Apartments

vodkacz

Hi guys,

Just wandering why the prices of apartments in Kerry are much less expensive than prices of houses? Are there any extras U need to pay once U get the apartment or what? Any hints would be greatly appreciated.

ongarboy

That's not just a Kerry phenomenon. Apartments are generally cheaper than houses everywhere as you lack things like private gardens, you share common entrances, neighbours living over and under you etc. If you are an owner occupier you will also have to pay hefty management fees for building/lift/corridor maintenance, landscaping, block insurance, refuse, sinking funds etc. Where an apartment in one area is more valuable than a house in another, that is purely down to desirability of the location. Some people like living without some of the responsibilities of a house so there will always be a certain demand for apartments but houses generally will go up in value more so make better investments.

Check with the real estate agent what the management fees are and that the management company running the apartment development are not in debt and reputable. Clues will be in the appearance of the common areas, neatness if the lawns and landscaping, freshly painted common walls, clean corridors etc. These are the first areas to deteriorate where a management company shirks its responsibilities.