December is flying by,

"Choosing Your Irish Home: New Build or Retrofit?"

In today's Irish housing market, you have two main choices: buying a brand-new house (new build) or updating an older one (retrofit). This decision is more than just about where you live. It’s about modern living and caring for our environment.

New Builds: What Are They?

New builds are fresh, modern homes. They are built with the latest designs and are good at saving energy. In early 2023, Ireland saw more new homes being built, especially apartments (not a drop in the ocean of what is needed though). These homes are ready to move into with new features and require less fixing in the beginning.

Retrofits: What's That About?

Retrofitting means making an older home better, especially in saving energy. The Irish government helps homeowners do this by offering money to help cover costs. This way, you can keep the old charm of a house but make it more modern inside.

Which Costs More?

New homes might cost more to buy but save you money on bills and repairs later. Retrofitting can be expensive at first, but it can make your house worth more and help the planet. This is not a hard and fast rule either. We have all heard of budget overrun in building projects and scope creep…

Thinking About the Environment:

Both new homes and retrofits in Ireland are becoming greener. New homes follow strict rules to be kinder to the environment. Retrofitting old homes also helps by making them use less energy.

What’s Happening in the Market?

The Irish government has plans to make homes more eco-friendly. This might mean more people will choose to retrofit homes. Remember, the rules and trends can affect what kind of homes get built and where. The reality is there is a complete disconnect between the planning process and what development is like on the ground. Risks are high, time kills all deals & more needs to be done to facilitate building. This is another article entirely so I will save you the rant!

Check out this interview I had with an architect a couple of years ago

Three Simple Tips:

1. Think About What You Want: Consider what you like, what you can afford, and how you want to help the environment.

2. Look for Financial Help: Check if there are grants or financial help for retrofitting.

3. Get Advice: Talk to experts to understand more about new builds and retrofits.

In Summary:

Whether you go for a new home or update an old one, each choice has its pros and cons. Think about what's important to you and your impact on the environment when deciding. Check out the grants available but not all are what they appear to be so check, check and RECHECK your options!

ALSO:

Our property buying course is now live and it will:

1. Give you a plan

2. Help you communicate

3. Save you time

4. Help you lose weight (not really but I wanted to see if you were paying attention!

Until next week,

Andrew

Your property advisor & all round good guy

References:

- Central Statistics Office. "New Dwelling Completions Q1 2023." [CSO, 2023](https://www.cso.ie/en/index.html)

- Government of Ireland. "Government launches the National Retrofitting Scheme." [Gov.ie, 2023](https://www.gov.ie/en/)

- Mason Hayes Curran. "Ireland’s Climate Action Plan – 2023 Update." [MHC, 2023](https://www.mhc.ie/)

Questions? Send me a message: