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Buying a holiday home

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  • 18-10-2017 6:31pm
    #1
    PickleJar
    Registered Users Posts: 25 ✭


    I'm considering buying a small holiday home here in Ireland and am looking for some advice from people who own second 'holiday' homes (i.e. things to consider, whether it was a good/bad decision etc).

    The property is a recent enough conversion in a low-rise block of 4 apartments in a sleepy seaside village that is buzzing in the Summer but dead otherwise. I live around 1.5 hours away I'd move there full-time if I could but there is no work there, my current commute wouldn't be on great roads and the job I have now allows me to work remotely sometimes. Neighbours seem nice and if I did want to rent it out it would be in high demand in the Summer months. I have family connections to the village and it's somewhere I like spending time year round.

    Financially it would be a cash purchase and there's an annual management fee of around 800 euro to cover block insurance, sinking funds etc. My main reason for wanting to buy it is that I love spending time in the area and the apartment itself is great.

    Are there other things I should be looking into before I take the plunge? Heart and bank account say do it but head isn't so sure. The sellers bought it as a holiday home and are selling because they don't get much use out of it.


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