'Starter homes' you will be happy to grow old in
Hollywoodrath's third phase will be released to market this weekend
The phrase "starter home" lost its marketing appeal after the demise of the Celtic Tiger, when first-time buyers were stuck in negative equity long after they had outgrown their first property.
These days, first-time buyers are older and wiser and want a lifelong home that can accommodate their different stages in life, rather than a first step on the property ladder with an eye on trading up in a few years. At least that's what developer Regency is counting on with the Hollywoodrath development where a third phase is being released to market this weekend.Unlike the Identikit architecture of boom-era developments, these homes have a versatile design and are larger and wider than their predecessors. The four-beds have under-stairs storage.
The three-beds at Hollywoodrath have readily convertible attic spaces that can be transformed into a fourth bedroom, a teenager's den or a study. Once the children have eventually flown the nest, it could be used as a guest bedroom. Meanwhile, the living room in the four-bed is connected to the kitchen/dining space by double glass doors, creating one seamless area so parents with young children can keep one eye on them from the kitchen.
Some 75 homes have been sold at the scheme since it was first launched a year ago, with 55 families now living in the development. The latest phase, which follows a release in September, will consist of 31 properties, with completions schedule to begin in March.
Three house types will be available in the newest tranche. The cheapest is a three-bed semi-detached dwelling with 1,291 sq ft of space and price tags from €299,500, while a four-bed with 1,500 sq ft of accommodation is priced from €357,500. The largest type, a four-bed detached home measuring 1,754 sq ft, costs from €395,000.
Prices for the semi-detached homes may have increased since the second phase - starting prices for the four-beds, for instance, have risen from €345,000 in September - but they will still appeal to first-time buyers armed with greater bargaining power from the Government's help-to-buy scheme and the central bank's relaxation of caps on mortgage lending.
Designed by McCrossan O'Rourke Manning, the Hollywoodrath homes have a building energy rating of A3, making them efficient to heat and run. There are PV solar panels on the roof to generate additional electricity.
Hollywoodrath - which sits on a 67-acre site located halfway between Dublin Airport and the city centre and about 4km north of Blanchardstown - surrounds five acres of parkland. There is also a playground on site. The M2 and M3 are within a few minutes' drive, providing access to the M50. Dublin Airport is a 15-minute drive away.
The show homes are on view tomorrow and Sunday from 12pm to 2pm.
Hollywoodrath, Hollystown, Dublin 15
Asking price: From €299,500-€395,000
Agent: McPeake Auctioneers (01) 8272300 or Knight Frank (01) 6342466