Large garden adds site value to four-bedroom house

At Ballyshoneen, Waterfall, Co Cork for €495,000.

YOU’RE buying into the future with this house in Waterfall. Not only do you get a four-bed, two-bath house, but it also comes with an acre of garden, offering at least one site in the long term. This site could provide a handsome settlement for children, or space for a retirement home at a later stage.

That’s probably the reason why Property Partners O’Mahony Walsh are asking €495,000 for this Co Cork house, at Ballyshoneen, Waterfall. With prices dropping, this is pitched on the amount of land attached.

The location is minutes from Ballincollig and Bishopstown, and the new road network gives fast access to Cork city. So it’s ideal for commuters and with self-build restrictions it’s the only way ‘outsiders’ can move into the area.

With the existing dwelling, there is the option to extend. However, the house does come with the requisite amount of space for houses at this level.

A year ago, it would have been a safe bet that the property be bought for site value, with the prospect of demolition in favour of a more magnificent dwelling.

Now, that brand of grand thinking has been firmly quashed and even those with substantial funds are minding their few bob.

Hence, this Ballyshoneen house should remain to be remodelled, with the asset value of the land counted in as a long-term investment.

More in this section

Lunchtime News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up

Our Covid-free newsletter brings together some of the best bits from, as chosen by our editor, direct to your inbox every Monday.

Sign up