Spending over £2m to buy a house and rebuild it (in NI)

Imagine that you had found your dream location for a house. Uninterrupted views of a lough.

You’ve paid £700,000 over the £1.15 million guide price at an auction for the property.

And now you’re planning to knock it down to rebuild a new property!

A madcap scheme? (Thanks to BBC News for bring this story to a wider audience.)

I suppose if you’re rich enough to pay £1.85 million for the Warrenpoint site overlooking Carlinford Lough, and then a further £500,000 for a new build, then you’ll have the patience to wait at least a year (for planning and building) before you need to move in, and have somewhere else to live in the meantime.

More money than sense? Or a perfectly sane use of your resources? I’m not quite sure.