Cost of renovating this fire damaged apartment

Jensbraun

Dear Boarders,

I recently moved to Ireland from the continent, and I am looking into buying a property in the Galway region, but the price of most properties seems to be out of my budget (100k). Today while doing my regular search I found this offer which is quite interesting: daft.ie/11587538.

The damage seems not to be severe, and I am just wondering if I could get your "knowledgeable" views on how much I am likely to spend to get the flat back to habitable standard.

I would also appreciate if you can name some companies I can approach for this kind of work, because to be honest, I have two left hands as they say in Germany. Though not the youngest anymore, but I am definitely a very good and capable learner, so I can still make myself useful one way or the other to save cost.

What do you guys think? Thanks in advance for your valuable contributions.

handlemaster

Jensbraun wrote: »

Dear Boarders,

I recently moved to Ireland from the continent, and I am looking into buying a property in the Galway region, but the price of most properties seems to be out of my budget (100k). Today while doing my regular search I found this offer which is quite interesting: daft.ie/11587538.

The damage seems not to be severe, and I am just wondering if I could get your "knowledgeable" views on how much I am likely to spend to get the flat back to habitable standard.

I would also appreciate if you can name some companies I can approach for this kind of work, because to be honest, I have two left hands as they say in Germany. Though not the youngest anymore, but I am definitely a very good and capable learner, so I can still make myself useful one way or the other to save cost.

What do you guys think? Thanks in advance for your valuable contributions.

you want to live in tuam or rent out house ? id imagine but not an expert cheap reno would be 40K but more likely 60 plus. that would assume roof is not damaged

DancingHomer

OP, do yourself a favour and forget about that house. If you see an estate with horseboxes, english registration vans, unhitched trailers and caravans.... just run. Run very far away.

Ask yourself why a house was burnt out in an estate. I doubt it was caused by a chip pan...

LirW

As an expat with very little knowledge about how it runs here do not take on a huge renovation project, it's gonna end in tears and it can turn out as money pit.

100k for Galway county is a pretty slim budget but what exactly do you need? Is the budget in hard cash or do you need to take on a mortgage?

Jensbraun

handlemaster wrote: »

you want to live in tuam or rent out house ? id imagine but not an expert cheap reno would be 40K but more likely 60 plus. that would assume roof is not damaged

Thanks for your reply. Yes, I want to commute from Tuam to Galway. I am looking for a place of my own. If I earn enough, and get a good experience I perhaps also think about buying to rent out. However, I am buying for own use for now.

Regards,

Jensbraun

Jensbraun wrote: »

Thanks for your reply. Yes, I want to commute from Tuam to Galway. I am looking for a place of my own. If I earn enough, and get a good experience I perhaps also think about buying to rent out. However, I am buying for own use for now.

Regards,

You said you have a budget of 100k. Do you mean you have 100k in cash to buy a house or you mean you have a 10k deposit and therefore can only get a 100k mortgage?

Victor

Part of me fears that the property was deliberately burned and if you buy it, it could be burned again.

You would likely have to remove all the plasterwork and redo plumbing and electrical work. All you are buying is 4 walls.

whippet

that is Grim.

CIARAN_BOYLE

It's worth noting that a house like this will be pretty much unmortgageable

UsBus

OP,

I know the estate, stay well away from it...you don't want to be living there..

Jensbraun

Deleted User wrote: »

You said you have a budget of 100k. Do you mean you have 100k in cash to buy a house or you mean you have a 10k deposit and therefore can only get a 100k mortgage?

Thanks for the Question. No, I don't have it cash. I intend to go for a Mortgage, and even though the bank is ready to lend me around 100k, I do not want to spend more than 100k in total due to other committments. I hope I have been able to answer your question adequately.

Regards.

Jensbraun

UsBus wrote: »

OP,

I know the estate, stay well away from it...you don't want to be living there..

Thank you very much.

Jensbraun

CIARAN_BOYLE wrote: »

It's worth noting that a house like this will be pretty much unmortgageable

Thanks for the insight. It's been helpful.

Jensbraun

LirW wrote: »

As an expat with very little knowledge about how it runs here do not take on a huge renovation project, it's gonna end in tears and it can turn out as money pit.

100k for Galway county is a pretty slim budget but what exactly do you need? Is the budget in hard cash or do you need to take on a mortgage?

Thank you very much for the insightful advice. The budget is partly equity and partly Mortgage. I need a decent, but must be expensive 2/3 bedrooms house.