Insurance costs off-putting for potential buyers says auctioneer
Published 25/11/2015 | 02:30
Auctioneer John O'Connell of GVM in Limerick has first-hand experience of thatched houses, both professionally and as an owner.
He's currently the selling agent of a thatched property (pictured left) at Churchview in the picturesque village of Adare, Co Limerick.
They rarely come on the market and in his 15 years as an auctioneer, this is the first one he's had on his books.
Despite a lot of interest in the house, the practicalities of owning and living in a protected structure are putting people off.
"It went on the market in February and we've had about 80 viewings and it has exceeded its reserve of €225,000," he said.
"The big selling point is the area. People want Adare because of its character and heritage.
"But when they go away and do the sums, they realise it's a lot more expensive than they thought," he said.
"The big thing at the moment is trying to get insurance on it. It also needs some work but the cost of insuring it and even getting a quote is driving this up further."