Hi Folks
My parents are leaving me the house when they pass away. It could be worth anything between 400k and 500k depending on the market. I am living with them and on disability allowance.
My question is if i decide to sell the house for lets say 400k and buy a new house for 200k in a different area that is cheaper (maybe a town for example) will the remainder of the money left (200k in this case) be counted as means? It says on the website that: "The proceeds of the sale of the house up to €190,500 may not be taken into account when assessing your means if you sell your home and: Move to alternative accommodation (you can either buy or rent)."
Does that mean that i would still get my disability allowance whilst being able to keep the 200K left over without any reduction in my disability allowance?
Its all so vague on the website and hard to understand.
thanks in advance.
My parents are leaving me the house when they pass away. It could be worth anything between 400k and 500k depending on the market. I am living with them and on disability allowance.
My question is if i decide to sell the house for lets say 400k and buy a new house for 200k in a different area that is cheaper (maybe a town for example) will the remainder of the money left (200k in this case) be counted as means? It says on the website that: "The proceeds of the sale of the house up to €190,500 may not be taken into account when assessing your means if you sell your home and: Move to alternative accommodation (you can either buy or rent)."
Does that mean that i would still get my disability allowance whilst being able to keep the 200K left over without any reduction in my disability allowance?
Its all so vague on the website and hard to understand.
thanks in advance.