Hi,
I will be moving to Dublin and need to buy a house. I currently know very little about Dublin and there are uncertainties about where exactly I will be working etc. So, ideally I would like to move quickly and buy a house just to give me a temporary base to get a feeling for the city and then as soon as I know exactly what type of house and what area would be appropriate for me I would sell this initial house and buy my desired one. In some countries though buying property can be a very costly and complicated process so I am wondering what is the situation in Ireland? Would it be a costly mistake if I buy a temporary house to give me a base-of-operations and then sell it in 6 months time because I find it is completely unsuited to my needs? What I am asking here is what are fixed transactional costs, I have no interest in fluctuations in house prices as obviously these can't be predicted. So, from my own googling I have found the following costs:
1. Legal fees (conveyancing etc), some sources say these are fixed, some say they are a percentage of the purchase price ? Can anyone say for sure which it is ? If it is a %age, what is the typical % ?
2. A survey. How much would this typically cost ?
3. Stamp Duty. This is 1% for houses < 1 Million €, is this correct ?
4. When selling, there would be the additional cost of an estate agent, what is the typical cost of this service ?
5. ?? Any other costs I have missed ?
So basically I am trying to make sure that it would not be a costly mistake if I just buy a random house in Dublin to get myself settled in the country and get a feeling for the city, before selling that house a few months later to buy one that I really want.
Thanks
M.
I will be moving to Dublin and need to buy a house. I currently know very little about Dublin and there are uncertainties about where exactly I will be working etc. So, ideally I would like to move quickly and buy a house just to give me a temporary base to get a feeling for the city and then as soon as I know exactly what type of house and what area would be appropriate for me I would sell this initial house and buy my desired one. In some countries though buying property can be a very costly and complicated process so I am wondering what is the situation in Ireland? Would it be a costly mistake if I buy a temporary house to give me a base-of-operations and then sell it in 6 months time because I find it is completely unsuited to my needs? What I am asking here is what are fixed transactional costs, I have no interest in fluctuations in house prices as obviously these can't be predicted. So, from my own googling I have found the following costs:
1. Legal fees (conveyancing etc), some sources say these are fixed, some say they are a percentage of the purchase price ? Can anyone say for sure which it is ? If it is a %age, what is the typical % ?
2. A survey. How much would this typically cost ?
3. Stamp Duty. This is 1% for houses < 1 Million €, is this correct ?
4. When selling, there would be the additional cost of an estate agent, what is the typical cost of this service ?
5. ?? Any other costs I have missed ?
So basically I am trying to make sure that it would not be a costly mistake if I just buy a random house in Dublin to get myself settled in the country and get a feeling for the city, before selling that house a few months later to buy one that I really want.
Thanks
M.