Buying holiday home in Dunmore East?

[elainem]

I'm thinking of buying an holiday home/retirement pad in Dunmore East - I know that whole region really well from holiday there since I was a child. Just wondering does anyone think it's a mad idea or what pitfalls they see. I have kids who really enjoy the sailing and Adventure Centre there, and I have always loved that area - even after all the holidaymakers have gone. The house is in a development of 40 houses - half are owner occupied and the remainder are holiday homes. The houses have a C1 Ber rating unlike a lot of the other holiday homes there. Would really welcome any thoughts positive/negative.

 

[Dermot]

I do not know Dunmore East well enough to comment on it nor can I speculate on whether house prices will go up or down.
How much of the year will your family be using it.
There are costs other than routine maintenance as follows.
LPT
High Insurance and this will be restricted as there will be more than 30 day continuous occupancy gaps.
There will be water charges.
There maybe minimum electricity charges every two months.
There could be management fee charges for the estate.
There could be security issues even in a quiet estate where a property appears vacant for a long time
It could be cheaper to take a medium term rental option.

 

[Bronte]

Just wondering does anyone think it's a mad idea or what pitfalls they see. .

Dunmore East is absolutely dead in winter. There is a problem with the sewage system as far as I know. It's fantastic in the summer. Great buzz and great food, lovely weather, lovely place. But not in winter.

 

[Thirsty]

Best idea I've seen re retirement (and one I hope to follow if I make it that far!) Would be to sell up family home, buy decent 2 bed apartment and plan on spending the winter months in a long term off season rental in Spain or similar location while I have the health to enjoy it!

Moving to a remote location, away from major hospitals; where you have to drive to get a pint of milk and little public transport at the very time of life that you need these things seems mad to me...

 

[Bronte]

Best idea I've seen re retirement (and one I hope to follow if I make it that far!) Would be to sell up family home, buy decent 2 bed apartment and plan on spending the winter months in a long term off season rental in Spain or similar location while I have the health to enjoy it!

Would be on the same wavelength as you, but have come to the conclusion that I might be better off on a long term winter rental. They have very low rates in Spain just to fill the empty properties. So have a look at that instead of buying.

I agree with you in relation to hospitals. The health system in Spain is apparently really great, but you might want to return to Ireland if you are very decrepid, and I think based on what I've seen of the Brits, they tend to head home when they get very old, and have had a very hard time of it due to Spanish property values plummeting and not able to find a way back into the UK property market.