Advice sought of Leitrim Property

l5auim2pjnt8qx

Hi ,

I am looking for advice for my sister who is thinking of relocating to Leitrim
for the property below.

https://www.daft.ie/leitrim/houses-for-sale/mohill/errew-drive-lough-rinn-mohill-leitrim-1836652/

Herself and Hubbie are looking to sell Ashbourne house in a good demand estate-
pay mortage off ....total savings and the sale of the house would leave them with 230K budget including all fees.HUbbie will still locate to Dublin Mon-fri
for work wife will look for part -time work maybe in Carrick on Shannon.KIds
have fled the nest so probably retirement home.

Told my agent that the house in Leitrim will go for well 10/15k over advertised price and last house sold last year for 167K as house is in hugh demand estate.

Is the house good value at price quoted?

rosmoke

Sorry, 4 hours a day commuting it's a lot ! I suggest it doing it for a week first.
No point having a nice house if you see it only on weekends.
The price it's quite normal for the area I guess.

catrionanic

Would they not consider renting for a few months first? Oils give them a chance to get to know the property in the area, and more importantly to try out the commute. Leitrim to Dublin and back, Monday to Friday, is horrendous.

Samuel T. Cogley

Madness IMHO.

April 73

No way would I commute from Leitrim to Dublin 5 days a week. Whereabouts in Dublin is the job? You could be looking at 4-5 hours driving a day. Count up the cost of fuel for a month!

Bigus

April 73 wrote: »

No way would I commute from Leitrim to Dublin 5 days a week. Whereabouts in Dublin is the job? You could be looking at 4-5 hours driving a day. Count up the cost of fuel for a month!

And massive depreciation on vehicles because of high mileage, plus the cost of always having a good car for the big miles.

Bigus

There's an annual service charge on those houses I think.

l5auim2pjnt8qx

They are happy with the commute ,estimate around 1.5 hr each way.Mainly doing
it to be mortgage free and they bought enjoy treking and being outdoors .

Both in there early fifties so there only concern would be if house prices
fall again or if they would like to go back would they be priced out of the market.

Suppose do people think 4 detached beds are still undervalued or overvalued at this price 210 -230k in one of the cheapest counties in the country.

lalababa

As Op 'locate to Dublin mon-fri' means live in Dublin during week?
Wouldn't be paying 200k + for a 4bed in Leitrim athankyouverymuch.

l5auim2pjnt8qx

Bigus wrote: »

There's an annual service charge on those houses I think.

Correct! Management fees in most housing estates , fees include grass cutting,
lights ,bins ...usual stuff nowadays. fees €1,000 annually.On the grounds of Lough Rynn Castle ,suits them both drive.

Truckermal

200K for a house in Mohill well fcuk me!

OP commuting is a mad idea and will be a 2hr drive each way as the N4 traffic is really bad in the morning! Nice retirement pad though in fairness but commuting to the pale for another 10 years will drive the man quare...

rosmoke

It takes 1h30min flying to Paris, I'd rather commute to EU midlands and enjoy life with no rain.

April 73

I live 28km from the city centre. That’s up to a 3 hour daily commute if I’m in the office for 9am & leave at 5pm.

It's at least 2+ hours each way to commute.
Mohill is a sh1t hole with nothing to do in it.
The house is over priced by at least 100k .

If they really want to live in leitrim they can find far cheaper with the same long commute in a nicer town/village or close to one.

Samuel T. Cogley

April 73 wrote: »

I live 28km from the city centre. That’s up to a 3 hour daily commute if I’m in the office for 9am & leave at 5pm.

OP may still have to do those 28Kms.

Lady Haywire

I live just outside of Mohill (also next to a lake, they're 10 a penny here).
Inflated prices around that estate & Lough Rynn is not a patch on some of the smaller lakes. Lough Allen (to me) is much more scenic, cleaner & definitely cheaper. Believe me when i say there's value to be got if you have patience! I know of three in the area been up & sold in the last 6 months or so & wouldn't have been near that price.
Is it just for the estate part they're looking for it? I'd have thought if you're moving to Leitrim you'd go for peace & quiet, not estates.

l5auim2pjnt8qx

jodaw wrote: »

Them houses were 120K about a year ago. Pumping up the prices all over because them houses are literally in the middle of nowhere. Think they have bulk gas heating also and i would imagine a hefty management fee.

Houses that where originally marketed as holiday homes for celebs

Estate Agent the 100 k marked homes were bank sales and all sold to investors.

Nick Faldo designed golf course which never cam to fruition appartenly and some resident got stung for 600k back in the boom years.

DoozerT6

It's a lovely house. But on a purely practical level, if the kids have all fled the nest, they could find that a large four-bed detached house is simply too big for them in a few short years.

l5auim2pjnt8qx

DoozerT6 wrote: »

It's a lovely house. But on a purely practical level, if the kids have all fled the nest, they could find that a large four-bed detached house is simply too big for them in a few short years.

