Back to site

©2024. All rights reserved.
Crafted by 4Property.

Top Tips for Bringing Summer into your Home

June 12, 2019 #

Kinsella Estates’ Top Tips for Bringing Summer into your Home

 

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

A Return to Rural Life

February 14, 2017 #

rural-vilage

What will the Government’s rural action plan mean for sellers in South Wicklow and rural Wexford?

Last month, An Taoiseach, Enda Kenny launched the Government’s rural action plan ‘Realising our Rural Potential: The Action Plan for Rural Development’.   This comes after a comprehensive action plan for housing and a longer term housing strategy looking forward Ireland in 2040.  That’s a lot of plans!    But what do all these plans actually mean, in real terms, if you are thinking of buying or selling a home or investment in rural Ireland over the next few years?

First things first, it has to be said that this is not just a Fine Fail/Fine Gael plan, it has the support of opposition members too, which should mean that it will live beyond the lifetime of the current government – in theory.  From the input sought across a range of voluntary bodies and organisations, and the general public, there is clearly the intention to deliver real change for people living and working – or seeking work – in rural Ireland.

The ideas behind the plan are solid; there is a general recognition that there is a massive amount of potential locked away in rural areas.  I see this myself in market towns across South Wicklow and County Wexford – there are highly skilled, motivated people who are unemployed or underemployed locally.  Also, through my work, I meet people who want to return to their home towns but cannot do this until quality employment becomes available.  And it’s not just down to employment; we have to look at the homes available, or the land that needs to be made available for development.  I understand that many rural areas, particular in the West and Midlands, are plagued by ghost housing estates that no-one wants to live in, however, here in the Southeast; there is returning demand for available new homes.  Local issues for us are more likely to be the derelict homes (with or without existing septic tanks on site) that buyers would be interested in if we could make them affordable and accessible.

The rural action plan aims to integrate existing frameworks of supports and to create new ones with the objective of increasing employment opportunities and access to public services in rural areas to increase the overall quality of life for people.

The plan involves co-ordinating and implementing a huge range of initiatives – there are 276 actions proposed – all to enhance the ‘economic and social fabric’ of rural Ireland.  These initiatives focus on rural enterprise, tourism, culture, creativity and improving infrastructure and connectivity.  It still sounds a bit vague, doesn’t it?

Here are the specifics:

  • 135,000 new jobs to be created by 2020
  • Increasing Foreign Direct Investment by 40% in regional areas
  • Rejuvenation of 600 rural towns
  • Pilot scheme to encourage town and village-centre living
  • 12% targeted increase of rural tourism
  • Acceleration of high-speed broadband in rural areas
  • Protection of vital services (like GPs) in small towns
  • 3,200 new Garda members and community CCTV

What this means for owners of vacant, boarded up commercial properties is that it might just be time to start taking the boarding down.  With grants and schemes coming on-stream to support local enterprise, vacant retail and office units will be in demand once more.  The Housing Department are currently looking at rolling out a rates alleviate scheme, which would be great for commercial landlords and tenants, but we do not yet have any details.

Of interest to owners of vacant – even derelict – residential properties, renovation grants are now available to restore properties in rural communities.  This will attract home buyers, particular returning emigrants, back to their home towns.  They can apply for a cash grant, not a tax rebate, of approximately €20,000 to purchase and renovate homes in villages and small towns.  Uniquely, this scheme will be available to all home buyers, not just first-time buyers.  It is particularly aimed at old people living alone in isolated areas, it is hoped that many will accept the benefit of this incentive and refurbish town and village-centre houses.  This makes absolute sense for most people, allowing them to feel safer and more included within the everyday activities of the community.

Also, investors might be interested to learn of the Buy & Renewal Initiative, which allows local authorities and approved housing bodies to purchase buildings in need of refurbishment for the purpose of social housing.  This will come as a timely opportunity for accidental investors, who might have inherited property but have been waiting to off-load it.

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 on our qualifying new builds.

Your Guide to the Help-to-Buy Scheme

January 17, 2017 #

gleann-an-ghairdin

Budget 2017 announced the Help-to-Buy scheme, which has proven controversial within the industry, to help intending first-time buyers to put together the deposit required to purchase or self-build their new house or apartment.

The scheme works by way of an income tax and DIRT tax refund, in respect of payments made over the previous four tax years. There are three types of applicants who can apply for the Help-to-Buy scheme, namely:  retrospective applicants or buyers whose contracts are signed between 19 July 2016 and 31 December 2016; first-time buyers whose contracts are signed between 1 January 2017 and 31 December 2019; and first-time self-build applicants building between 1 January 2017 and 31 December 2019.

