Roscommon property

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auto320

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I just got off the phone to a colleague who is about to buy a house in North Roscommon, he wants a holiday home and has more or less agreed a deal with a seller at a sizeable discount on the quoted price.

I advised him to sit tight for a few more months, I reckon that there is huge oversupply in that area and he will do better later on IMO. Anyone know this area well and have any comments/advice?
 
Passed through it at the weekend coming back from Mayo and the amount of new section 23 developments unoccupied was unreal, would definatly put me off. It's a disgrace really, lovely houses but not a soul in the place!. I couldn't help but notice it.
 
I agree with Headchecity, Roscommon is turning into the new Longford, with 100's of unoccupied propertys and no sign of them stopping to build. It would really put me off, but in saying that if he is getting a bargain why not? They may go down even more, but if he can afford it, I guess he has nothing to loose!
 
The place he was going to buy was north Roscommon, near Boyle. He reckoned that proximity to Sligo would eventually help sell the glut of stuff there, but I'm not so sure -- I think that the oversupply will lead to a lot of offloading by sellers in the near future. I believe that where there is a growing amount of property chaising a diminishing number of buyers, the only way is down, regardless of location.
 
These section 23 properties ....i mean what is the point of building them?
Presumably there are a tax avoidance measure. Can the owner/buyer sell them on or can he rent them or what are the rules?o.k. rich people can use them as holiday homes but surely gov. policy should be about houses that people will live in.No doubt there will be a need for houses in rural areas for young couples .....but only at a sensible price.Also any subsidising of these homes by the gov should be abolished....i mean its bad enough that tax money should be given back to rich taxpayers to buy holiday homes,but the idea that poor rents in one property can be offset against profitable city property .....of course this will encourage investors to hang on to homes they may not need.
I am not sure of all the facts ,but i do hope these properties get sold at sensible prices ..maybe 150k to people to live in.
 
auto320 said:
The place he was going to buy was north Roscommon, near Boyle. He reckoned that proximity to Sligo would eventually help sell the glut of stuff there, but I'm not so sure -- I think that the oversupply will lead to a lot of offloading by sellers in the near future. I believe that where there is a growing amount of property chaising a diminishing number of buyers, the only way is down, regardless of location.
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The property market in Boyle has been quite bouyant mainly with local people buying. There isn't much of a problem of vacant houses in the town, and rental is popular too. As your friend is talking about a holiday home then presumably it is located near one of the lakes, which would allow for good rental opportunities to fisherman which are constant visitors throughout the year. This might be useful for when it's not in use by your friends. Boyle is an easy and popular commute from Sligo, Longford and Roscommon town. It's very picturesque and less crowded and over-developed than nearby Carrick-on -Shannon, which in my opinion makes it an attractive place to buy.
 
sandymount said:
There is about 1400 properties on sale on Daft in Roscommon http://daftwatch.atspace.com/daftcounty_21.html

and about about 4500 in Dublin
http://daftwatch.atspace.com/daftcounty_1.html

That's massive oversupply. How many people live in Roscommon anyway?
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Around 55,000 in previous to last census, i.e. before the influx of emigrants. I'm not sure since the 2006 census. Isn't there supposed to be a shortage in Dublin though, or certainly was last year before things slowed down a bit? Also is that figure for the entire county or just the area in North Roscommon being discussed?
 
1400 for the full county. For me one house for sale for every 40 people(inc children/old people) living in Roscommon seems like madness. I am sure that most people living in Roscommon already live in houses. I can't see much in the way of employment opportunities. Being from the west myself Roscommon would not certainly rank very high in places that I would consider buying a holiday home.
 
sandymount said:
Roscommon would not certainly rank very high in places that I would consider buying a holiday home.
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Excuse me! Angling, cruising, golfing, cycling, horse racing, walking....and all in peace and tranquility. Throw in better value than anywhere else in the country! Surely attractive to many retired people who have lived in busy cities all their lives and want only to retire away from it all??

By the way I do tend to get a bit defensive when someone slags off my home county!!
 
sandymount said:
1400 for the full county. For me one house for sale for every 40 people(inc children/old people) living in Roscommon seems like madness. I am sure that most people living in Roscommon already live in houses. I can't see much in the way of employment opportunities. Being from the west myself Roscommon would not certainly rank very high in places that I would consider buying a holiday home.
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That was my point, and the reason why I advised him to hold off. 200 properties for sale in Boyle on Daft right now, and growing by the day. A huge dose of reality has to hit the sellers in this area, they appear to think that because Dublin is expensive, everywhere lese should be too.

By the way, I think that his idea of buying in Boyle is good, its a lovely place, but he can do better by waiting.
 
auto320 said:
That was my point, and the reason why I advised him to hold off. 200 properties for sale in Boyle on Daft right now, and growing by the day. A huge dose of reality has to hit the sellers in this area, they appear to think that because Dublin is expensive, everywhere lese should be too.

By the way, I think that his idea of buying in Boyle is good, its a lovely place, but he can do better by waiting.
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Agreed! :)
 
gebbel said:
Surely attractive to many retired people who have lived in busy cities all their lives and want only to retire away from it all??

By the way I do tend to get a bit defensive when someone slags off my home county!!
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Probably one of the best bits of advice given in these pages to date, but how many of us have the get-up-and-go to actually do it? When you think of it, most of us who live in parts of the greater Dublin area have millions of euros tied up in what is basically an ordinary house. We could all move to a nice place like Boyle to an equivalent house in lovely surroundings and really retire with no more money worries, ever. Its only two hours away on the train, takes as long from the suburbs sometimes! Maybe I'll start house hunting!

All joking apart, maybe Boyle and places like it are worth watching as prices slip further.
 
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