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Investment Property Queries - 2 bed house in home town

  • 07-11-2005 3:54pm
    #1
    Mike_Hunt
    Registered Users, Registered Users 2 Posts: 119 ✭✭


    Ok I was thinking of buying a 2 bed house in my home town (I now live in Dublin). This would be my first house. I am a renter. I can't afford a house in Dublin but I think buying one and renting it out in my home town would be a good investment.

    So, what I need to know is how will this affect my taxes?

    I would be looking to do this with a 100% mortgage - is this a bad idea?

    What are the implications if I want to accept rent allowance from tenants.

    Oh and 2 bed house prices in the area are approx €175k


Comments

  • #2
    bleary
    Registered Users, Registered Users 2 Posts: 495 ✭✭bleary


    You will not qualify as a 1st time buyer in this case as you will be buying as an investment property
    You will be liable for stamp duty and you will be taxed on the rent as income .
    You need to live in the property to qualify for rent a room scheme and first time buyer stamp duty exemptions etc .


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