Where can I get advice on self-build?
Q My dream is to build a small holiday/ retirement home in the countryside as a long term renovation/self-build/self- financing project – I’m giving myself five years. Is there any good source of advice on finding a site and then building? I don’t see any point going to an estate agent, as I am essentially looking for something very cheap, remote and in poor condition.
AIt's surprising, given the state of the market, how pricey some dilapidated rural properties still are. If you've already started tracking prices you'll have seen that some properties in rural areas have been on the market literally years without any significant price drop. That said, you won't really know the price until you find a property and get into negotiation – whether that is with an estate agent or directly with the owner. Your first task is to pinpoint the general area in which you want to buy and then spend weekends driving around looking, both at properties that are on the market and dilapidated ones that aren't but that, if you can find out who owns them, might be open to offers. Start following Derek Trenaman's entertaining and informative blog on myhome.ie – he's doing pretty much exactly what you want to do and he's detailing every step of the way. It's very good. His project is in Sligo and his build started in September. In his latest post he's pouring the slab. He gives very practical information in every posting. He talks about how he went about finding his tumbledown cottage and the year and a half of negotiations with the owner. Also look at selfbuild.ie – it publishes a good magazine showing examples of projects in Ireland and it organises self-build exhibitions, (the next one is in Galway in May), where exhibitors show the latest technologies, give talks, etc.
Does anyone give switch deals now?
Q We want to switch mortgage providers. In a previous house we switched and our new lender provided us with a “switcher pack” that included a €1,000 cheque to help with the costs (mostly legal) of switching. Looking at the various lenders’ websites I am having difficulty finding out who offers such incentives and what they now are.
AOur guess is that you previously switched mortgages sometime in the middle of the last decade when lenders were desperate to get new mortgage business and were tripping over themselves to devise new lures to get homeowners to sign up. Now mortgages are a deeply unattractive business for lenders and they are more likely to find ways of not offering you a mortgage, no matter how well set up you are. The last lender to stop offering an incentive to switch was KBC who ended its €1,000 bait at the start of this month. It's worth repeating that if you have a tracker, don't switch no matter what incentive you find – even if that incentive comes from your current lender. A new lender will not give you anything like the favourable terms you now enjoy.
Your questions
Send your queries to Property questions, The Irish Times, The Irish Times Building, 24-28 Tara Street, Dublin 2 or e-mail propertyquestions@irishtimes.com. This column is a readers’ service and is not intended to replace professional advice.
