A depressing vision, but one which increasing numbers of homebuyers have to consider, as few of us can ever realise the dream of a house by the sea or a quaint redbrick in the heart of the city.

But how good an investment is a home in a scheme where it's just one of hundreds of identical units, and when selling-up, how do you compete with the other dozen houses for sale on your street?

"Housing estates have improved dramatically in recent years, " says Gerry Leahy of Leixlip-based Leahy Property Consultants.

"The days of the huge estates with no separate facilities are long-gone. Nowadays, planning is quite strict and you find that even if one developer owns a huge tract of land which they are developing, they have to do it in phases, and won't generally get planning permission for more than 200 homes in any one scheme.

"And in each scheme there will be separate entrances and exits, green areas and facilities, so each phase is like a separate neighbourhood or community, rather than part of one massive estate, " explains Leahy, adding that new regulations require most housing developments to have shops, a creche, and bus stops.

He cites Finnstown in Lucan, Co Dublin, as an example of how popular new housing schemes can be.

Here, the 600 homes are divided into three different neighbourhoods, and when they go up for sale, they are snapped up, achieving prices in the high 300,000s.

Carla Murnane of Flynn & Associates in Swords agrees that new housing developments have improved hugely over the years in terms of facilities and road networks.

She believes that demand is still strong for modern homes in estates, often because these are the areas that people want to live in, either for work reasons or because they come from the area.

"Boroimhe is a big estate in Swords which was built around six years ago, and homes here sell really well, with three-beds getting prices in the late 400,000s, and four-beds getting over 500,000. We find there is a lot of inter-movement in this development. People like the area, they are near schools and all the amenities of Swords town, so they just trade up in the same development."

And while you might exect to get similar sale prices for two or three houses selling on the same road in a new housing scheme, it's not always the case, says Murnane. Two homes on one of the older estates in Swords, identical in size and layout recently sold, with one house achieving an extra 30,000. One was a family home, well-maintained and nicely decorated, while the neighbouring house was rented out and ill-cared for.

Currently, three-bed houses around Swords sell for between 390,000 and 430,000 depending on location and presentation.

Deirdre O'Gara of DNG in Lucan claims that several identical houses for sale at the same time in an estate can be quite positive. "In a big estate, there will usually be a few houses for sale and generally speaking there will be a good few under-bidders waiting around for the next one to come up."

If buying a home in a modern development, try and think to the future when you may want to sell up.

"Common mistakes people make when buying from plans are opting for a corner house or one overlooking a green. A corner house will often cost you an extra 10,000, which is great if you get a huge garden with it, but a few years down the road and your corner wall may have become the meeting point for all the local teenagers, " says Leahy.

"Similarly, the idea of overlooking a green is lovely, but if that's where the kids play football, then you may end up getting a lower sale price than other houses on the estate."

Leahy also cautions against buying a home too near local shops, which tend to become another hang-out for teenagers. He also suggests buying a home in a cul-de-sac as opposed to a through road, as they are easier to sell on.

And if you're buying a home in a development with a view to renting out a room or taking a student, make sure you're close to good public transport.

One young woman who recently purchased a home in an estate in the Malahide area found it impossible to rent out a room in her house because the development isn't close to bus stops and is 25 minutes' walk from the village.

And all of the agents agree that while presentation is very important in getting the best price for your home, spending too much on refurbishment is a big mistake, as you will rarely recover the cost of a new kitchen or conservatory.

TIPS FOR BUYING AND SELLING IN A BIG SCHEME
>> If buying from plans, check out proposed developments on the site, eg what's going up beside, behind and in front of your home
>> Opt for a cul-de-sac home if possible, as they sell easily and are less noisy
>> Look for south or west-facing gardens when buying
>> Don't buy a home too near the local shops or village centre, particularly if they have late opening hours
>> When buying in an estate, particularly the older ones, check out how many entrances and exits there are, as you could end up queuing for half-an-hour in your car just to get onto the main road at peak traffic times
>> Make sure your home is near either good public transport or road networks, as it's easier to resell or rent
>> When selling your home, make sure your garden, kitchen and bathrooms are spotlessly clean and up-to-date in decor as these are the key areas buyers are drawn to
>> Avoid costly renovations and opt for simple cleaning and decluttering when selling