Eligibility:

  1. The buyer must be a first-time buyer, specifically, the buyer must not have either individually or jointly with any other person (directly or indirectly), previously purchased, or built a property.  Where more than one individual is involved in purchasing or building a new home, all of the individuals must be first-time buyers.
  2. The house or apartment must be a new-build (may be self-built)
  3. The purchase must be dated between 19 July 2016 and 31 December 2019
  4. The property must have been purchased or built as the first-time buyer’s home and not acquired for investment purposes.
  5. The property must be occupied by the first-time buyer, or at least one of the first-time buyers in the case of multiple first-time buyers (a group), for a period of five years.

How to apply:

  • Registered for myAccount (PAYE) or ROS (self-assessed)
  • PAYE taxpayers will need to complete Forms 12 (available through ROS) for the tax years selected for refund
  • Self-assessed taxpayer will need to complete Forms 11 (available through ROS) for each of the four years immediately prior to the claim. Please not that any outstanding taxes must be paid.

    In order to apply for the scheme/refund, buyers must enter the following information online:

  • Property details including address and price
  • Details of each first-time buyer and refund agreed
  • Developer/Contractor details or
  • Details of the Solicitor if self-building
  • Upload a copy of the signed
  • Balance of the deposit to be paid
  • Contract completion date
  • Mortgage details
  • For self-builders, proof of drawdown of the first mortgage tranche payment

All details must be verified by the Developer/Contractor in the case of a new build, or by the purchaser’s Solicitor in the case of a self-build, before the refund can be paid out.

  For further details on the scheme, contact the Office of the Revenue Commissioners

 

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 on our qualifying new builds.

Behind the Scenes: Kinsella Estates interviewed by Irish Property Developer Magazine

October 27, 2016 #

 

 

 

Last month, the team here at Kinsella Estates was nominated for the Littlewoods Ireland Blog Awards 2016 and we were delighted to be shortlisted!  In fact, we are the first estate agency in Ireland to ever make the shortlist so huge thanks to the awards sponsors, organsers and everyone who voted.  We see  this as a signal of interest in property news locally and in the market generally so we are happy to share the information.

Shortly after this, we were asked by Irish Property Developer Magazine to give a behind the scenes look at how we market properties for clients in the digital era.  You can read the interview here and feel free to let us know what you think:

 

Estate Agents:  Behind the Scenes

This month Irish Property Developer met with Wicklow and Wexford-based estate agent, Michael Kinsella.  Michael continues building the legacy auctioneering practice that his father founded almost five decades ago, together with family members and a team of staff from offices in Gorey and Carnew. 

kinsellaestates.ie

                                                                                      

  1. Are the traditional marketing methods e. for sale boards, newspaper advertising etc still relevant when marketing property for sale in today’s market ?

 

I am proud to say that our family has been serving the local community for over 50 years. Through that 50 years, we have witnessed a big change in the property business in general, and even our own business model.  In the early days, for sale boards were the main marketing tool available. We would produce  a property brochure in the office, containing the basic information about the property etc. In those days there was no such thing as BER rating’s etc and the information in the brochure was very basic. Buyers would also see properties listed in the window of the office on the main street.  We would also place adverts for auctions and houses for sale in the local newspaper, which cost a lot of money back then and took a lot of time and effort.

While there is a perception that buyers only find properties online through property portal websites like Daft.ie or MyHome.ie, the truth  is that the traditional ‘For Sale’ are still very effective as a selling tool.  These boards have not changed much at all over the years. They are made of corrie-boards and wood. From an agent perspective, they are cost efficient and more importantly, very effective. In addition to attracting attention to the property for sale, they also help us maintain and promote  our brand locally.  We still use newspaper advertising but definitely not as much as in past times. Property for sale through auction will always be featured in local, and sometimes national, newspapers. We do run regular property adverts in the local paper for certain properties, many times this translates into some editorial coverage of the property in the local newspaper property features.

