Thinking of buying a house in Edgeworthstown, whats it like

goodburger

Hi

We are thinking of moving to edgeworthstown, whats it like to live there.

jimmiskip

It's a bit quiet since it was by-passed there a couple of years ago and the main industry in the town lost half it’s workforce.

One thing you might consider is that there are a huge number of houses for sale around the town at the moment and have been for some while now. I think it’s definitely a case where supply has far out weighed demand and if you shop around there’s a good chance that reasonable offers will be listened to..

kerash

Yeah its a small town, grand central location for commuting, not great on the shopping front, but building a few units which seem to be near finished. Not sure if their commercial but it would be an ideal spot for retail, I wouldn't be keen on living in the town tbh, but just on the outskirts would be grand. best of luck anyway!

orbital83

Working locally or commuting?

Personally if buying in Edgeworthstown I would go for an older house or a "one-off" house, as opposed to one in the new estates.

There are a huge number of houses lying empty in the new estates, and a lot of the occupied ones seem to be rented out.
These houses carry tax breaks so you can write off the cost against your income, but that also means a lot of them were bought up by investors living miles away.
In my humble opinion - it's not the kind of surrounding I'd like to live in. You don't know what's going to happen to the empties (for instance, they may be bought out by the council). If you have problems with neighbours who are renting, you'll have trouble trying to get anything done about it if you don't have any other owner occupiers for support. A landlord in Dublin who's only interested in his tax breaks is unlikely to be much help.
Some of the estates are very badly finished - mounds of clay, pipes sticking up through the footpath, roads not properly tarred, etc. Will this ever be sorted I wonder?

This is just the impression I get driving past - not wishing to offend anyone - some of those estates may be grand, I don't know. All I'm saying is, have your eyes open!

DonJose

John J wrote: »

These houses carry tax breaks so you can write off the cost against your income, but that also means a lot of them were bought up by investors living miles away.

From what I understand you can only offset the tax against rental income. I reckon its almost impossible to rent out a property in Edgeworthstown due to hugh supply, the only way this section 23 would help you if you have another property in an area where there is high rental demand.

"An apartment costing €200,000 may have a 90% qualifying cost of construction of €180,000. The qualifying cost of construction is, in effect, the "Section 23" allowance/deduction and can be written off against all Irish rental income in the first letting year. Thus, a landlord with sufficient other Irish rental income could potentially save €79,200 in tax (assuming the landlord pays income tax at the marginal rate of 42% plus 2% levies), reducing the cost of the apartment to €120,800 (before stamp duty). Any unused relief can be carried forward against any Irish rental income indefinitely."

http://www.saleandleaseback.ie/section_23.shtml

orbital83

You also get relief as an owner-occupier, but only half the amount that a landlord would get.
http://www.revenue.ie/leaflets/owner-occupier.doc

the_syco

John J wrote: »

Some of the estates are very badly finished - mounds of clay, pipes sticking up through the footpath, roads not properly tarred, etc. Will this ever be sorted I wonder?

From what I've seen elsewhere, alot of this stuff won't be finished untill the estate is finished, which may not be for a while. One of my Aunts moved into an estate in Limerick a while back. 2 years later, the green area's where still piles of muck, as the estate wasn't finished.

drafter

well with the annoucment of the extension of C & D factory in the town with an investment of 60 million euro i think it will defo bring investment back into the town. new shops are been build on the far end of the main street at present. if your buying a house its a good starting point on the property ladder. as for rentals there is a demand there . rental houses that are empty i know some are asking far to much rent for them

drafter

just after looking at 3 bed semi on daft.ie website now thats not bad price around 180000 since last year when i was looking they were over the 220000 mark on new houses in that area. considering what the town has in line of supermaket, bank etc and a short taxi ride to longford town if you want to explore more nightclubs...

amaughan

well i live in bracklin and that estate is fine its actually quite a nice place to live as everyone keeps to themselves.

if your in anyway racist i wouldn't advise living here as there is about 5 people here that are from ireland.but everyone is very friendly when you do get talkin to them.

the houses are very big and cheap for the size but very well made

Munya

There are some bad estates, I can't remember their names but I will find out for you.

the freesatter

anywhere but granard