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Second time buyer new house primary residence

  • 25-09-2006 01:59PM
    #1
    Psygnosis
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭


    Am I rigt in thinking if I purchase a New Build house I dont have to pay stamp duty. It will be my primary residence as I will sell my own place.
    Is this correct


Comments

  • #2
    grumpytrousers
    Registered Users, Registered Users 2 Posts: 1,884 ✭✭✭grumpytrousers


    depends on the size. if it's smaller than 125m sq, then it's exempt. if it's bigger, then you pay full rate on the greater of either the site value or the full price depending on whether the house is newly built and there, or 'about to be built'...


  • #3
    Psygnosis
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭Psygnosis


    Ok
    So if i buy a house for 390K 1100SQ Feet and sell my own I wont pay any stamp duty.

    So if i buy a second hand one for the same I pay 6% is this correct


  • #4
    grumpytrousers
    Registered Users, Registered Users 2 Posts: 1,884 ✭✭✭grumpytrousers


    ker-azzy as it may seem, i think you're right; the idea is to encourage people into new houses, built in observance of building regulations and the like...

    page 8 of this http://www.revenue.ie/leaflets/sd10a.pdf should tell you all you want to know. You fall into the Owner/Occupier bracket. Contrast difference between 2nd hand house (full rate) and the others...


  • #5
    Victor
    Registered Users, Registered Users 2 Posts: 78,652 ✭✭✭✭Victor


    grumpytrousers wrote:
    ker-azzy as it may seem, i think you're right; the idea is to encourage people into new houses, built in observance of building regulations and the like...
    No, its simpler than that. There is VAT on new buildings.


  • #6
    grumpytrousers
    Registered Users, Registered Users 2 Posts: 1,884 ✭✭✭grumpytrousers


    Victor wrote:
    No, its simpler than that. There is VAT on new buildings.
    and that. obv. :D


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  • #7
    Psygnosis
    Registered Users, Registered Users 2 Posts: 1,485 ✭✭✭Psygnosis


    can u confirm this is the case


  • #8
    Conar
    Registered Users, Registered Users 2 Posts: 1,644 ✭✭✭Conar


    Check out the government website:
    http://www.oasis.gov.ie/housing/buying_a_house_or_flat/stamp_duty.html?search=stamp+duty

    "Owner-occupiers of new houses/apartments are exempt from stamp duty, provided that the area of the house or apartment does not exceed 125 sq. metres (1,346 sq. feet) and a Floor Area Compliance Certificate has been issued. The house or apartment must not have been occupied prior to its purchase. It must be occupied as the owner's main place of residence for a period of five years from the date of the purchase deed. However if you sell the house during this period you do not have to repay stamp duty."


  • #9
    Lex Luthor
    Registered Users, Registered Users 2 Posts: 11,220 ✭✭✭✭Lex Luthor


    also remember that the SD is calculated on the pre-VAT price, if you have to pay any at all


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