 

 

  1. How has digital/on-line marketing impacted on the company’s marketing communications strategy ?

 

We list all properties for sale on Myhome.ie and Daft.ie,  and both  have had a huge impact on our marketing strategy. While we are based in the South East, we get a huge amount of enquiries through the internet from people living in Dublin and Kildare etc. These sites give our company great reach to a much wider target audience.  We have recently launched our brand new website; a huge amount of resources went into doing this well because, as local estate agency, we understand the importance of showcasing our clients’ properties and attracting buyers from outside of our locality.  I studied property marketing as part of my Auctioneering Degree and I recognize how critical it is to not only have a website, but that it must be optimized for mobile use. I believe that we have to use the technology available to us, to continually improve our business. Standing still is not an option for any property business today. The marketing focus within the company continues to grow, whereas years ago marketing was just one of many functions that was carried out.

 

  1. Does the company have a mobile marketing strategy ? If so, why

 is this important?

We do have a mobile marketing strategy.  In fact, we have just launched our new website, which has been optimized for mobile usage as we recognise the growing trends away from PC and desktop  use towards mobile. The web design company that built the website, 4PM (www.4pm.ie ), also use the latest search engine optimization tools available to ensure that we are always placed high up the search rankings.  We have a number of features that we hope to roll out over the coming months, which I don’t want to reveal now, but these features will provide us with a website that will be right up to date in terms of the latest features available.  It is important also that our clients know that we have beenhere for 50 years and hope to be here for another 50 years, and the only way we will do that is by continuing to office first-class service to our clients.

 

 

 

  1. (a)Which of the following on-line/mobile marketing tools does the company use ?

 

             Mobile optimized website Yes
Search Engine Optimization (SEO) Yes
E mail marketing Occasionally
 Property portals Yes
 SMS Only with existing clients & buyers
QR codes No
Mobile Apps Yes
YouTube video platform Yes
Facebook Yes; Profile & Page
Social media Yes
Twitter Yes

 

 

We have a website optimized for mobile devices. We also use  search engine optimization. We use the property portals. We use social media and e mail marketing.  Our Social Media strategy really started to pay off  last year, when we launched a blog on our website.  All posts are circulated across our social media platforms.  This boosted our likes/followers and fans; more importantly, increased engagement gave us the opportunity to showcase our expertise across the Wicklow and Wexford markets.

 

In fact, Kinsella Estates were the only Estate Agency in Ireland to be shortlisted for an award in the Littlewoods Ireland Blog Awards 2016.  We were delighted to be shortlisted in the ultra-competitive ‘Lifestyle’  category.

 

(b) Any other ?

We do try all platforms to test and measure what works best, for us that’s the blog and our Facebook page but we are always interested in learning more!

 

  1. What are the most important marketing tools from the list above ? Why ?

 

The property portals are the most important, as I explained earlier. They provide a single market place, where we can list properties cost effectively. We know from experience how successful these sites are at delivering leads and enquiries.

 

Our website is also an important marketing tool, it also attracts a lot of visitors. It is part of our marketing strategy that  it is updated daily, and that content is kept fresh. Research has shown that visitors to a site get frustrated when a site is not updated etc. While this takes time, effort and discipline it has to be done.

 

  1. What has been the biggest benefit that the on-line/digital/mobile technologies have brought to marketing residential property for sale ?

The quality of the information that we can present on a property. We can have beautiful digital photography, property videos can now also be uploaded. Brochures can be down loaded from the internet also.  Our focus is definitely on video footage at the moment, for both the website and for our social media content.

 

 

  1. How has digital/on-line marketing impacted on relationship with vendors and customers ?

We put a huge amount of resources into marketing Kinsella Estates and marketing the properties we sell. A professional website puts us on an elevated platform with our clients and customers. It showcases our expertise, which gives our company a competitive edge in a very competitive market. Using social media allows us to reach a wider target audience and provides an opportunity to communicate with our customers.  Our clients and customers are more knowledgeable nowadays, and they have a higher expectation of the service they want. We strive to meet and surpass their needs, and we are always keen to embrace marketing methods, customer relationship managements tools that enable us to deliver better service to our customers.  We are committed to keeping up with technology and property trends; what’s good for our clients is good for the market.

 

Tips For Selling Your Rural Home

October 27, 2016 #
Beautiful rural property at Tara Hill, Gorey
Beautiful rural property at Tara Hill, Gorey

Over the last few years we got to learn a lot more about the property market than ever before.  We have websites like Daft.ie listing most properties for sale around the country together with the asking prices, we have the National Property Price Register telling us achieved sales prices and, most recently, the CSO has started including cash purchases rather than just reporting on mortgaged property transactions.  All of this is helpful, it improves transparency in the marketplace and that’s good for everyone, not just buyers and sellers but us agents too!  The only problem is that most of  the statistics are coming from the sale of town houses and apartments.  It is much more difficult for rural homeowners to gauge the value of their home and particularly if their home has lands adjoining.  For rural homeowners thinking of selling, definitely talk to us and we can let you know about recent sales, achieved prices locally and current ready buyers in the market.

