Best way to invest?

R

revbelfast

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If anyone could help with advice in my specific situation I'd really appreciate it. I'm a FTB who intends to buy in Dublin, probably an apartment. I won't live in the apartment but rent it as I get a house with my job. I've so many questions with knowing what's best to do. Here's a few of them!

- Do I qualify for FTB stamp duty even though I intend to let out?
- Do I have to pay tax on my rental income or is there some sort of relief on that?
- Is an apartment a good buy-to-let investment? At what price of apartment am I likely to get as close as possible with rental return? i.e. should I buy a less expensive apartment in bad area or just go for location?
- Appreciation on property isn't so much of a factor, I wouldn't intend to sell for years and years.
- Are there areas which are known to be really good for a one off buy to let?
- Do banks apply different rules on how much they lend to buy - to - let customers than owner-occupiers? Do they take into account that rent will pay some of the repayments? A 20% deposit shouldn't be a problem, I have money saved but my wife and I don't have a huge joint income.

If anyone has any advice in any of these areas I'd be so grateful.

Thanks so much.

JackinTheBelf
 
revbelfast said:
- Do I qualify for FTB stamp duty even though I intend to let out?
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No, you'll have to pay investor rates. You'll also loose your FTB privileges such as higher mortgage interest relief, lower rates of stamp duty, etc.
revbelfast said:
- Do I have to pay tax on my rental income or is there some sort of relief on that?
Click to expand...
You will have to pay tax on your rental income. You can make deductions such as mortgage interest and repairs, etc.
Yes, you'll need to get a Buy To Let mortgage, which has slightly higher interest rates than homeowner mortgages. The loan-to-value ratio also tends to be slightly lower.
 
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