I think they may be expecting alot of grandkids in the future LOL ...my sister said to me that she always wanted a big detached house as she has always lived in small semi d's with tiny gardens and that there an article in one of the papers
stated that alot of people are now moving to the west.

She doesn't want to be too isolated so a small estate takes anyway any insecurities in case she is alone for a night or so.

Also they are priced out of the bigger town of Carrick on Shannon as 4 bed detached are now going for 300k mark circuit ,house probably fits into her picture of a dream home but maybe hell for other's.

Hell bent on commute but there you go. Homes are gas as another poster suggested but it does have a stove burner.

Creamy Goodness

€210k+ for a house.
That’s in Leitrim.
And doing a 2+ hour one-way commute.
That requires a management fee.
And will require a good chunk of change to heat.

If you were going to buy €210K+ of Bitcoin I’d call them less crazy.

April 73

Get your sister & her husband to rent a place for a month close to where they are looking for a house. Get them to drive up & down to work for a month & see how they feel about it. It would be a small investment for such a big life change.

Glass fused light

Enzo Square Bargain wrote: »

Told my agent that the house in Leitrim will go for well 10/15k over advertised price and last house sold last year for 167K as house is in hugh demand estate.

:rolleyes:
The old joke how do you know when a teenager estate agent is lying?

Enzo Square Bargain wrote: »

Hi ,

I am looking for advice for my sister who is thinking of relocating to Leitrim
for the property below.

Why Leitrim and why Mohill?
How much time has each spent living in the sticks/the country?

Enzo Square Bargain wrote: »

https://www.daft.ie/leitrim/houses-for-sale/mohill/errew-drive-lough-rinn-mohill-leitrim-1836652/
HUbbie will still locate to Dublin Mon-fri
for work wife will look for part -time work maybe in Carrick on Shannon.KIds
have fled the nest so probably retirement home.

Is the house good value at price quoted?

IMO No Just as its not in Mohill and importantly they will have to drive into Mohill and anywhere else for the basic food supplys or to socialise not a good idea for an OAP house. The house itself dose not lend to being adapted to a bedroom and bath downstairs, and the turns in the stair makes a chair lift complicated.
How many of the houses are actually occupied?
2+ hrs commute each way on a good day if the job is on the outside of the M50.
There are cheaper houses listed in the area with a investment of some of the saving
Eg 50k would make this warm and pretty
https://www.daft.ie/leitrim/houses-for-sale/mohill/11-ard-na-si-mohill-leitrim-1803586/

Same estate?
https://www.daft.ie/leitrim/houses-for-sale/mohill/errew-drive-lough-rynne-castle-mohill-leitrim-1754168/

l5auim2pjnt8qx

jodaw wrote: »

This is a realistic price for a leitrim home

https://www.daft.ie/leitrim/houses-for-sale/newtowngore/5-woodford-green-newtowngore-leitrim-1846752/

Ok. It is not detached etc etc... but it is not a lot smaller either. If the leitrim property market crashes again you would not lose a whole lot. With the other house you would be chalking up 100K+ loses.

Also commuting from there to Dublin would make a person a shell of themselves within 5 years. It would be almost 3 Hours each way

She is happy in the South Leitrim market with 2 train stations Carrick & Dromod and quite familiar with such.Newtowngore is more Leitrim/Cavan
border and a hugh cultural difference .

The move is for a detached house and also they like the the restaurants
scene the surrounding town's offer which is in stark contrast of what Newtowngore could offer.

Enzo Square Bargain

Enzo Square Bargain wrote: »

She is happy in the South Leitrim market with 2 train stations Carrick & Dromod and quite familiar with such.Newtowngore is more Leitrim/Cavan
border and a hugh cultural difference .

The move is for a detached house and also they like the the restaurants
scene the surrounding town's offer which is in stark contrast of what Newtowngore could offer.

There is nothing to offer in mohill. Definitely not a restaurant scene!
If they are set on it, in particular a 2 hour+ commute, then closer to the n4, between dromod & Carrick would be a far far better location.

l5auim2pjnt8qx

jodaw wrote: »

