Purchasing in Cork City

Z

Zack

Registered User
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12
Hi all,

First post here, very informative board I must say.

I am considering purchasing a property in Cork City in the 325- 350,000 range - this should get a modest 3 bed in or near the City Centre - I hope.
I currently own a 3 bed house near Dublin City Centre valued (currently) at 600,000 with an outstanding mortgage of 155,000. I am in my early thirties.

The intention would be to move to Cork in the next 2 yrs with my partner,rent the Cork property out in the short time before moving in and retain the house in Dublin as a rental property.

Two things, first up, I would be interested in the board's opinions on this course of action are in the face of increasing rates - should I hold off on this?

Second, I am trying to familiarise myself with Cork City, anyone have any pointers on decent/up and coming areas in Cork?
Thanks for your help.

Z
 
realistically to get a 3 bed for the prices u mentined,you will be well outside the city IMHO,you may need to raise the budget for what you're looking for
 
I agree with JohnnyBoy.....expect to pay ~€380k for a modern 3-bed semi in Douglas; more in places like Mount Oval, Maryborough etc
 
Ballypheane and Turners cross are still throwing out ex-council houses for the 350ish mark and are 20 minutes walk into town.. around the Lough it's more expensive. a nice detached just sold on the Lough road for approx 650k + and sold in approx 4 weeks,exceptional area i know .there is a big new development going up behind the airport by Ruden homes,about 40 minutes walk to town or 15 in the car.nicely built houses..
 
Thanks for your responses,

A former council house would be ideal, if I could get it for near the 350 mark. This is the type of property I had initially
considered.
Something within walking distance of the centre would be ideal. I'll look some more at the Turner's Cross area.

Z
 
Good value 4 bed semi in Turners Cross for €380k

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there are also a few around Ballypheane and i know of 2 more coming up for sale soon near the park there.
it hink sherry fitz have a few fixer uppers in that area too

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and

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Thanks for the pointers guys. I actually investigated one of those props - the Friars Walk house.

Are you lot bears or bulls?. Tbh, I'm becoming more and more unsure about going ahead with this purchase in Cork.
10/12 months ago I'd have had no qualms......now however I'm less certain.There seems to be a shift in sentiment emerging.

I'd be interested to hear your opinions.

Z
 
i'd like to hera what you thought of the friars walk house(i don't own it but i have been in it years ago when it was a doctors surgery)

the houses in this area are defo on the way up and i think will hold their value because the city centre is so close as is the university,schools,bus routes etc
 
I'd have to agree with therave - that area is so close to Cork city that IMO you can't go wrong. It's very popular with students attending UCC and is also very convenient for South Ring Rd (locally called South Link). Houses in that area are generally snapped up quite quickly. Also, because they tend to be older houses - they generally are on larger sites and have larger rooms. Best of luck!
 
Thanks for your responses,

Friars walk house,well TBH,my partner queried the Estate agent, response was the immortal phrase " it requires some modernisation".....ahem.
As we have more or less just completed a renovation project on our Dublin house, (which we purchased 4 yrs ago), we really don't have the stomach to purchase anyhting other than a turn key or something requiring minor cosmetic improvements this time around.

A house near UCC would be ideal because as stated in my first post, we intend renting the property in the short term and occupy it ourselves when we eventually make the move to Cork. Close proximity to UCC should guarantee occupany for most of the year.


The arguments you put forth WRT purchasing in near Cork City Centre makes sense. They are the precise reasons we are entertianing the move in the first instance. Notwithstanding the fact that the census showed a decline in Cork's population (IIRC), it seems to be a city that is going places and has, IMO, a more amenable scale to that of Dublin.Improvements to the road & rail links to Dublin/East Coast also increase it's desirability as a place to live.Your estimations of the Friar Walk area are v interesting........nothing like some local knowledge.


All that said, I suppose I'm just concerned about really gearing up at this point in time.


Z
 
my parents live close by to that house and in their park there are a few let out to students but i do know of one house which has a high turnover of tenants,not sure if it's the tenants or the landlord who are at fault.

lot of investors have bought around the area over the last few years but also a lot of the locals are looking to mve back near their mothers...
the closer you get to UCC though the higher the price will get eventhough there are some bargains in that are also but in need of work and much smaller houses.
another thing is the amnount of student accomodation being built,there is quiet a lot ,especially in the western part of the city around Dennehy's cross,mainly section 50(i think it's section 50)

good luck with the hunt.let me know if you need anymore info
 
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