For rural properties, often times, there  are fewer interested buyers but this is not necessarily a bad thing.  It can mean less time wasting as only very interested parties tend to view.  Of course, this also means that it is crucial to get the listing, marketing and presentation right from the start.  It’s a cliché that there is only one opportunity to make a first impression but it’s also true.  A disappointed house-hunter will rarely re-visit or re-consider a property that they have already ruled out just with the promise of a clean-up or painting job.

When I or any of the team here at Kinsella Estates visit a home (before listing it for sale) we will always give feedback on the current presentation and give advice on any changes or cost-effective improvements that are likely to either increase the value of the home or increase the attractiveness of the property to buyers.

When it comes to doing this suggested work, we can always advise on what repairs or maintenance are necessary or those that will generate a return.  It is not about renovating your home prior to sale, this is unlikely to ever make financial sense for homeowners.

Ways to prepare your rural home for sale is to put together area and property maps, good quality photos if you have them although we will always take professional quality images for the sales brochure, and definitely compile a list of contents included in the sale.  We will always position a rural property by giving driving distances to the next largest towns, as this helps potential buyers who might be unfamiliar with the vicinity to decide if the location works for them.  As part of our online listings, Kinsella Estates will accurately pinpoint your location on Google Street View (an interactive satellite map) so that interested buyers can find your property, also, they can get a sense of where it is in relation to neighbouring towns.

In my experience, including proximity to local schools, clubs and other facilities is helpful.  We understand that no-one knows the property as well as the owner so we will listen to what you have to tell us and then package that information for interested viewers.

While it might sound a bit unusual, I advise sellers to put together the most recent utility bills, bin collection information and any other relevant information that a prospective buyer would need to know about the running of the property.   In recent years, buyers are aware of new septic tank regulations and will certainly be looking for evidence of compliance as standard.  Internally, a clutter-free environment is the most important thing.  Neutral decor is generally a safe bet, buyers don’t mind an older or dated property provided they can see the potential and the best way to show people potential it to empty it as much as possible.  The practice of clearing your home prior to sale is not just good for presentation, it is also a great way to get a  head start on moving!

Do not underestimate the power of curb appeal; in truth, the first impression is made as the house-hunters turn into your laneway or drive.  With that in mind, keep hedges trimmed, mow lawns and most importantly, remove junk from around the house and sheds.  Potted plants can brighten up any yard so this is an easy way to improve the overall impression.  Also, give the entrance pillars a coat of paint, remove weeds and make the drive accessible for multiple cars, if possible.

Even animal lovers will panic of they are greeted by a pack of barking dogs upon arrival; please ensure that all pets are under control during viewing times.  Similarly, if you have animals in paddocks around the home, do let us know about any special precautions needed when showing people around.

Finally, because rural homes are unique, please do understand that interested buyers are likely to have lots of questions, they will want the view the property more than once and will probably take a bit longer to make a decision.  Remember this is all leading to you finding the right buyer (or letting the right buyer find you and your home!).

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

You can email me directly on michael@kinsellaestates.ie or telephone : +353 53 94 21718     

Budget 2017 for Property Buyers and Sellers

October 13, 2016 #

Property Measures Announced in the Budget

We knew in advance of Budget ’17 that housing was going to be a priority so Michael Noonan’s budget speech contained very few surprises, if any, for the sector.

budget-2017  In an earlier post, I detailed the Government’s Action Plan for Housing:  Rebuilding Ireland.  This plan sets out the housing problems to be tackled and steps that will be taken. While the issues are broken up into five categories or  ‘pillars’ they all come back to one common underlying problem, that is, the chronic lack of supply across all housing sectors from social to private to rental.  Developers and members of the construction industry have blamed the cost of building and budgetary measures were definitely needed to address this.  Unfortunately, this is not what we got on Budget Day.  Instead, we got a grant – by way of tax rebate – for first-time buyers purchasing newly built homes only.

