Home Buyers Guide

Chapter 4: Choosing the Right Property

Brand New Homes

• While first time buyers are exempt from paying stamp duty on both new and second hand homes, non first timers aren’t so lucky – they have to pay stamp duty on all second hand properties costing more than €125,000.

However, they are exempt from paying stamp duty on most new homes. So if you’re not a first time buyer, buying a brand new home will reduce the upfront costs considerably.

• First time buyers who are having problems getting mortgage finance from the banks, may qualify for a mortgage
under the governments Home Choice Loan Scheme. This scheme is only available for people buying brand new
properties.

• Most new homes are covered by 'Home Bond' or 'Premier Guarantee', which insures the property against
structural defects for 10 years.

• Houses built in recent years tend to be smaller than older homes.

• Gardens tend to be smaller than gardens in older homes and they’ll generally take a few years to mature.

• New homes are usually in walk in condition, whereas second hand ones may require a lot of work.
Step 4:

What to look for when viewing properties:

• Take plenty of notes about the pro's and con's of the property. Look at the interior and exterior.

• Are the gutters in good shape or are they damaged?

• Is the driveway in good condition? Is there enough parking space?

< Previous Page | Next Page > | Contents Page | Download the Full 127 Page Home Buyers Guide

Search the Home Buyers Guide using Google: