That getaway bijou holiday home in Achill or Innishowen or West Cork
will become even more of a mill stone around the owner's neck when
increasing loan repayments and running costs begin to really bite.
Frequent visits to get away from it all will start to look a lot
less attractive when it starts to cost say, 500 miles return at 25
mpg at €5 a litre, or about €100 just to get there and back from
Dublin in the laden down rufty tufty 4WD or high performance luxury
air conditioned limo. Switching on all the electrical appliances or
running the oil fired central heating on arrival; to drive out the
damp will be an increasingly expensive option.
Many holiday homes are built on spots with great views but are
unlikely to be bought by locals as they come with little land other
than a postage stamp sized, not very fertile lawn. Many are probably
impossible to economically heat in the winter due to shoddy
construction and wind exposure.
Some may be viable for year round living but most would best be
scavenged, demolished and useful parts recycled.
VERDICT - Sell Now before the rush starts.