Buying a property + costs

H

Hattrick

Registered User
Messages
11
Hi there
I have been overseas for a number of years and I am thinking of returning home. I was looking at buying a house but wondering what has changed since I have left
When buyinig ahouse what are the costs involved? I have a rough idea but don't know what the rates are
sale price of house
+ vat @ ??
+ stamduty @ ??
+ legal costs
+ any pre inspection costs e.g. valuation/builders
Then on running the house what are the charges?
property tax @ ??
water charges/tax @ ??
There is also rubbish bags/ wheely bin and heating/electricy/oil costs but that is not new and is pretty much as was
Have I got all that right? can someone confirm the rates for the various costs ??


There is also the new taxes on salary/pension which I am not too sure of if someone could confirm. But maybe i'll put that in another thread...

Thanks
 

stamduty @ 1%
legal costs @ approx. 3k maybe a bit less
any pre inspection costs e.g. valuation/builders @ surveyor and engineer for structural advice maybe €500
Property tax based on value, google "LPT"
 
Are legal fees tied into the size/price of the property, or is it fairly flat across the board?
 
Kai123 said:
Are legal fees tied into the size/price of the property, or is it fairly flat across the board?
Click to expand...
Legal fees by a lot of legals quoted as 1% of value plus VAT plus outlays (searches etc)
Most good practices will do better than the above.
 
DCD said:
Legal fees by a lot of legals quoted as 1% of value plus VAT plus outlays (searches etc)
Most good practices will do better than the above.
Click to expand...

That's great to know! I'm looking at apt's at around 120k - 150k in Dublin 15, and have been saving up 3k for all the paper work. Between that and UB's 1.5k payback on legal costs, I should be good to go for this summer! I'm waiting on a payrise before getting a mortgage-in-principle.
 
tks for the replies.

How do you find the valuation of a property to find out what the property tax will be for that address?
the best I could do was this https:__lpt.revenue.ie_lpt-web_views_login.html?execution=e1s1
but you seem to need the unique id per address.
Is there anywhere I can type in the address and it gives me the valueation and the property tax?

ah found it here https:__lpt.revenue.ie_lpt-web_valuation-guide_index.htm
but it only gives a rough guide for a whole area
 
On LPT, you will only find that out at contract stage.

From experience, when LPT was introduced, property values were a good deal lower than currently. So, when someone is selling, it is for the parties to appraise whether the value adopted was reasonable and can be justified

See the quite complex rules in this link

http://www.revenue.ie/en/tax/lpt/sale-transfer-property.html

If looking at property, your starting point for LPT should be to assume that the LPT is payable at or near the current asking price. I am finding that, if there is a big discrepancy between the valuation and the sale price, a vendor can seek specific clearance from Revenue or just re-value and pay the new rate - which may mean paying more for the earlier years as well.

mf
 
You must log in or register to reply here.
Menu
Log in
Register