No capital gains tax if it is your principal residence
Crinken Lodge back on the market asking 395k this time. Seems to have been improved much more this time around so considering that and the general market change in the last five years, I think this is more move on/break even territory than a flip. My theory is that no one can tolerate the motorway noise for more than a few years.
One to give flippers everywhere a bad name (should the vendor achieve anywhere near asking)
Galtrim Lodge appears on the PPR in July 2018 having sold for €150K. Back on the market now for €475K. This remarkable markup turns positively meteoric when you realize it’s 88 odd sq m. wasn’t even extended upon!
Any kind of practiced eye would see the cost-cutting (5 ton of Ballylusk gravel hastily dumped in the back garden, PVC windows, general cheap-as-chips fitout). But why advertise the fact by hanging a BER F around it’s neck?? It would have taken virtually nothing to crank it up to a chilly BER D. Is there even attic insulation in the place?
Happened to pass by Galtrim Lodge. I now suspect the price is vendor rather than estate agent generated. The location is awful: sandwiched between the Wicklow Wolf Brewery-ette (with trucks pulling up outside the straight-to-street bedroom windows - something testified to by Streetview) and some kind of commercial premises on the other side. A family could easily find a proper 3 bed semi in a very nice part of Bray for that money. And it doesn’t really have the secure, quiet setting a trader-downer would be looking for either.
In a flatlining market, this one will languish, methinks.
Not unexpectedly, a price drop of 40K on this. It’s not going to stop there methinks…
In global flipping news from the far side of the other side…