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Buying a house-hidden costs?

Printed From: You Boys in Green
Category: Other Forums
Forum Name: Whatever!
Forum Description: Anything else going on
URL: https://forum.ybig.ie/forum_posts.asp?TID=38236
Printed Date: 31 Oct 2020 at 10:54am
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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
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,



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YBIG, Bray Wanderers,Clare CLG, Munster,IRFU & AVFC

Get Behind O'Neill's All-Ireland



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
Originally posted by daffyp daffyp wrote:

1% stamp duty


Cheers Daffy, forgot to list that

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YBIG, Bray Wanderers,Clare CLG, Munster,IRFU & AVFC

Get Behind O'Neill's All-Ireland


Posted By: daffyp
Date Posted: 06 May 2012 at 6:06pm
Originally posted by Trap for Pope Trap for Pope wrote:

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= 300 quid
Solicitors 2000-2500 shop around
Mortgage protection 40 quid per month
Life assurance 60 quid per month

Any I'm leaving out?! Had a quick sconse in google but nothing too recent, looking for first hand info,

Cheers in advance,



Posted By: Trap for Pope
Date Posted: 06 May 2012 at 6:07pm
Originally posted by daffyp daffyp wrote:

10% deposit cos you wont get a100% mortgage


Got this covered thankfully, mortgage approved in principle, myself and the missus both permanent primary teachers. Keep em coming daffy!!

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YBIG, Bray Wanderers,Clare CLG, Munster,IRFU & AVFC

Get Behind O'Neill's All-Ireland


Posted By: soccerc
Date Posted: 06 May 2012 at 6:21pm
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
Originally posted by sham157 sham157 wrote:

Land registry fees as well, valuation report


Cheers Sham, any ballparks on these? Just want to be set up before starting the process, very keen on a house at the moment......

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YBIG, Bray Wanderers,Clare CLG, Munster,IRFU & AVFC

Get Behind O'Neill's All-Ireland


Posted By: horsebox
Date Posted: 06 May 2012 at 7:12pm
.

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Posted By: horsebox
Date Posted: 06 May 2012 at 7:21pm
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


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Posted By: daffyp
Date Posted: 06 May 2012 at 11:54pm
Originally posted by sham157 sham157 wrote:

Land registry fees as well, valuation report

Both about 150 quid as far as I can remember


Posted By: flick
Date Posted: 07 May 2012 at 12:14am
Originally posted by Trap for Pope Trap for Pope wrote:

and the missus



Pics?

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GWAN YBIG


Posted By: Trap for Pope
Date Posted: 07 May 2012 at 1:29am
Originally posted by flick flick wrote:

Originally posted by Trap for Pope Trap for Pope wrote:

and the missus



Pics?


Up the yard with ya!


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YBIG, Bray Wanderers,Clare CLG, Munster,IRFU & AVFC

Get Behind O'Neill's All-Ireland


Posted By: Sham157
Date Posted: 07 May 2012 at 12:11pm
Originally posted by Trap for Pope Trap for Pope wrote:

Originally posted by sham157 sham157 wrote:

Land registry fees as well, valuation report


Cheers Sham, any ballparks on these? Just want to be set up before starting the process, very keen on a house at the moment......


€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
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?


Posted By: Olaf
Date Posted: 15 Sep 2020 at 2:20pm
Originally posted by Roberto Baggio Roberto Baggio wrote:

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?

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.


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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
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.



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Posted By: theheff1989
Date Posted: 15 Sep 2020 at 4:06pm
And dont forget slow pricey solicitors holding everything up .




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