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Help needed re buying house in Forest Hill, Carrigaline, Cork

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  • 06-07-2014 3:23pm
    #1
    eyeoweewe
    Registered Users Posts: 5 ✭


    Hi, hopefully someone who has some information on this will be so kind as to help me. I am looking to buy in the Carrigaline area and visited this estate to view a showhouse unit. They look nice and the guy from the building company quoted me 220 k for the smallest (105m2) which is the one I would want. When I looked on the property price register the same houses have recently enough been sold for 165k /175k. I realise the market has picked up a bit but not that much. Has anyone any idea of how much wiggle room for negotiation there is now?
    Thanks


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    #2
    ABajaninCork
    Closed Accounts Posts: 8,411 ✭✭✭ABajaninCork


    Offer only what you think it's worth. You know what similar houses have sold for. So offer only that.


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    #3
    L1011
    Moderators, Business & Finance Moderators, Motoring & Transport Moderators, Society & Culture Moderators Posts: 67,697 Mod ✭✭✭✭L1011


    As these are new builds, you need to add VAT to the PPR prices - the 164,350 there is an actual sale price of 186,500 basically.

    Still a bit of a difference to 220k but that's a more realistic price to go for.


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    #4
    TheDriver
    Registered Users Posts: 12,393 ✭✭✭✭TheDriver


    Also you need to check what exactly was included, maybe you're getting tiling, appliances, bigger area etc


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    #5
    OSiriS
    Registered Users Posts: 1,657 ✭✭✭OSiriS


    Those houses were being advertised for around 185k last year. Since the new year the asking price has been steadily rising, with 5-10k add every couple of months.

    The impression I've gotten is that the estate is still under construction. They build a couple more and sell them before repeating. There is enough demand for them to keep raising the price. If that is the case, I would expect a lower offer to be rejected, since some prepared to meet the asking will be along soon afterwards.


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    #6
    Eldarion
    Registered Users Posts: 484 ✭✭Eldarion


    Looks like the madness has spread from Dublin to Cork and Galway finally. I imagine they're putting in 220k as the guide price now, but wouldn't be surprised to see those go for a bit over 200k these days. I get the feeling if you offer your 180k and get rejected you'll be back here in six months complaining that the asking price is 240k.

    I hate buying into fear but you've definitely "missed the bottom" for this market. You're not going to see the prices you saw on the PPR again unless something really drastic happens to the market. Offer what you think it's worth, if it's not accepted you need to start looking elsewhere. Not much else you can do here.


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    #7
    eyeoweewe
    Registered Users Posts: 5 ✭eyeoweewe


    Thanks alot for all the replies. Very valid point about the vat. I never thought of that but it makes good sense. I see what you mean about missing the bottom of the market. Fair comment.


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    #8
    eyeoweewe
    Registered Users Posts: 5 ✭eyeoweewe


    Report back for potential buyers. I'm in the house now but let me warn you, the construction company (Astra) have been very difficult to communicate with during the process of buying. They were obstructive in relation to the issues of fixing snags also.. Highly frustrating at times. You need to have alot of patience to do this.


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