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Advice on selling a house and moving

  • 09-07-2013 8:53am
    #1
    coleen
    Registered Users, Registered Users 2 Posts: 382 ✭✭


    Hi
    We have been thinking of selling our house for some time now. We are a couple in early fifties who have lived in the same town all of our lives. We have a 4 bed bungalow on a big site in a location close to a rural town. For some time now we have talked about moving to a bigger town 20 miles away just for the fact that it would have more services like bus and train services, more clubs we could join when we retire and more places to eat out etc.
    We were considering going around to the local estate agents and letting them know we would be interested in selling and going on their books without putting up a sign outside our house.
    In the bigger town property would be more expensive but we would be willing to buy a smaller house with less garden to take care of . What are the costs involved in selling? If we sold for 200k and bought for 180k then would we break even .
    We do not want to take a mortgage or have a big out lay. Also I work locally in the town where we live and as I expect to work for at least 8 to 10 years.
    What are the first steps we need to take should we try and sell first and then look to buy ? What other considerations are there


Comments

  • #2
    Forest Demon
    Closed Accounts Posts: 632 ✭✭✭Forest Demon


    Approx costs involved:
    Estate agent for selling 1% to 1.5% (excluding vat of 23%) of sold cost or €3690
    Solicitor fee for selling €1500 (if not complicated)
    Solicitor fee for buying €1500 (if not complicated)
    Stamp duty on new house at 1% €1800
    Survey on new house €500
    Moving costs and misc. costs €1000

    So in total you would be talking about €10,000 in costs.

    You could start looking around for a new house but you won't really be in a position to make an offer until your house is sale agreed if you are using the proceeds of the sale to buy another house. Be realistic on your asking price and base it on the property price register in your area rather than want you want for it. Plenty of houses sitting for sale for a long time because the seller won't sell for the market price. You will be in a great position as a cash buyer so chances were that the house you will buy will also have been worth a lot more previously.


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