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House for Sale - Too Good To Be True?

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    #32
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    Just need to go in with your eyes open here really.

    OSI maps put the the construction of the property somewhere between 1888 and 1913. Which means that no matter what you do, you cannot insulate it perfect. Is it subject to any preservation orders? Will you be restricted in terms of any work you can do on it to make it warmer/safer/modern?

    The river would be the big concern for me. It will at some point break its banks, it will cause flooding.

    Chances are that damp is a continuous problem, smell too - BallyBay Sewage Works is upstream; though that depends on the way the river flows. If it flows towards Lough Major, it could get interesting. Flowing away from it you'll be fine.

    The river may also be part of that that house's land, which might bring dredging/maintenance obligations on you.

    Hotel across the river - thumping music till 2am every other weekend?

    As pointed out above, a lot of your facilities may be on shared land; the land registry for the adjacent properly puts it strictly inside the walled area - the driveway and crazy unkempt part of the lands at the back are not part of that house's lands. So you'd need to know who owns that land and what rights of way/wayleave are in place.

    You have practically no gardens; you might be able to carve some kind of outside seating area right on the bank beside the apartment, but not much for kids.

    I would wonder if the apartment arrangement was made to divide it into two properties - one which floods (and can't be insured) and one which doesn't.

    On the positives - if you already know the area is for you and especially if the lake is a big draw, then you're getting a decent sized property at rock bottom houses. Throw in €100k on renovations and you'd get a serious luxury property for absolute peanuts compared to elsewhere in the country. The last refresh was done in 2004 and looks it. It's perfectly liveable, but starting to age. You'd be seriously considering a complete redecoration in the next decade anyway.

    In terms of the downstairs flat - if you don't actually need that space for yourself, then I'd be inclined to keep it like that. Stick in on AirBnB, do an arrangement with the hotel, and use it for when you have visitors. All the benefit of some seasonal income and place that's good for friends & family to visit, without the hassle of a long-term renter.


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