Buy in inner city and avoid daily commute

INNER city properties are popular among first-time buyers: they are convenient, cute and affordable.

The downside is that the location often attracts the investor and the ensuing bidding war usually ends with a steep learning curve for the starry-eyed first-timer.

What seems cheap to begin with becomes more expensive with the addition of stamp duty and the cost of repairs to what invariably is an old house. In the case of 14, Parkowen, which is located off Summerhill South on the south of Cork city, most of the repair work has been done and the price has only increased by €5,000 on the guide price of €240,000.