Donegal house a bargain at just €15k

It’s been tagged “the cheapest house in Ireland” by a US website, but other properties have gone for less than the €15,000 reserve price on a four-bedroom home in Donegal.

What distinguishes the Magheracorran property from other bargain homes is that it looks in relatively good nick while other houses in the same price range are largely derelict.

The four-bedroom detached house includes a front and rear garden and the house is just short of 1,800 sq feet.

Due for auction at the RDS next month, Robert Hoban, director of auctions at Allsop Space, cautioned that while the exterior is largely complete, little has been done internally.

“It’s a shell of a house and it will need a lot of money to make it a family home,” he said.

Mr Hoban said the house was in “quite a rural location”. It’s approximately 10 miles from Letterkenny town centre and 20 miles from Donegal town.

It’s unclear if the builder ran out of money or if it was intended as a family home or an investment property.

Open viewings of the house will be held today and Saturday, April 26, between 10am — 11am.

The house will be auctioned on May 2 with a maximum reserve of €15,000. It’s one of a portfolio of 224 properties that will go under the hammer that day, with a total value of €37m, Mr Hoban said.

While the average national house price in April was around €194,000, there are properties selling for less than €15,000. According to daftdrop.com, the lowest price in Limerick to date this month is a one-bedroom house at €10,000. The property, at Glensharold, Carrigkerry, Co Limerick, was previously priced at €8,000 when it came on the market in January 2013, but by March, it had risen to €10,000.

* For anyone interested in attending the Allsop Space auction, there is a pre-registration process, details of which will be available on the auctioneer’s website.