Gorey town was awarded the “Regional Category Winner” for 2019 at the Bank of Ireland National Enterprise Town Awards.  The awards were held last week at Lyrath Estate Hotel in Kilkenny and the awards recognise the spirit of enterprise in local areas across Ireland, bringing business and community groups together to showcase their efforts to build an economically sustainable community. The annual awards are now in their fourth year and have been a huge success. 

Kinsella Estates are proud to be situated in the well-established and wonderful town of Gorey. It is a place that is bustling with a great sense of community spirit which obviously, helped in its drive to win such a coveted award. Well done to the locals who showcased the best of Gorey and worked together when the judges visited the town a few months ago.  The judging panel were treated to a guided tour of the town which showed the local community as well as the tremendous businesses that Gorey has to offer. 

The awards are competitive and for Gorey to win such an honourable prize shows how hard our communities work and the standard of shops, facilities, amenities and businesses in the area. This award signifies a huge boost to the town, especially as we head towards a busy time of year and one that is magical and enjoyable. 

Other regional winners on the night included, Rathcoole, Dundrum, Tallaght, Adare, Cahir, Kinsale, Ennis, Borris, Bagenalstown, Kilkenny, Belmullet, Carndonagh, Tuam and Sligo, which each of the winners winning cash prizes of €3,000. According to thinkbusiness.ie, since the inaugural awards in 2016, more than 100 towns, urban areas and villages across the country have shared €500,000 in funding to invest in their community. This year 107 towns and villages from almost every county nationwide submitted entries. Kilkenny emerged victorious from close to 70 communities around Ireland and was named the overall winner of the Bank of Ireland National Enterprise Town Awards 2019.

Well done to all the winners but especially to our wonderful town of Gorey!

For a full list of the winners check out thinkbusiness.ie here

Full details are here.

For your FREE, no obligation, valuation in the South Wicklow and North Wexford area, call into one of our offices (located in Carnew and Gorey) and chat to any of our expert team or you can contact us online at www.KinsellaEstates.ie. We are happy to facilitate overseas buyers and sellers via Skype or similar, outside of regular office hours.  Alternatively, email me directly on michael@kinsellaestates.ie or telephone: +353 53 94 21718

Full details here.

For your FREE, no obligation, valuation in the South Wicklow and North Wexford area, call into one of our offices (located in Carnew and Gorey) and chat to any of our expert team or you can contact us online at www.KinsellaEstates.ie. We are happy to facilitate overseas buyers and sellers via Skype or similar, outside of regular office hours.  Alternatively, email me directly on michael@kinsellaestates.ie or telephone: +353 53 94 21718

Full details here.

For your FREE, no obligation, valuation in the South Wicklow and North Wexford area, call into one of our offices (located in Carnew and Gorey) and chat to any of our expert team or you can contact us online at www.KinsellaEstates.ie. We are happy to facilitate overseas buyers and sellers via Skype or similar, outside of regular office hours.  Alternatively, email me directly on michael@kinsellaestates.ie or telephone: +353 53 94 21718

We are very proud to offer to the market this very attractive 4 bedroom detached residence at 138 Meadowgate which extends to 124 sq mt / 1334 sq ft. This property which was built in 2007 to a very high standard of specification has been done up to show house condition throughout. Meadowgate is one of the most sought after developments and is conveniently located within walking distance of Gorey town centre and close to many amenities including Gorey Shopping centre, restaurants, schools, pubs and many other amenities.

  There are many myths and misconceptions when it comes to selling property and, while most of it is harmless, it can be frustrating for sellers when they experience the realities of the market. For that reason, it is always better to have real information that is credible and current in order to avoid these little mix-ups, both on and offline!  If you are selling your home or even just thinking about it, it is vital to have the right information. The property marketplace can be a difficult for many reasons; however, being armed with the right information and realistic expectations will make the process easier to manage. Here we discuss some of the common market myths and debunk them:

 

“There’s no such thing as market value!”

 

Contrary to the property selling myth, in addition to property’s location, size and condition, the eventual selling price will invariably be subject to market conditions.  While some vendors may hold the opinion that their home is worth  ‘X’ amount, they may be unfamiliar with local market conditions or unaware of current buyer trends that are likely to impact the value of their home. There is no magic involved in valuing properties and assessing local supply and demand, the only  expertise is experience.

 

“We have more experience selling homes in one week than most homeowners do in a lifetime and we use all that experience and expertise to  benefit you.”

 

Of course, we understand that every home is unique and a big part of our job to spot those special features so that we can then communicate them to potential buyers – the right buyers.

