RENT NOW buy later is the unusual marketing pitch at a new homes scheme in Kenmare, Co Kerry, where prices start at €235,000. Heather Park is a scheme of 22 new homes which forms part of the larger Pairc na Gloine development on the Sneem road beside the Kenmare Bay Hotel.
Three-bed semi-detached houses at the scheme cost from €235,000. Developer Philip O'Connor Construction is now offering seven houses on a rent-to-buy basis in a bid to attract young buyers who are having difficulty saving for a deposit while renting. This is an opportunity to start "making your rent work for you and not your landlord", says agent Suzanne Teahan at Sherry FitzGerald Daly in Kenmare.
The developer has fixed a rent of €850 per month on the houses, which is deductible from the purchase price of the house after three years. In addition, the builder is offering an additional discount of €5,000 off the purchase price if the house is purchased after one year and a discount of €2,500 if the house is purchased after two years.
