Getting around the Credit Crunch to own your own Holiday Home

11 July 2008

As with most sectors of the property market, the Holiday Home Market has stalled.  However, people still have the desire and the means to buy a holiday home, but lenders have all but stopped leading on second homes.  Rent2Buy.ie has a solution that cuts through the current credit crisis and offers a perfect solution for both buyers and sellers of Irish holiday homes.

Rent2Buy.ie have teamed up with forward thinking developer Finbarr O'Sullivan of LIFI Developments, offering a number of smart 3 bedroomed holiday homes in the Cois Chnoic development on the foothills of the picturesque Conor Pass and just 5 minutes from Dingle town.

The prices are from €279,000 and using the Rent2Buy.ie scheme, buyers won't have to complete the purchase for up to 3 years.  Contracts are flexible and buyers can close at any time they wish.... or not at all.  Of course, as with all other Rent2Buy.ie schemes there is a massive incentive to purchase as a large portion of the rent (€450 per month) is given as a rental credit by the developer on completion of sale of the property.

Rent on the property is €950 per month, however these units rent for €800+ per week in high season to tourists from home and abroad, who flock to the town all year round.  Investors could actually make money while still having an option to buy.  The entire years rent of €11,400 could be covered by year-round holiday lettings, while getting approx €5,000 in credit per year on completion of the sale.

Rent2Buy.ie increases buyers' confidence as it is an Independent scheme and the brand leader, the only independent scheme of its type in Ireland, legitimate in the eyes of banks and building societies with a proven track record of happy buyers and sellers.  There has been massive research and investment in the legal framework, in the brand and in the processes to make it a hassle free transaction for both the seller and the buyer.

For an up-to-date list of developments currently operating the Rent2Buy visit http://www.rent2buy.ie/ or call 1850 722 227.  Buyers can also register their interest on-line and once registered will be the first to be notified of any relevant new developments, even before the new developments are announced publically.