Second home or trading up

I bought a property with my brother.

The property is currently worth 180K but I would like buy my own place now.

How will stamp duty affect me.

Would I be better buying a site and building on this. has this any implications with stamp duty.

I have to move from the area that we origionally bought so I would prefer to have my own place now.

Buying together now seems to be causing problems as houses where I am moving to in the region of 350K so i would have a hugh stamp duty bill all because I am regarded as a property owner based on my share of a house.

milo said:

How will stamp duty affect me.

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You are not a FTB so you may be liable for SD if you buy a new house over 125sqm or a second hand house over €127K.

Would I be better buying a site and building on this. has this any implications with stamp duty.

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I presume you pay SD on the site purchase but as far as I know not on a self build property itself. Seems like a lot of hassle to go to to avoid SD?

Buying together now seems to be causing problems as houses where I am moving to in the region of 350K so i would have a hugh stamp duty bill all because I am regarded as a property owner based on my share of a house.

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New builds are exempt from SD for FTB or non FTB owner occupier buyers.

I am in construction so I have no problems taking on a self build project.

based on the above, I could possibly buy a old house and develop it.
Or buy a site and pay stamp duty on the purchase of the site.

No problem getting the mortgage for a new house but it would take several years to get the funds together to pay the stamp duty.

You should get independent professional advice on your potential SD liabilities in any specific situation but the key issue here is that you are not a FTB as far as SD is concerned.