Great value for spacious property

Classes Lake home is detached with five bedrooms, Rose Martin reports

HOW often will the market offer a fine chunk of house for under €400,000? The gambling game is on as to whether or not prices will rise next year, but one thing is certain, tax relief for first- and second-time buyers runs out at the end December this year.

Mortgage Interest Relief Incentive can offer big saving for those who cleared the contract hurdle before year’s end and the relief will last until 2017 at 25% for FTBs and a not-too-shabby 15% for non-first time buyers. With a top of the range, half a million euro house, that could mean savings of more than €20,000 over the interest relief period allowed — so FTBs could be future-proofed if prices drop suddenly, which seems unlikely at this time. And with a very slight rise in mortgage lending it means more people in the property market overall, with a slight ticking over of demand.

Which is why nabbing a detached, five bed house now, with change out of €400,000 might make sense — especially for buyers to the west of Cork City.

John O’Mahony of O’Mahony Walsh is selling a fine, 2,300 sq ft house at Classes Lake for €395,000 and he has two opening offers already, but is looking for a clear strike close to the guide. It’s snug as a bug thanks to extra, retro fit insulation and it also comes with a floored, ready-to-go attic for storage.The house also has cobble lock driveway and a decent, west-facing garden at the rear.

The rooms include a family room, lounge, dining room, kitchen, utility and guest bathroom at ground floor level, with five bedrooms off a wide, galleried landing. This is a double height space which gives an instant first impression. The kitchen is fitted in off-white units, is fresh and bright and comes with a salvaged brick fire breast with cooker insert, but is the perfect size for a range cooker, Stanley or Aga. No 22 also comes with a formal lounge and family room, both with quality fireplaces, and separate dining room with oak flooring. Two bedrooms have en suite bathrooms and the master comes with mirrored robes and a jacuzzi bath.

VERDICT: Definitely one to view for trader uppers, or even, starters.