This help-to-buy scheme for first-time buyers will give a rebate of income tax (already paid) of 5 per cent of the purchase value of a newly-built home, up to a value of €400,000. That translates to a maximum rebate of €20,000 in cash. Properties costing from €400,000 to €600,000 will qualify for the €20,000 rebate, but the scheme will not apply to homes over €600,000 in value. This is a temporary measure only, backdating to July 19th last and will run until the end of 2019. In practical terms, buyers of a new house costing €300,000 will qualify for a rebate worth €15,000, however, they will still need their €23,000 deposit (under the Central Bank rules) and they must have a combined income of €75,000.

While the rebate is designed to offset the cost of higher deposits required from first-time buyers, and in turn boost demand, it has been perceived by members of the sector as a grant to the developer. Irrespective of the designed purpose, in real terms, this is the least effective way to stimulate supply and is likely to simply increase prices for first-time buyers already struggling to afford their first home.

While the first-time buyer initiative has been deeply criticised across the industry, at least there was some attempt to address their concerns.  Those stuck in rental situations were not so lucky. At best, the help-to-buy scheme will create get a small portion on renters out of this market and into their own homes, and this should free up some rented accommodation.

 budget-2 Other Property Measures

  • Residential investors/landlords received a 5 per cent increase in their mortgage interest relief, from 75 per cent to 80 per cent in 2017 and this is expected to increase annually until it reaches 100 per cent again.
  • The Home Renovation Incentive Scheme was extended further by two years, bringing it up to the end of 2018.
  • The Rent a Room scheme had its tax-free income ceiling here has increased by €2,000 annually to bring it up to €14,000.

 

 

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

 

 

How to Speed up the Sale of your Home

March 11, 2016 #

Michael Kinsella’s top ten tips for sellers:

1. Commit to selling – Make decision, know your bottom price

This might sound strange but often times people bring their home to the market, not really sure if they want to sell or whether now is, in fact, the right time. This is always a recipe for disaster. Uncommitted sellers tend to value their own home disproportionately high, they are generally not accommodating when it comes to viewings and not flexible when negotiations start. There can be no winners in this scenario so the best advice that I can give would-be sellers to to do their research, then make a decision and stick to that decision unless circumstances change. The main challenge of being an uncommitted seller is that if when you finally make the decision to accept any offers, the buyers might be gone. Second changes are rare in a recovering market.

2. Know your buyer

Once the decision to sell has been made, it’s important to figure out who your buyer is likely to be as this will help to determine pricing and targeted marketing. In most areas outside of Dublin, there is very little overlap between the types of property that a home-buyer (first-time buyer or those trading up) or and investor will consider. Budget plays a part in this but the other considerations are property type i.e. house or apartment, or location i.e. town, country or outskirts of town.  Knowing who your buyer is likely to be makes marketing the property more straightforward and increases relevant enquiries quickly.

3. Price it right

Property valuation is actually quite different to pricing a property to bring to market. There has to be some element of strategic thinking involved. Depending upon the local supply and demand, it might make sense to start at a lower price to garner as much interest as possible from as many different buyers as possible. The higher the number of bidders, the better chance of achieving a strong price.  On the flip side of that, it is important not to price too low so that prospect buyers are put off by some perceived ‘flaw’ or reason for the cheap price. This is particularly true when it comes to home buyers, who often equate price with value i.e. a higher price means better quality, but this is not always true.

4. Present it well

I mentioned earlier that there are no second chances and this is always true for first impressions.  It can be tempting just to bring your home to the market as is just to ‘test the marketplace’, with the intention to carrying out any upgrading works if and when they are needed. My best advice here is to resist this temptation. As a general rule, home buyers will not revisit a property they have already viewed and ruled out due to lack of appeal. The one exception to this is a substantial price drop but this is a very costly mistake to make. You really do only have one chance for your home to make a good first impression, don’t blow it for lack of a coat of paint!

5. Carry out necessary work

Following on  from my point above, if a property needs clearing (most do) and a fresh lick of paint, do it prior to coming to the market.  Similarly, small fixes like cupboard doors with loose hinges or dripping taps should be rectified before starting viewings. It is amazing the tiny details that house-hunters focus on when viewing a property. Quality fittings, like new door handles and freshly varnished door/doorstops will generate a positive feeling with potential buyers. I am not suggesting that you need to rip out your bathroom but a new set of mats might just help.

6. Neutralise the decor

Too many home-owners are confused about the difference between a property with character and a property with the owns personality stamped all over it. Character is good, excessive personality – usually demonstrated by shocking pink bedrooms or nude art painted in the bathroom – will rarely help home buyers imagine their own future lives in the home. There is a time and a place for tasteful minimalism and selling your home is both the time and the place.

