At Nestor Shanahan Auctioneers we believe the best property purchases are rarely about finding the cheapest home on the street. They are about finding the one that offers the most for the money. Two houses in the same estate can have similar asking prices yet very different long-term value once you look beneath the surface. Knowing what to look for can help you spot the gem that others overlook. Here are five signs a property may offer better value than similar homes nearby.
1. The price compares well with recent sales
Start with the numbers. The Property Price Register, run by the Property Services Regulatory Authority, lists the prices at which homes have actually sold, not just what they were advertised for. Look up recent sales on the same road or in the same estate and compare them with the asking price of the home you are considering. The register does not record size or condition, so it is worth working out a rough price per square metre using floor areas from listings and brochures. A home that sits below its neighbours on this measure, without an obvious reason, deserves a closer look. Your auctioneer can also share insight into how recent sales compared with their original asking prices.
2. A stronger BER and lower running costs
Two homes may look identical from the street, but if one has a C3 BER and the other a B2, the difference in heating bills over the years can be substantial. Upgrades such as wall and attic insulation, modern windows, a heat pump or solar panels add real value that is not always fully reflected in the asking price. A better BER can also open the door to green mortgage rates, which a number of Irish lenders offer for homes with higher energy ratings. When comparing homes, factor in what it would cost to bring the weaker one up to the same standard.
3. The expensive essentials have already been done
A new kitchen catches the eye, but a new roof, rewiring, replumbing or a replaced heating system may be worth far more to your budget. These are the costly, disruptive jobs that few buyers want to face in their first year. Ask the vendor what major works have been carried out and when, and request receipts, guarantees and certificates where available. A home where the unglamorous work is complete can represent excellent value compared with a similarly priced neighbour that looks smarter but hides an ageing boiler and original wiring.
4. Dated décor hiding solid foundations
Some of the best-value homes are the ones other buyers walk away from too quickly. Swirly carpets, heavy wallpaper and a tired bathroom can put people off, even when the structure, layout and location are excellent. Cosmetic issues are usually the cheapest and easiest to fix, and a home that needs updating rather than rebuilding can offer real scope to add value. Always commission a proper survey to confirm the fundamentals are sound, but don't let a dated interior blind you to a property's potential.
5. Features that cannot be copied
Some advantages simply cannot be added later. A south-facing back garden, a larger or corner plot, a position away from a busy road, open views or a spot at the quiet end of an estate all set a home apart from its neighbours. So does genuine potential, such as room to extend, an attic suitable for conversion or a garage that could become extra living space. If similar extensions have been approved nearby, that can be encouraging, although every application is assessed on its own merits. When a home offers these permanent advantages at a price close to its neighbours, it is often the better long-term buy.
How to be sure you are comparing like with like
Value is always relative, so make sure your comparisons are fair. Compare homes of a similar type, size and age, and note differences in extensions, parking, garden size and condition. Consider how long a property has been on the market, as a home that has lingered may offer room to negotiate, although it is worth understanding why. Most importantly, rely on your survey and your solicitor to confirm that what looks like good value on paper holds up in reality.
Tips for sellers
If your home has any of these advantages, make sure buyers can see them. Share your BER clearly, gather paperwork for major works and highlight features such as orientation or plot size in your listing and photographs. Buyers are more likely to pay a fair price when the reasons your home stands out are clearly explained.
The bottom line
The best value is not always the lowest price. It is the home that combines a fair price with lower running costs, fewer hidden expenses and permanent advantages that will continue to reward you for years to come. Taking the time to compare carefully can put you in a far stronger position when it comes to making an offer.
If you would like to discuss buying or selling a property, contact us on 061 415337 or email info@nestorshanahan.ie or visit nestorshanahan.ie.
Disclaimer: This article is based on publicly available information and is intended for general guidance only. While every effort has been made to ensure accuracy at the time of publication, details may change and errors may occur. This content does not constitute financial, legal or professional advice. Readers should seek appropriate professional guidance before making decisions. Neither the publisher nor the authors accept liability for any loss arising from reliance on this material.
