Home Buyers Guide

Chapter 4: Choosing the Right Property

Step 3: Decide if you’d prefer a new or second hand property:

There are pros and cons of buying a brand new home or an older one. Here are a few things to consider:

Older Properties

• Unless you’re a first time buyer, you’ll have to pay stamp duty on second hand properties in excess of €125,000.

• There is no guarantee of structural soundness when you buy a second hand property. In fact, even if the seller
knows that the property has subsidence or is in need of structural work, they don’t have to tell you. Make sure you get a structural survey completed before you buy.

• Many older properties need repairs which cost time and money.

• They are usually more expensive to heat. Ask the estate agent for a copy of the Building Energy Rating Cert,
which outlines how energy efficient the house is.

• You may need to replace or update a lot of the fixtures and fittings. (e.g. kitchen & bathrooms)

• Older homes suit DIY’ers best.

• The rooms and gardens of older homes are likely to be bigger than those built in the last decade or two.

• The garden is likely to be more mature than a garden in a new home.

• If the property is a ‘listed building’ (i.e. one that is deemed to be of historic or architectural importance), you must
seek permission before doing almost anything, even painting it.

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