 

“Overpricing property works wonders!”

 

Let’s nip this one in the bud straight away, overpricing does not work.  Sellers often ask us to list their property well in excess of the valuation we provide on  the basis that they will accept a lower offer.  It is my job to point out that doing this will dramatically decrease the likelihood of having any offer at all! Typically, overpricing a property has the opposite effect.  It is much more likely to discourage would-be buyers from viewing your home. Estate agents can do a lot but even we cannot sell to a buyer who won’t view the property.

Even if you reduce the house a few months later, seasoned house-hunters will be familiar with it online and will have already ruled it out.  Offering a substantial reduction on your home within months of first listing will have prospective buyers wondering what is wrong with it. Home buyers today, even inexperienced first time buyers, are savvy and well-researched.

 

“Overpricing a property leads to negotiation!”

 

The fundamentals of negotiation are having two parties present to hopefully arrive at a mutually agreeable outcome. However, you are likely to struggle to get a 2nd party to that negotiation table if your property pricing is wrong. Overpricing will not lead to serious negotiation.

 

 “Don’t accept the first offer!”

 

This is a very old myth that assumes once you hang on or wait, a better offer will come along. Be wary of the friend who offers up this woeful advice.  With the property market as it is, a genuinely good offer could be overlooked while you try and hold out for a better one. In the meantime, your prospective buyer/current bidder is still viewing other properties and putting bids in, therefore, by the time you realise that offer was great, they may have moved on to another property and a vendor who recognised the opportunity.

 

“You have to speculate to accumulate!”

 

You may be told that new kitchens or stylish bathrooms will encourage selling but often, you won’t make back what you spent for the hassle incurred. As a general rule, stick to ensuring the property is clean, tidy and that everything is in working order. Everyone has their own personal preferences and remember to stage the property smartly.

 

Finally, use all the resources at your disposal, from family offers of storage to mortgage broker introductions, but be mindful of the advice you accept, especially when it is unsolicited.

 

For your FREE, no obligation, valuation in the South Wicklow and North Wexford area, call into one of our offices (located in Carnew and Gorey) and chat to any of our expert team or you can contact us online at kinsellaestates.ie. We are happy to facilitate overseas buyers and sellers via Skype or similar, outside of regular office hours.  Alternatively, email me directly on michael@kinsellaestates.ie or telephone: +353 53 94 21718

Last chance to buy in the current phase

With the supply of new homes running low across the South East, it won’t surprise local house-hunters to see that only one house remains available in the current phase of Riverchapel Wood.
6 The Parade, Riverchapel Wood is situated within walking distance of the scenic Courtown Harbour and many leisure attractions. This developement has proven popular with both homebuyers and investors, with returns almost as attractive as the views!

Number 6 is a spacious three-bedroom semi-detached house in excellent condition throughout, with a bay window and double doors leading onto the rear garden;  Asking price €137,000.

For more details on the property, check out the listing on :- http://www.daft.ie/wexford/houses-for-sale/courtown/6-the-parade-riverchapel-wood-riverchapel-courtown-wexford-1354836/

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at kinsellaestates.ie .  Alternatively, you can email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718 to arrange a viewing.

Formerly known as the PRTB, the (now) RTB, or Residential Tenancies Board, is the registration body for all residential tenancies – private and social i.e. local authority and approved housing bodies in Ireland.

Originally, under the Residential Tenancies Act 2004 and now under the Residential Tenancies (Amendment) Act 2015, all landlords must register all residential tenancies with the Residential Tenancies Board (RTB).

What landlords need to know:

The RTB acts as an independent body to help monitor and regulate the residential rental sector. Primary functions are as follows:

• To enforce the Residential Tenancies Acts 2004-2015
• To provide dispute resolution between landlords (both housing bodies and private landlords) and tenants
• To maintain a database of tenancies in Ireland
• To use and share that data for the purposes of research

The RTB supports both landlords and tenants, although that is not always perceived in the marketplace. It can get involved in issues such as antisocial behaviour or non-payment of rent.

Costs:

There is a registration charge of €90 per tenancy. Landlords who fail to register within the prescribed time can be fined up to €3,000, and or face up six months imprisonment.

The Acts do not apply to the following types of rented property:

• Business lettings
• Holiday lettings
• Formerly rent-controlled dwellings or long-occupation lease tenancies – separate legislation applies to them
• Owner-occupied accommodation (for example, if you rent a room in your landlord’s home)
• Dwellings in which the spouse, parent or child of the landlord lives. This applies to informal family arrangements where there is no tenancy agreement in writing. However, the Acts do cover formal agreements between family members, for example where a lease has been signed
• Social housing provided by local authorities (though, as noted above, the voluntary housing sector has been included since 7 April 2016)

Part 4 of the Residential Tenancies Act 2004 (which deals with security of tenure) does not apply to:

• Employment-related lettings – these are sometimes called ‘tied’ houses as they are tied to the job and you must leave the dwelling when the job ends, and
• Section 50 student accommodation (pdf)
• Tenancies in a landlord’s home in a flat or apartment that was originally part of the main house, where the landlord has chosen to opt out of the provisions of Part 4

As a landlord, if you require any information about registering with the RTB or if you have any questions about rent reviews or tenancy termination, please contact me directly on Michael@KinsellaEstates.ie 

For specific queries or to speak with a local property expert about your buying and selling needs in Wexford, Wicklow and surrounding areas, contact Michael, Alan or Eileen Kinsella at kinsellaestates.ie .  

This week’s blog post is an extract of the Irish Property Buyers Handbook 2015, by Carol Tallon, dealing with the structural survey:

THE STRUCTURAL SURVEY
Why it is important and what to expect

The structural survey is a comprehensive inspection of the property in question, carried out by a qualified surveyor, registered architect or chartered engineer at the request of the potential home-buyer. It should not be confused with the lender’s survey, which in reality is merely an independent valuation report. The purpose of the structural survey is to give the purchaser an unbiased evaluation of the overall condition of a property, and to highlight any aspects that may need upgrading, repair, replacement or ongoing maintenance. Crucially, the report arising from the structural survey will provide the buyer with the information needed to make an informed decision on whether to go ahead with purchasing the property.

Unlike the bank survey, which is mandatory, a structural survey is optional, although any property professional would advise that the buyer undertake one before making the single, biggest investment of their life. Undertaking this due diligence and attaining the knowledge of defects or issues needing attention may discourage buyers from proceeding with the purchase outright, or may help to plan for work that is likely to be necessary in the short and medium term. Armed with this survey, the buyer should save a significant sum of money on defects that the seller may now have to correct before the sale is agreed. Knowing the cost of even small repairs, which can run to thousands of euro, can be a great negotiating tool. Aspects of the property that are routinely checked in the course of structural survey are as follows:

External Areas, Internal Areas, Other

1. Roof and chimneys
2. Guttering and flashing
3. Settlement cracks
4. Movement in foundations
5. Windows and doors
6. Drainage
7. Boundaries
8. Path and driveway
9. Interior attic space
10. Ceilings and floors
11. Interior walls
12. Windows and doors
13. Heating system
14. Plumbing and Electrics
15. Working fireplaces
16. Ventilation and damp
17. Insulation
18. Compliance with Building Regulations
19. Boundary infringements
20. Boundary conditions

There are some limitations to the survey, which may vary from one survey to another. Buyers will be made aware of these limitations by the surveyor, either in advance of the survey or within the report document. If there is any ambiguity, buyers are advised to seek clarification and not to assume anything. The most notable limitations tend to be as follows:

1. Roofs and chimneys in excess of three metres generally will be examined from ground level.
2. The building fabric will not be breached in the course of the inspection. The survey is strictly on the basis of what is visible or accessible.
3. Plumbing and heating systems will be activated where connection permits, but will not generally be tested unless there is reason to suspect a problem.
4. Sewers are inspected to the extent of lifting covers on manholes. Once again, testing will only be recommended where there is some reason to suspect something.

The age of the building to be surveyed is a very important consideration. Buyers should not be fooled by a modern, well-finished home. The age is no guarantee of a sound structure. In fact, many experts maintain that the overall quality of new home construction over the past decade has deteriorated somewhat. Older houses have their own particular issues to contend with – for example, non-regulation windows or access – but they are generally well-constructed. When looking at the structural condition of the property, the engineer will pay particular attention to defects that are inconsistent with the age of the property. The engineer will issue a full report to the buyer, which will set out areas of the property needing attention and make recommendations.

Defects or areas needing attention may cause a re-negotiation of the purchase price. In addition, defects that are inconsistent with the age of the house should flag concern. For example, if the engineer finds a hole in the roof of a modern, three bedroom semi-detached house, a question mark may arise over the quality of the property. On that point, some buyers in the past have chosen not to request a structural survey where the house in question is less than 10 years old and covered under the original structural defect insurance scheme, usually HomeBond. This is nonsense. Protection against defects for 10 years is of little benefit if the buyer cannot identify those defects.

