From what you've posted it looks as if the purchase price will be c.E465K so yes a first time buyer would pay less stamp duty. But are you intending to borrow? Is it your actual intention to benefit your child? Do you want to retain beneficial ownership of the property? Be sure of what you want to do before going down the road of putting an asset in anyone elses name. Plus Revenue take the view that if any portion of the purchase price ( including borrowings) is provided by a non f.t.b. then non f.t.b. stamp duty rates apply.
A very realistic valuation of fixtures and fittings may be accepted by Revenue - but nothing outrageous. If the effect of separately valuing the fixtures and fittings, brings the property price below a stamp duty threshold, then be aware that Revenue will seek payment of stamp duty at the higher rate applicable on the combined higher amount but payable on the property price only.
mf