Buying an older property vs. a brand new property

Older Properties

• Stamp Duty is exempt for first time buyers on both new and second hand properties. However, owner occupiers and investors pay stamp duty on properties in excess of €125,000.
  
  
• There is no guarantee of structural soundness. (tip: get a structural survey to protect yourself)
  
  
• Repairs: many older properties need repairs which cost time and money.
  
  
• They are usually more expensive to heat.
  
  
• Many fixtures and fittings may have to be replaced. (e.g. kitchen)
  
  
• Suits 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.
  

Brand New Homes

• No Stamp Duty for owner occupiers on most new homes. Investors pay the same levels of stamp duty on new and second hand properties  
  
  
• New Homes are covered by 'Home Bond' or 'Premier Guarantee', which covers the property for structural soundness for 10 years.
  
  
• Houses & the rooms within them tend to be smaller than second hand homes & the gardens tend to be smaller. 
  
  
• The garden will take a few years to mature.