A stable economic outlook
A coveted A2 BER in a 3,000 sq ft home can save thousands each year
Late last year, Moody’s the international ratings agency returned Ireland to an ‘A2’ grade rating, indicating that it now regards our economic outlook as “stable”.
This is good news, because just five years ago Moody’s afforded Ireland a bond score of BA1 or a “junk” rating which equated our prospects to global investors at the time to those of the Philippines and Guatamala.
Moody’s attributed its recent upgrade to strong economic growth, an almost-balanced budget and declining public debt.
Such ratings are used internationally by investors as a guide to a country’s economic health and stability.
Perhaps the nearest thing we have to gauging a home’s economic outlook going forward is the BER (Building Energy Rating) which like the Moody’s gauge, uses a grading chart of letters and numbers with the very best rating being an ‘A1’.
BER presents a reasonably good guide for prospective home owners on what they’re likely to spend on heating and running that home.
An upgrade in our building regulations/standards implemented since the property crash, together with improving insulation technologies has combined with a greater awareness of environmental impact and the economic benefits of energy saving by home owners, to make BER a big consideration with buyers. In turn, this concern means that BER scores impact on a property’s ultimate sale value.
That’s not surprising when you consider that an A1-rated semi-detached 1,600 sq ft house should theoretically cost €280 a year to heat while the more average D1 version of the same property should likely set you back €2,600.
However, despite all this, very few homes in Ireland actually have that supreme ‘A1’ rating. A past investigation by Independent Property showed that just six out of the country’s half a million homes could boast an A1 in 2014 and at that time most Irish homes fell into the C and D categories with the highest number (55,000) being rated D1.
So an A2 rating is a very big deal indeed, especially for a larger home like that at 7 Glencarraig at Brides Glen Road in Rathmichael, Dublin 18, which has 3,100 sq ft over three floors to heat.
With A1 ratings seemingly all but unattainable, an A2 will still save the future owners a fortune — for example the cost of heating a G-rated version of a property this size would be just under €8,000 a year, according to our last check in with the SEAI (Sustainable Energy Authority of Ireland), the organisation responsible for regulating the BER system.
Number 7 is part of a development which includes 10 detached homes launched by Shale in 2015. Six sold immediately off the plans. The houses were designed by Paul Duignan & Associates and were first sold from €850,000.
It has is 3,100 sq ft of accommodation over three floors with the staircase running up the middle. The A2 rating comes courtesy of a gamut of additions including PV panels, a Dimplex air-to-water heat pump and double-glazing.
Double doors at Number 7 lead through to the kitchen which is hardwood inframe with a bespoke larder unit and white granite countertops. This opens out into a family/dining room with a cast-iron wood burning stove. To the front of the property there is a living room with a box bay window and on the other side there’s a playroom.
On the first floor there are four double bedrooms, one of which comes with an en-suite shower room (all the sanitary ware is by Duravit) and a walk-in wardrobe. There’s also a family bathroom decorated in neutral tones with a laundry room.
The second floor has the home’s master bedroom suite with the largest double bedroom. This has a south facing window and its own en-suite shower room and walk-in wardrobe. A study, also on this floor, could be deployed as a sixth bedroom.
The south facing rear garden is laid in lawn bordered by raised flowerbeds. There is a stone patio accessed via the kitchen for outdoor dining and entertaining friends. Gated side access leads to the front forecourt with off-street parking.
The house is located just off Brides Glen Road which is within reach of the N11 and M50. A big advantage is that the Luas stops right at Brides Glen and there are local bus routes into town.
Schools include St Gerard’s, St Joseph of Cluny, Holy Child and St Benildus which is a few stops away on the Luas line at Kilmacud. For security there’s CCTV, an intercom doorbell and the forecourt is wired for electric gates.
The Luas also gives ease of access to Dundrum and one of the country’s biggest shopping centres, alongside a selection of cinemas and restaurants. It takes you into the city centre via Ranelagh, also noted for dining and pubs and now you can ride almost to the Phoenix Park.
Clockwise from top: Number 7 Glencarraig has 3,100 sq ft of accommodation over three floors; the hallway; the living room with a box bay window; the family bathroom; the kitchen with white granite countertops and doors to the garden, and the family room/dining room with a wood burning stove and double doors to the living room
An A2 rating is a very big deal, especially for a larger home like that at 7 Glencarraig
Brides Glen Road, Rathmichael, D18
Asking price: €975,000
Agent: Sherry FitzGerald (01) 2894386