Here is price history on the estate

15/03/2018 €79,295.15 6 Errew Drive, Lough Rynn Castle Estate, Mohill
04/12/2017 €79,295.15 17 Errew Drive, Lough Rynn Castle Estate, Mohill
01/12/2017 €79,295.15 2 Errew Drive, Lough Rynn Castle Estate, Mohill
16/11/2017 €87,500.00 26 Errew Drive, Lough Rynn Castle Estate, Mohill
06/10/2017 €123,500.00 4 Errew Drive, Lough Rynn, Mohill
22/08/2017 €79,295.15 7 Errew Drive, Lough Rynn Castle Estate, Mohill
08/05/2017 €87,500.00 14 Errew Drive, Lough Rynn, Mohill
10/03/2017 €85,000.00 16 Errew Drive, Lough Rynn Castle Estate, Mohill
14/02/2017 €87,000.00 4 Errew Drive, Lough Rynn Castle Estate, Mohill
19/01/2017 €95,000.00 25 ERREW DRIVE, LOUGH RYNN CASTLE ESTATE, MOHILL
21/12/2016 €130,000.00 18 ERREW DRIVE, LOUTH RINN, MOHILL
08/12/2014 €110,000.00 24 ERREW DRIVE, LOUGH RYNN, MOHILL

You will be far and away the highest priced paid for a house there. Also looks as though there is some Nama/Vulture Fund activity there. If that is the case then probably lots of vacant properties and no sense of community

[27 Errew DR ]The last one didn't go through register until Feb 2018 but was sold last summer 2017 that's what she was told anyhow. Only 3 empty and they are sold to an investor .Almost all are owner occupied with some are used for weekend by families.

Homes are getting hard to rent even in south Leitrim has she was told this by several estate agents and in some cases queues and she sees renting as dead money and could be better spent on the house.........The restaurant scene would be Carrick,Dromod ,Leitrim village and I think Jamestown.

26/02/2018 €80,000.00 18 CLEMENTS COURT, LOUGH RYNN, MOHILL
23/02/2018 €242,000.00 GORTNALAMPH, MOHILL, CO LEITRIM
15/02/2018 €100,000.00 1 LORD AVENUE, LOUGH RYNN ESTATE, MOHILL
13/02/2018 €167,500.00 27 ERREW DR, LOUTH RINN, MOHILL
19/01/2018 €42,000.00 23 CAPPAGH, MOHILL, LEITRIM
19/01/2018 €140,000.00 DRUMDOO, MOHILL, CO. LEIT

Don't mind what the estate agent trying to sell houses tells her about renting.
There are hundreds & hundreds of empty houses in south leitrim.
Plenty of ghost estates built during the boom years & never a soul living in them

Spanish Eyes

Leitrim is a hidden gem. Unspoilt, so ask yourself why this is so, and why it is the least populated county in Ireland?

Lovely to live there I am sure. But I would never buy a "new" build like that in the country. Might as well stay where they are!

Anyway, the commute would be a killer. I can't understand why they don't stay in Ashbourne until retirement, and then re assess things. Selling up and paying off the mortgage is a dream for many, but the way they are going about it does not make any sense to me!

So what about medical care, hospitals, transport if either or both cannot drive for some reason, or bad weather prevents it. Same applies to anyone moving from a place like Ashbourne to the sticks. The natives know the score, but incomers might find it very isolating.

Has your family got any connections to Leitrim? I suppose I am asking why they are thinking of there in the first place.

Skype17

My only experience of this estate was renting a house for a night because we had a wedding in the hotel. Something your sister needs to consider as she mightnt have the security of a small estate that she's hoping for

Just had a quick look on myhome, there are 4 bed detached houses in dromod asking less than 200k.
Way better location, right on train line.
Also a nice 3 bed on its on in the country in annaduff, halfway between dromod & Carrick for just over 100k. Could easily have a bit of work done to it.

Edit, rooskey is closer to dromod & train, Good value there too.

Lady Haywire

bubblypop wrote: »

Don't mind what the estate agent trying to sell houses tells her about renting.
There are hundreds & hundreds of empty houses in south leitrim.
Plenty of ghost estates built during the boom years & never a soul living in them

^ This. Be wary of the estate agents. Currently in the early process of getting a house for sale here & trying to choose who to go with. I bid on land recently enough & found out the agent had been polling me up with a false second bidder :rolleyes: So he's out of the equation for us.
Hughes seems to be the most popular, he is also from the area & knows it well.
Personally I don't like the L. Rynn houses at all, back in the big freeze of 2010 or the year before, I think they had a lot of issues in the estates there. The houses were literally thrown up in the boom years and I really wouldn't be happy with the speed they went up at. I'd have to investigate a lot more before i considered any of them.

l5auim2pjnt8qx

bubblypop wrote: »

Don't mind what the estate agent trying to sell houses tells her about renting.
There are hundreds & hundreds of empty houses in south leitrim.
Plenty of ghost estates built during the boom years & never a soul living in them

Not really I have driven many times around those area's over the last few years
and most repossession's of the bust have been hoovered up.

To name a few

Shannon, Quays rooskey
Millbrook ,Dromod
Priors Point, Carrick on Shannon
Even rivermeadows in Dromod are being snapped up.

The appeal is for an upmarket feel over surroundind estates in the town as its
on a 5 star resort not that she is posh Haha!