Buying land/building

DonalB1

Hi all,

Strange enough request here but would love some advice so I know I make a decision with my head rather than my heart.

There’s an old nursing home in the area i grew up. It’s completely run down, roof and every aspect inside would need to be replaced and redone. Its been derilict for the past 6 years and has been a complete nuisance to the whole local area with people coming to illegally gut it and teenagers drinking there and wrecking havoc.

While I’ve no interest in a nursing home, our family land surrounds it. I’d love to own it, it’s a 4 acre site and is now on the market for 180,000 euro. The thing is I have no idea what I’d like to do with it.

I have no idea what it would cost to renovate, or if it could be re zoned for residential. I am currently renting in cork city but would love to move back out to it. It’s an incredible plot of land but again no idea would planning even be possible.

I suppose what I’m wondering is, how much is land likely to devalue? Am I crazy to be thinking about this when I don’t have a clear idea what I’d like to do. I’d love to own it but I suppose I don’t want to bring a serious burden on myself either

saoirse88

Value of land is likely to greatly depreciate over the next couple of years. 4 acres for 180,000 is also way over priced