Watergrasshill , Cork

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Bids08

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We are currenty looking at a development in Watergrasshill in Cork, Glenn Corrin, prices in this development have recetly been reduced and for the current market seem to be quite good considering, 3 bed semi for 275k, everything other than curtains and furniture are included in sale :). We feel that Watergrasshill would be a good investment for us as first time buyers due to closeness to Cork City, less than 10 mins from tunnel, acceptable services such as shops etc. However, we are getting mixed reviews on Watergrasshill and its potential for resale value, claiming that it wil be very difficult to sell in the future should we decide?
I was wondering does anyone know of any planned development for Watergrasshill in the near future, or even if there was something we dont already know about Watergrasshill, either good or bad!

Thanks!
 
Have a look at the Cork county planning map on their web site, it still indicates there are a few developments to happen in the area however I doubt any will start unless the empty homes in the surounding area start selling (Rathcormac).

€275k seams like a lot in current climate even for a A rated home in the area.
 
It seems extremely expensive for watergrasshill imo. This area along with other outlying areas are very heavily hit at the moment. I'd also question the level of services in the area.
 
I went out to have a look at this development, and I must say, I was very impressed.
We were looking to purchase a 4 bed detached, these are selling for €380K, they are really well spec. and the A rating is a real bonus.
We have been looking for the last 8 months, and this development is by far the best value and quality out there.
We did a bot of research and found that the services in the village are pretty good, 3 bars, pharmacy, restaurants, church, 2 supermarkets, 2 hairdressers, and the community atmosphere is brill.
We have put a deposit down with the agent, there are 60 house in the development, and over 70% have deposits on them.
I work in Little Island and can commute in 8-10 minutes, due to the excellent road network.
As Bids08 has stated, all you need to move in is your bedroom and livingroom furniture.
Hope this helps.
 
Kellerman said:
and over 70% have deposits on them.
Click to expand...


No way of knowing if this is the case - I would be very surprised if this was true. Agents can say things like this without any proof. If you were to question the agent again in a few months about why 70% of the houses are unoccupied they could come up with any number of excuses.

That said, I think Watergrasshill is a nice area with a good infrastructure around it.
 
I know, we thought the same, that the agent was exagerating.
But we had to pick out and alter our kitchen, and when we were with the kitchen company the lady produced the Glencorrin file which showed the names and addresses of those who had alreay ordered.
She said that its one of the only developments selling at the moment, and they are kept really busy with it.
I don't know what Bardsley developments are doing, but it appears to be working.
 
Just remember that you'll essentially be paying off your kitchen etc over the lifetime of the mortgage. Somebody has to pay for it - they're not fitting the stuff for free!

Is there a price without all the fittings?

For example if they have a 10k premium for the fittings, and your mortgage is 250k with the fittings, or 240k without, at average interest rates of 4% over 25 years total payments are €395887 with the kitchen, and €380042 without. (Using http://www.drcalculator.com/mortgage/)

In this case the mortgage for 10k extra costs you nearly 16k over the term. It may make perfect sense to do that for you guys, but perhaps worth considering anyway.

Obviously as the figures go up, the effect is bigger.
 
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