It should be noted, however, that very few buildings are without any defects. The surveyor will furnish a lengthy report, many pages long, that will list observations, opinions and recommendations on issues that would not necessarily be classed as defects, so buyers should be prepared for this and not panic. When issues or possibly defects are identified, it does not necessarily mean that it is not a quality property. The buyer must work through the surveyor’s report and determine which issues are consistent and to be expected, which issues are easily remedied and which issues are essentially deal-breakers. Whatever the outcome, knowing in advance is essential – forewarned is always forearmed.

Engineers’ fees may vary, depending on the age and extent of the property, together with the location, or specifically, the time and travel involved. A survey generally will take between one to two hours. Buyers should expect to pay somewhere in the region of €300 to €450 plus VAT. If the buyer is waiting to sign contracts of sale, the engineer usually will give a verbal assessment of the property on the day of the survey – the equivalent to a thumbs up or thumbs down. The written report generally will issue within a period of five days. By engaging a suitably qualified surveyor with professional indemnity insurance, buyers are assured that they are covered in the event that they suffer financial loss as a result of neglect, error or omission in the course of producing the structural survey.

Snag List

A snag list will be necessary for buyers purchasing a newly-built home. It is not a structural survey, as discussed above, but rather a checklist of minor defects that the builder or developer must complete prior to the sale closing. The vast majority of newly-built properties are covered by a building guarantee or under a structural guarantee scheme, such as HomeBond or Premier, which protects the occupant of the home against specific significant defects for a period of 10 years. This protection applies to the property, not the owner; therefore, subsequent buyers will enjoy this protection for 10 years after the completion of the building.

The snag list consists of all the items that must be finished or fixed by the builder or developer before the sale is finalised. Builders have a poor reputation for after-sales service, so it is crucial that all outstanding items are dealt with before final monies are paid over. In certain circumstances, the sale might be allowed to proceed on the stated agreement of works to be carried out, but this leaves the buyer in a vulnerable position and is therefore not recommended. An exception to this might be the Irish weather causing huge delays in finishing the garden to specification. In this instance, the purchase might go ahead and close contracts subject to a small portion of the funds being withheld from the builder until such time as the garden works are completed.

As with the structural survey, a snag list is not mandatory, although it should definitely be regarded as essential by the new home-owners. Snag lists do not need to be carried out by a professional in order to be effective. In fact, some of the most comprehensive lists are carried out by the buyers, although engaging a professional engineer or surveyor has a number of benefits. Chiefly, their training and expertise suggests that they will uncover minor faults or needed finishing touches that the buyer might never have noticed. Secondly, they are likely to demand a higher quality finish than buyers might know to demand. Thirdly, buyers receive the benefit of professional indemnity insurance, as already discussed above. If any issue or defect is overlooked at the snagging stage, it may cost money to remedy it. By hiring a professional, that person is answerable to the buyer for any work carried out. Buyers who have some experience in construction or who have purchased property previously might feel confident about compiling a thorough snag list themselves. If so, there is now a wealth of information available through Irish and UK websites, where buyers can read tips, learn from other buyers and download comprehensive DIY snagging checklists. One good resource is www.snagging.org. If there is reason for concern, however, buyers should speak to a qualified engineer.

New Technologies

It is important to note, in the context of a survey or snaglist being prepared, that building, heating and electrical systems have become very complex with the introduction of renewable energy systems such as heat recovery units, ground source heat pumps and solar panel heating to name a few. It may be necessary to engage the services of a specialist to report on the conditions of such works in addition to the structural survey.

KEY POINTS FROM CHAPTER 17

•  The structural survey is an inspection of the property in question, carried
  out by a qualified surveyor for the potential home-buyer.
•  It is not to be confused with the lender’s survey, which is merely an independent valuation report.
• The purpose of the structural survey is to determine the condition of the property and to highlight any aspects that may need repair, replacement or ongoing maintenance.
• The structural survey will provide the buyer with the information needed to make an informed decision on whether to go ahead with purchasing the property.
• The buyer should be aware that older properties have inherent structural issues and these rarely will be considered deal-breakers. Buyers should be concerned about issues that are inconsistent with the age and price of the property.
• Further negotiations may take place to deal with issues arising from the report but only if they are inconsistent with the age and price of the property.
• A snag list consisting of all the items that must be finished or fixed by the builder or developer will be necessary for buyers purchasing a newly-built home.