With rent increasing is now the time to buy a 2nd property from the bank

Keep us posted mate.

I don’t fancy the hassle but I definitely won’t be building and wouldn’t mind putting my own stamp on something. Maybe a house that just needs renovation rather than rebuilding.

I’ve looked at this extensively and by the time you buy said property, get planning permission, re wire, insulate and finish the house to a modern standard at today’s building costs it make zero financial sense.

1 Like

redecorate or renovate? Renovations, IMO, are far more of a pain in the hole than a new build. At least a new build you start of a blank page and do it as it should. Renovation means you are going through an existing old building and trying to bring it up to modern standards. Reinsulating, re doing electrical and plumbing, all a night mare, and then you dont know if there are structural issues if you want to extend onto it. If its just a cosmetic change, maybe redo the bathroom or kitchen and paint the place, then yeah, that’d be handy enough. Depends on your long term ambitions. If it is somewhere you want to sell on in later years, and you renovate but dont renovate to meet the new building regs, then it’ll be a waste of time in the long run.

2 Likes

Take heed, this man knows the score.

1 Like

What I’m talking about is a house that has been built, is in full compliance with planning, and needs 1st + 2nd fix, full fit-out, etc. €80/sq.ft. is a conservative estimate (incl. site costs).

for much the same, or a little bit more, you’d build a new house. Depending obviously on finishes and level of detail in heating/electrical. But definitely achievable on one off houses with the right management and cost evaluations you could match it. so kinda depends then on value and choice and personal preference.

Won’t be got in today’s climate is my guess. Plus I’d be very wary of a built house open to the elements for 5 + years.

Plus the standard of build quality over the past 10 years was shit. Houses fucked up in gig time with no interest in quality finish & corners cut everywhere. Be very careful, pal.

2 Likes

:clap: :smile:

Its grand building a new house if you have a site @Gman ,i bought a house last year and the same houses beside me are going for E25000 more than i paid,i was thinking of renting this one which would leave me with an extra E300 a month after i paid the mortage and building a new one but sites are still goin for big money they never came down much really

1 Like

true indeed. I suppose it would depend on a lot of factors, and there is no catch all solution for everyone. Sometimes people are left houses and it makes sense to renovate and do them up and stay with that. Sometimes it’s simpler just to buy a finished house and save all the hassle of dealing with building cunts. And then if you can get a site for half nothing or free, building yourself makes sense. If you were to buy to renovate though, I still think buying a plot and building would make more sense these days.

Well you can build more houses, but not more land

Id love to build a new house and rent this one,id be doing the foundations,concrete,blockwork,joisting and the roof myself,also the slabbing and stud work.That would surely knock a few bob off the price of it for me,but like i say ive no site,the father in law has one but its in his only decent field and i wouldnt take it off him,maybe some auld lad will die and leave me a few bob :grinning:

Gods not making anymore

Being able to that much yourself is serious saving.

You’d surely pick up an acre for €25k

Maybe in leitrim :smile:Not in commuting distance of limerick city

What’s the going rate around you? €50k?

E75 to E100

Wtf? :eek:

What part of limerick are you stationed?

I did about 10 years ago. Bought a house and got it all replumbed and new electrics and stuck an extension on the back. Wife is happy out as she got to design the main living space. New build probably would have been more ideal but we wouldn’t have got a site so close to town. If you’re doing it, don’t do it half arsed and try and live there at the same time.

2 Likes

Same price range as North Wexford. Ridiculous stuff.