The family pile

i.e the old home place.Small old fashioned bungalow, structurally sound, habitable, on 2 acres in scenic area 3 miles from large midland town but needs modernization, needs refurbishment if renting even if there was anyone to rent it.
No particular urgency to sell it, no mortgages, distressed family members
Sell it now for what we can get at any reasonable price within striking distance of auctioneer’s ‘valuation’ , leave it there in mothballs untill the green shoots of recovery appears and maybe just have site value,planning permission for one off rural housing in area now virtually impossible to get?

IMHO Sell now !

+1

Site values are plummeting even quicker than house prices.

I was considering building again so have been keeping an eye on things, site with FPP for nice 3000sq ft detached house in a decent area of a large midlands town was asking €300,000 in 2007 now can be had for €120,000 inc. vat and dev. levy, exc. stamp. No takers.

Site 7 miles out of town €35,000, 3-4 miles out €70,000.

Sell now, but only do so if you have the full agreement of the other family members concerned, you don’t want to bring a lifetime of whinging on yourself!

The Midlands is pretty big, in its own emptyish way, but longer term (regardless of what you decide to do with the homeplace), it’s worth knowing that the IDA has no plans to do anything in the central Midlands outside of the Gateway towns of Mullingar, Tullamore and Athlone. I heard Barry O’Leary on local radio a while back while I was passing through the area. All their development will be concentrated on those areas. If your town is Edenderry, you’re screwed. I recall him being specifically asked about it because it had lost a lot of industry at the time and he was categorical that it was off the IDA agenda. Athlone seems to be the favoured spot.