Which is precisely what Paddy Power, owner of Aillenacally village, did back in 1991.

"My wife died and I was left to rear my small daughter by myself, so I decided it would be much easier to do it somewhere quiet and rural, " explains Power, who purchased the deserted village on 65 acres of land, comprising just eight cottages and six other derelict structures.

"We lived on a boat on the site, and although my daughter had a 38-mile trip to school each day, it was worth it. It's such a beautiful area and it was a wonderful place for her to grow up, and she definitely wouldn't have had the same quality of life if we'd stayed in the city suburbs, " says Power.

But with his daughter now grown up and working as a vet in Kilkenny, Power feels it's time to move to somewhere smaller and more manageable.

"The village has so much potential. It could make a fantastic site for a holiday village or luxury country hotel or holiday centre for a charity. In fact, it would make a great nudist colony, as it's so secluded, " laughs Power.

Prior to Power living in Aillenacally, the village, which is 50 miles from Galway city, had remained deserted for many years, with the last resident closing the door behind them in 1940 before taking the boat to Cleveland, Ohio, according to the records.

And since then little has changed in this rugged enclave.

Believed to be one of the oldest coastal villages in Ireland thought to be inhabited by the Vikings, the village includes 14 dwellings, including eight cottages and another six derelict buildings, all of which are south-east facing.

But while it's definitely a rural idyll, the village has a history of real hardship. Local records reveal that a famine in 1831 almost depleted the village and surrounding area, with 1,200 families reduced to near starvation and disease. The famine of 1845 reduced numbers even further through a combination of death and emigration. And in the years that followed, younger generations continued to move away in search of better lifestyles.

A mile and a half from the Toombela Road and three miles from Roundstone, the village is approached by a rough hardcore track. Sitting on 65 acres, Aillenacally village also has a one-fifth share of 226 acres of commonage on which there are grazing rights.

Incorporating a half-mile of frontage onto Cloonnile Bay, a sheltered inlet protected from the wind by Inishnee island, Aillenacally is home to an abundance of wildlife including corncrake, grouse, teal, widgeon, along with otters, foxes, badgers and seals. Over 200 types of wildflowers have been recorded here including wild orchids. The property also fronts onto Toombela Lake, and two small harbours are also included, along with the owner's boat.

However, quaint as it is, the village is largely derelict, although some restoration work has been carried out on three of the cottages, with one of them currently used as a tea-shop for visitors. Phone lines have also been installed and mains water is around 1.5 miles away on the road.

"Some work has been done on the village, but there's still plenty to do for the next owner, " says Power.

Price: 1,4m Agent: Key Properties 027-50111