Why are pebble beach holiday homes in tramore available so cheap?

mydogjack

Holiday homes in pebble beach, Tramore available for as little as 45,000 euro. I know that the tax section has come to it's sell date, or somethin like that but they are ridicously cheap and wonderin if anybody knows is there a catch, etc.?
Basically lookin to purchase one with a friend. Auctioneer told us 800 euro per annum maintenance fees but other than that no catch
Is area gone run down? Somethin wrong with area etc.?

mydogjack

P.S I'm not from the area so any advice would be appreciated.

counterpointaud

If you are seriously considering spending that kind of money, I would say come down and have a look at the properties. I personally think you may reconsider when you see them though. It's essentially a ghost estate of holiday homes. Owners tried to rent out for yearly leases when it was clear the tourist market was never going to fill the place even in the height of summer, and even at €450pm most of them remained empty. Many of them are run down and damp. Very poor construction in the ones I've seen also... I remember partying in some of them during the early 00's and they were fine then, but they were not built to last without serious maintenance, and the development never made the money to fund that.

Having said all that, I am sure there are nice properties in there, I just didn't see any (I viewed four about a year 1/2 ago).

Sully

Similar question asked here;
http://www.boards.ie/vbulletin/showthread.php?t=2056150395&page=2

Might help.

Sarahfayess

Hi
Yeah Pebble Beach area doesnt have a great reputation down here, and from what I have seen the area is very run down. I havent been in any houses in a couple of years myself, but I have heard bad things about them basically they are cold, hard to heat and damp.
Ill put it this way, I myself was looking for a cheap place to rent there a while back, but even for 450pm I wouldnt live down there

mydogjack

thanks sarah for the reply, least it's honest. The auctioneer I was talking to sang their praises big time, but i could smell the bull sh#te from him. Another friend told me that ladies of the night also frequent the area, not exactly the family holiday postcard. (if true)

Sarahfayess

No worries, glad to help. Ive also heard the rumours of the ladies of the night too. Its a pity really because the place did look nice when it was first built, its just a pity that they didnt maintain it

rasper

Its a fantastic location, but they doing a very poor job with management, maintenance is poor and will get worse considering the days ahead. If control was taken they'd be a steal but the way they are now it seems they are in a downward spiral and will be a wasteland in 5 years time.
Of course hopefully that will change

wellboytoo

A friend of mine rented one long term recently 3 bed in good nick at €400 per month, was in it during the recent gale, and purposely tried for wind coming thru doors and windows and not a puff, was pleasantly surprised. This maybe a one off but the standard was fairly good. the price is low because no one can get a mortgage! and they were bought for not much more than the asking price and the owner has probably got the same if not more back in tax relief over the last ten years. So caveat emptor, get someone who knows buildings to check it out , but check out the management company and make sure you have an input, and can see annual accounts, are there are a lot of horror stories in that area.

jupiter85

i checked them out, poor construction and insulation, the one i checked had burst pipes below the foundation inside and out - but this was during the cold spell-that pretty much happened to everyone. no chimney, i suspect the foundations are pretty poor as it would have been a rush job. Some of the tenants look dodgey. you dont own the land around the building until everyone of them has been sold.

Still though not bad for 45k and two bedrooms+ you get everything with it . its good value for a concrete construction.

Paddy C01

I bought one of these in June. Excellent value. Met the management company & they have great plans over next few years. Slowly but surely, each property is being removated & painted. The playareas have been painted & repaired & great for my kids. Got it fully checked out structurally & all is sound.
I've 3 young kids so it made sense so as to save the foreign travel & grief.
And at 43k, how could anyone go wrong?

rasper

Wow, 43k thats sounds for nothing, place has great potential with good management in place, but they have to be careful if most owners go for long term rental options, I wish them well though

livinonaprayer

Have friends who live down there, and I would say that you can actually grab a real bargain there... OK, so they are not perfect of course, there are problems, but they are nice little houses, and there is a friendly neighbourhood too...

The only problems are really that there is damp during the winter time, and most have only storage heaters which are very expensive to run in winter time. But if you had a few grand, you could fit a central heating system in there maybe?

As for ladies of the night, if there are prostitutes in Tramore, they must keep themselves to themselves because I've lived here for many years and have never met one LOL!

Tramore is a great town, and overall these properties are a bargain, what else you gonna get for 45k these days in a lovely seaside town like Tramore!?!