Fledgling buyers will fly the family nest for Elm Park

The €315,000 price tag on 122 Elm Park makes it an ideal starter home.

Cautious first time buyers will happy to know it is exempt from stamp duty. In the Wilton area of Cork, it is close to the city centre.

STAMP duty changes or reductions, if they ever happen, won’t have any impact on 122 Elm Park on Sarsfield Road, in Cork’s Wilton suburb, as its modest price means it won’t attract any duty for first time buyers.

At a time when many fledgling buyers leaving family nests are going miles and miles out of Cork city to buy starter homes, affordable options can still be had in the suburbs, says Peter Skuse of Cahalane Skuse.

He seeks €315,000 for no 122, a three-bed terraced home built 22 year ago by Fitzgibbon Brothers.

“It is a product of its time; functional, practical and in an excellent location, now with gas central heating. These houses have stood the test of time,” says Mr Skuse.

Though the rising cost of borrowing has installed necessary caution, Mr Skuse still puzzles over first time buyers holding back waiting for stamp duty reliefs, as second hand properties under €317,500 are exempt, as are new homes, in general.

“Just because everyone else is looking at the fence may not be good enough reason for one person not to make the leap. To buy or not to buy may be the question. The answer is that, in 10 years time, property like this will have doubled in value, so stamp duty isn’t an issue,” he comments.