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Rural family home in need of major renovation sells for €116,000 above asking amid housing crisis

Rural family home in need of major renovation sells for €116,000 above asking amid housing crisis

The demand for family homes in Ireland has skyrocketed over the past few years as demand far outweighs the supply.

Homes that are placed up for auction often far surpass the auction guide price, however, as many struggle to find their forever family homes and competition is rife.

This was recently seen when a rural five-bed home hit the market , attracting a bidding war between hopefuls, and landing the sellers a casual €116,000 extra for the sale - despite the condition of the property.

Bidding started at €250,000 for the Galway home, and managed to go for a boosted price of €366,000 after a lengthy list of offers.

The rural house with a scenic coastal location in Kinvara was nabbed by the lucky house hunter after a two-hour bidding war.

Rural family home in need of major renovation sells for €116,000 above asking amid housing crisis

Although the property is in need of a face lift by the new owners, the spacious layout and vast amount of land (.5 acres) make it the perfect place for a family.

According to a description provided by the seller, “This property provides a detached five bedroom house with gardens to the front and rear.

“The property is arranged over ground and one upper floor beneath a pitched roof.

“We are informed that the property extends to approximately 2,271 sq. ft.”

The detached five bedroom house is in need of a lot of refurbishment, but has rooms of ‘generous proportions’ and is located around 36 minutes from Galway City.

The bidding war kicked off at 8:05 am on December 11, 2021, and ended at 10:15 am on the same day with the final bid after many offers.