Stamp duty: First time buyer but may never live there...

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animha

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I am considering purchasing an apartment which will not be ready for at least 12 months. I am a first time buyer, but would I have to live in the apartment for 5 years if I was to be eligible for reduced stamp duty?
For example, the value of the apartment is 480k, will I have to pay the full 7.5% if I don't plan on living there for the full 5 years?
 
Hi animha,

Unfortunately, you will have to live in the apartment for the full 5 years if you want to avail of reduced stamp duty. Otherwise, you will have to pay the difference between what you did pay and the full whack at the time you leave it.
 
You could sell it within 5 years without paying stamp duty but if you rented it out you would be liable for the stamp duty clawback
 
According to the Revenue website, there is a clawback where the owner occupier rents within a 5 year period, but not if they sell (I think). So does this mean that if I bought now and then sold without renting there wouldn't be a clawback on the stamp duty?
 
animha said:
So does this mean that if I bought now and then sold without renting there wouldn't be a clawback on the stamp duty?
Click to expand...
Only if you are genuinely buying as an owner occupier.
 
What does genuinely mean, would I ever have to live there or could I just sell as soon as the property is available (12-24 months away)
 
Your place of residence is where you reside. If you live somewhere else you cant call it your residence. I guess its down to intention if you sell within say six months of the building being ready. I assume that you would state that you had intended living there but of course you lose all your first time buyers privelages so way that up as well.
 
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