Buying a house-hidden costs?
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URL: https://forum.ybig.ie/forum_posts.asp?TID=38236
Printed Date: 25 Apr 2024 at 5:54am
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Topic: Buying a house-hidden costs?
Posted By: Trap for Pope
Subject: Buying a house-hidden costs?
Date Posted: 06 May 2012 at 5:51pm
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Looking into purchasing lads, any ybiggers make the plunge lately? Just wondering about extra costs outside of purchase price? Any1 got rough estimates on: Engineers report Solicitors Mortgage protection Life assurance Any I'm leaving out?! Had a quick sconse in google but nothing too recent, looking for first hand info, Cheers in advance,  ------------- Living for Away days |
Replies:
Posted By: daffyp
Date Posted: 06 May 2012 at 6:02pm
| 1% stamp duty |
Posted By: daffyp
Date Posted: 06 May 2012 at 6:03pm
| 10% deposit cos you wont get a100% mortgage |
Posted By: Trap for Pope
Date Posted: 06 May 2012 at 6:04pm
Cheers Daffy, forgot to list that  ------------- Living for Away days |
daffyp wrote:Posted By: daffyp
Date Posted: 06 May 2012 at 6:06pm
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Posted By: Trap for Pope
Date Posted: 06 May 2012 at 6:07pm
Got this covered thankfully, mortgage approved in principle, myself and the missus both permanent primary teachers. Keep em coming daffy!! ------------- Living for Away days |
Posted By: soccerc
Date Posted: 06 May 2012 at 6:21pm
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Buildings Insurance €300 Contents Insurance €150 - €300 TV Licence €160 |
Posted By: Sham157
Date Posted: 06 May 2012 at 6:37pm
| Land registry fees as well, valuation report |
Posted By: Trap for Pope
Date Posted: 06 May 2012 at 7:05pm
Cheers Sham, any ballparks on these? Just want to be set up before starting the process, very keen on a house at the moment...... ------------- Living for Away days |
Posted By: horsebox
Date Posted: 06 May 2012 at 7:12pm
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. ------------- It was far across the sea, When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
Posted By: horsebox
Date Posted: 06 May 2012 at 7:21pm
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I have about 20 direct debits going out all related tks my house. House insurance, life assurance, bin charges, gas, electricity, mortgage, upc , property tax, tv licensed there is others that i can't think of ------------- It was far across the sea, When the devil got a hold of me, He wouldn't set me free, So he kept me soul for ransom. na na na na na na na na na na na na na na na na na. I'm a sailor man from Glasgow to |
Posted By: daffyp
Date Posted: 06 May 2012 at 11:54pm
Both about 150 quid as far as I can remember |
Posted By: flick
Date Posted: 07 May 2012 at 12:14am
Pics? ------------- GWAN YBIG |
Posted By: Trap for Pope
Date Posted: 07 May 2012 at 1:29am
Up the yard with ya! ------------- Living for Away days |
Posted By: Sham157
Date Posted: 07 May 2012 at 12:11pm
€150 for the valuation report. Similar for the Land Registry. Also dont be bullied into taking out life cover with your mortgage provider, shop around to get the best deal. I recently changed via insure.ie saved a few quid. Same goes for payment protection. |
Posted By: Eamonn68
Date Posted: 07 May 2012 at 12:17pm
| Im an IFA and those estimates for Life assurance look very high |
Posted By: Roberto Baggio
Date Posted: 15 Sep 2020 at 12:26pm
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What would the tax implications for an Irish tax resident be of buying a property in NI? Stamp Duty (or did they do away with that recently?) a tax return on any rental income - is that it?
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Posted By: Olaf
Date Posted: 15 Sep 2020 at 2:20pm
Stamp duty has been stopped until March. If you are a first time buyer you don’t pay stamp duty until after £300,000 anyway (That may be different in NI, but it’s the rule in England) There’s ways around paying tax on rental income, PM me. You use to be able to claim your interest paid monthly against your expenses on the property. The one of doing that now is using it as serviced accommodation instead of simply a rental property, which is what I do for HMOs as then Section 24 doesn’t apply. You don’t need to declare any rental income to HMRC if it’s below £1000. Between £1001 - £2500 you must declare it to HMRC, anything more you’ve to fill in a self assessment annually. If it’s your first you should be fine from HMRC. Either way make sure you hammer expenses, that’s where most people lose money. As for capital gains tax, just live in the house that solves that, and as for stamp duty in normal times just buy something without a kitchen or bathroom. You don’t pay stamp duty on a house that’s not habitable.
------------- Some people are worth melting for. |
Posted By: NewtNewbie
Date Posted: 15 Sep 2020 at 2:55pm
| What does 'house-hidden' mean? |
Posted By: Zinedine Kilbane 110
Date Posted: 15 Sep 2020 at 2:57pm
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If the house is not habitual you won’t get a mortgage so you will need to be a cash buyer or else bring your business case to the bank and expect to pay higher financing. For stamp duty it depends if it’s your first or second home. ------------- |
Posted By: theheff1989
Date Posted: 15 Sep 2020 at 4:06pm
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And dont forget slow pricey solicitors holding everything up . |