per cent. These figures are based on AIB's current offering. For a couple to qualify for a mortgage of this size they would need to have a combined income of €74,000 if they were looking at a 35-year term.
How much for an investor?Stamp duty for investors would be €25,900. An investor could raise 75 per cent of the price, or €371,250, with AIB and this would work out as €1,856 a month over 25 years.
On an interest-only basis the monthly repayments work out at €1,079, but the interest-only option would only be 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.
Potential?The penthouse would rent for around €1,800 a month, according to the agent.
Verdict:suits an owner-occupier.
Calculations by Simply Mortgages
