Apr 19, 2011

Costs Involved in Buying a House in Ireland

The housing market in Ireland has been struggling for the past couple of years - but now that prices have fallen back to more affordable levels - we take a look at other house purchase costs in Ireland.

The  2011 Budget - introduced a stamp duty rate of
1 per cent for properties up to the €1 million mark, and 2 per cent on amounts over €1 million
With stamp duty rates previously  as much as 9 per cent - that means big savings for second time buyers.  (First time buyers are not so happy because they were previously exempt)

A property with a stamp duty bill in 2010 of  €100,000  will now incur stamp duty of  just  €20,000.

Other fees for home buyers include solicitor fees ,  legal fees  and surveyors fees.

Conveyancing costs have dropped - the typical cost of conveyancing on domestic properties ranges from  €900 to  €1,200 plus Vat .
Outlays are charged on top - these includes land registry costs and search fees.
Search fees are usually about  €100 and land registry fees can be anything from €56 to €556 depending on the property

Surveyor fees in Ireland  start at €250 for a basic one rising to €1,000 for full structural surveys.

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