7. Get the best photos

Now that you have your home looking great and de-personalised, it’s time to capture it in its best light. Even great properties need great photographs to make them stand out on-line. The trick here is not to try photograph the entire room in one shot but rather showcase beautiful features that would be lost in a wide room shot. Help potential buyers find the beauty in your home.

8. Timing isn’t everything, but it helps!

In the past, property was relatively seasonal in that there were quiet times and busy times; however, since the property crash and as the market recovers, seasons have gone completely out of the window.  It is true that investors and ready buyers will buy at any time. Having said that, home-buyers, particularly those with school-going children will generally start looking to the market in March/April time for a summer move. This is a great time to launch a family home on the market to a captive audience.

9. Be flexible

The most frustrating part of selling your home is that you can do everything right and still the right buyer hasn’t come along. If you find yourself in this position, it is worth re-evaluating the price, presentation and marketing of the property. While it is a cliche to say that you only need one buyer (provided that it is the right buyer!) this is true. Remaining flexible gives your property the best chance of sale.

10. Eliminate legal delays

Finally, have title deeds taken up (if with your mortgage lender) and have them delivered to your conveyancing solicitor prior to sale agreeing your home so that contracts can be prepared and ready for when the right buyer (and the right offer) comes along. This will give your solicitor the opportunity to spot and resolve any legal issues, and essentially to pre-empt any queries that the purchaser’s solicitor is likely to raise, before they become a cause for delay.

Remember that all-important ‘curb appeal’ to tempt buyers in.

The importance of local knowledge in property

March 2, 2016 #

With all the general election campaigning over the past few weeks, and  today as we are going through the final rounds of vote counting, it strikes me that politics – like property – is all local. The strongest, most popular and (we have to believe) most  hard-working politicians in each constituency  wins. What has changed in the last few decades is the party system; candidates locally win locally, not simply by being a member of any political party. This is because as the world is getting smaller due to better information systems and technology, the reality is that people continue live in one area (at a time!) and that’s where their priorities lie.

I am not a politician but I do know property and I know the south east region. And because of this I know that when you are thinking of buying or selling your home, it pays to think local. While the media talks about ‘the’ property market in Ireland, every frustrated seller or house-hunter knows that there are many different markets operating in every county in Ireland. The marketplace locally is measured by supply and demand but it can be a bit more complicated than this. For example, when we talk about supply, are we comparing like with like?  Rural versus urban, size versus location, houses versus apartments… All these distinctions make up genuine supply. Similarly, when we try to gauge demand locally, we have to consider the cash buyers versus mortgaged buyers, investors versus home-buyers, even experienced home-buyers versus first-time buyers.

While it is true to say that every home for sale needs only one buyer, the financial reality is that several bidders are required to really test the value of a property and to ensure that that value is achieved.

This is where a local expert comes into their own. Not all sellers are in the same position and not all buyers are equal. To avoid time wasting, a clued-in local agent can attract genuine buyers to the right property and introduce enough competition to have the sale move along, in order to achieve the right price in a reasonable time frame. As you might imagine, this is difficult to do with only one bidder!

The best way to make this happen is by maintaining a database of ready buyers and keeping this updated. Here at Kinsella Estates, we dedicate time and attention to buyers, we stay in touch with them. By doing this, we already have a good idea of who the likely buyers might be when we take on a new property for sale. In any given area, there is a finite number of suitable, finance-ready buyers.  We make it our job to know them.

And this is particularly true for commercial property. Whether you are buying or selling, looking to lease or rent out your commercial premises, knowing your local market of consumers is the main test of how well a commercial unit can be sustained in any given area. On a given street in any large town, there will always be buildings that are more in demand than others just 100 yards away (similar to residential neighbourhoods!). By not knowing the area well, valuations can be way off and that’s never good news, for buyer or sellers.

With the relatively high level of vacant commercial property around at the moment, sellers need to know who is buying, and buyers need to have their own use for the property or be able to attract the right tenant in the right type of business. There is no doubt that commercial property requires a bit more ‘juggling’ or keeping more balls in the air than most residential transactions, but this is where the local knowledge comes into play. This probably explains why anecdotally, 30% of all commercial property is transacted off-market, which means that it never appears on property websites like Daft.ie and MyHome.ie but is available.

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

Privacy Policy

Pagespeed Optimization by Lighthouse.