Cheapest homes in Ireland.
Shit homes for great money.
I love keeping an eye on the housing market. Mostly because i am in the market for a better home but also because i do some work in the industry and have an eye out for an investment.
There is a few great renovation shows on tv here that focus on bargains and buildings but i really love watching Irelands cheapest homes.
We sort through hundreds of properties every week and separate the diamonds from the rough so you don't have to. Our Instagram feed showcases just 1 find per day, but we have so many more waiting to be discovered! Our weekly newsletter gathers up everything that caught our eye under the €100k price tag for the past 7 days.
Now none of these are going to be state of the art mansions but for under €100K and with a little time and money they can be turned into spectacular homes.
There is value out there for anybody willing to compromise. That could be based on size, location, amenities but there are a lot of gems out there if you move a few miles away from the main towns.
The one in our area that featured on the show was bought for 80K with a pub license and I'm not sure how much money was put into it but the place is now a modern fully functioning pub with cafe and 6 rooms upstairs for i'm guessing under €350,000 with a large outdoor area.
You wouldn't buy a nice house for that kind of money but you could buy a 200 year old building and put the work into it.
Some of the houses featured on the show are bought and fully renovated for under €150K. A new three bed in my local area is going for €290,000 in the village with a second hand one not far behind it.
That is a huge difference in value and the older houses can be extended and brought into the modern world. Once you retain some of the existing structure you have a pretty free rein on changing the reverse of the property.
There is a lot to be said for searching out bargains and reusing them for accommodation instead of just trying to build more and more new houses. I have a friend looking to get back on his feet and get his own place so just found a perfect project house not too far from him for a stepping stone.
For €75K I'm half tempted to just buy it myself and if i had the time would take a proper look at it.
Put 20K into the place. Modernize it and flip it for a profit in the next couple of years. The location is good and a little time would go along way to restoring it.
There are lots of ways to make money in this life and this show is a great example of how to make it go as far as possible. Smart choices that can get you mortgage free very early and open up your choices from there.
Will I tokenize it and sell shares to the community. Own part of a house in Ireland and finance the build. 😂😂😂
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That's a good price for co. Cork, but lots of money and time needs to be put into it. We re meant to be in recession right now so I'm really interested to see which way the house market prices are going to go, there s meant to be a drop but who can ever really tell.
Thanks for the interesting post!
There are lots of bargains out there if your willing to put some work into them.
Co.Cork is nice and with a bit of money and effort it could be turned into a lovely family home.
I did expect a crash in the next couple of years with the cost of living but so far there are no signs of the markets stalling.
Lots of buyers and not many for sale. Hopefully that changes in the near future.
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That would be a decent idea, to tokenize the project, similar like REIT. How is the tax situation in Ireland, flips are worth?
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Could be fun for people to buy shares and see if it can be flipped for profit.
If it's your primary residence then it's tax free.
If it's not your main residence then you would pay capital gains on any profits made form the flip. 35% i think.
But if i bought to renovate i would go as a primary residence since i don't have a house in my name at the moment.
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How long need you to hold it, till the flip is tax free? It might be an interesting business case.
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The housing market is booming in my area. Over the past few months it settled a little but some places are still a good 3X the price in which I would pay for them.
Prices have gone well up here over the past couple of years but closer to the 50 - 80% mark.
There are still projects worth the money but only in the older buildings like these.
Newer builds are way overpriced but the demand is there for them.
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Good luck with it. I am not sure how good the market will be though and make sure to look up the surroundings first. Also, don't get a variable rate mortgage because I heard a lot of people got messed up over it. It's better for you to have a fixed cost than something that could go up.
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It comes with a small bit of land and i know the area so there is a lot of potential there for growth.
Going to take a closer look at it anyway out of curiosity.
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I loved watching the youtube channel where the guy was doing $1m dollar flips in the lasts crisis 2008 or so, what a buzz!
Those are great shows.
Love watching house programmes and they are always so different.
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