New home sale in Belmont, Stepaside, Dublin 18

Shedzafew

This post is from another thread about new builds and stamp duty. Do people who completed avail of/know anything about this?

"Frome Revenue.ie
VAT and stamp duty

Stamp duty is assessed on the VAT exclusive consideration, Sections 48 and 56 of the Stamp Duties Consolidation Act 1999 provide that the chargeable consideration for stamp duty purposes is to exclude any VAT chargeable under Section 2 of the VAT Act 1972 on the sale or lease.
Where VAT is included in the consideration, it should be deducted before calculating the charge or rate of stamp duty

Therefore
Buy a house for 499,000 (as an example)
Your paying VAT on this, but not on the site.
Site is €100,000 (Figure is on evaluation)
so €399,000 includes 13.5% vat
Less the vat is 451541 available for Stamp Duty, €4,515.41

Solicitor tried to tell me its €4,999 "

Bells 1978

Anyone have any idea when phase 3 will be ready ??

Lillian123

Hi All,

I have located the council meeting on the 13th of January which discusses the traveller programme and the proposed developments, including the Enniskerry road. Please see link:

http://www.dlrcoco.public-i.tv/core/portal/webcast_interactive/124629

At 31m18sec the discussion begins. It is very interesting to gain a better understanding of what the passing of the programme actually means; including that the council currently do not own the land at Enniskerry road an have several other sites which are likely to be developed before this one, if at all. But it does mean that it is a possibility at some point in the future.

Lillian123

Another article in Irish times: http://www.irishtimes.com/news/environment/plans-to-build-traveller-accommodation-in-south-dublin-move-forward-1.1655412

It states the following:

A spokeswoman for Dún Laoghaire-Rathdown County Council said implementation would now begin of the draft Traveller accommodation programme 2014-2018 but “it is not possible at this stage to determine if all proposals will be delivered by 2018”.

She said finishing the programme by 2018 depended on many issues, which included planning and funding approval, planning and design, plus site ownership.

“Full estimated costs and funding requirements are not yet determined,” she added.

Jolisa94

Thanks for this Lilian.

Will finish listening to it tomorrow, but if the first part I heard is anything to go by, it looks like the plan is not going to come to fruition any time soon.

M2014

Jorg_East wrote: »

The halting site is indeed something to be concerned about, but maybe not so much: it is small (only 4 bays) and relatively far from Belmont. As far as I know the remaining land north to the halting site is designated for council housing. This one is bigger and much closer to Belmont. Isn't this a bigger concern in your view?

Yes I'm also worried about the larger area (closer to Belmont) designated for council housing, does anyone know if this is going ahead and if so when?

engineermike

Hi,
Just stuck my head into a bit of this lengthy thread r/e Belmont. Putting aside most of the discussion into Travellers sites, price, living space, fees etc -as I can't speak to that stuff (although it would be of concern if I were buying there!).
Overall I wouldn't have any issue with the build quality, the first house we inspected up there - ok we had a bit of an issue getting the builder onside to our way of working (i.e. - Gas & Electric connected before we inspected the home), and in that instance the builder compensated the client our fee - because they got us out to early & the property wasn't ready to inspect.
After that first unit my staff have inspected another 7 units for various clients & everything has been attended to as per our reports.
All fairly run of the mill snags from the reports coming across my desk, and nothing that would lead me to think its 'Bad build quality'.
rgds
mike F

Jolisa94

Not sure what the timeline is on the social housing, but did follow up on the planning permission for the educate togther school (notice on the railings on the Village Rd side of that site). Its not happening and they are going ahead with a site on Ballyogan Rd instead, which is a pity.

BTW there aready is social housing in the area, i think its the block of appartments in Belarmine near the roundabout - hasn't cause any issues so far.

Lillian123

Thanks for the info on the Educate together school. I am less worried about the traveller site and social housing now, considering the issue across SCD. There is a site planned on the current St. John of Gods campus, which probably won't go ahead either due to cost of land. Have you received your contract Jolisa?

Jared thanks for the info on timelines, I just wanted to get an idea.

EngineerMike - thanks for your input on the build quality aswell.

Jolisa94

Hi Lilian,

got the contract but it had the wrong floor plans, so waiting for an update.

Has anyone here signed yet?

Shedzafew

Hi Jolisa,

A family member of mine has signed also. Same thing happened with his contract where they sent out the floor plan for a two story house when theirs was 3 stories. It took them a day or two to come back with the correct floor plan.

The other thing that they had to get changed in the contract was to get a subject to loan clause included. The builder’s solicitors also gave an undertaking stating that all liability with the land registration and title issues remained with them until they were resolved. They also provided satisfactory documentation that the potential AIB charge on the land was no longer there.

Bells 1978

Hi - people moved into phase one of the development and there is no way those properties would have closed unless everything was in order on both sides.
Anyone have any idea when phase three is ready?

Jolisa94

Thanks Shedzafew,

I don't think it will be much longer for us either, once the contract is in order and the outstanding issues have be addressed to our satisfaction.

Wallander

Hi,

Our solicitor has been through the contract and it seems service charges are now the main sticking point.

Firstly because we have an estimate of over 600 when we too were told 100 at the viewings. Secondly because this will need to cover lighting and roads in the estate apparently. Looking after the plants is one thing but we don't really fancy having to resurface our street at our own expense in a few years time, has anyone else discovered/questioned this?

cmore123

Do we have any idea when roads and lighting might be finished?

I got a call from Sherry Fitz today to say the contract is in the post to my solicitor.

Lillian123

Wallander - €600 is alot of money. Over the lifetime of a standard mortgage of 35 years this equates to €21,000.

In relation to the lighting and roads, are developers not responsible for this until it is taken charge by the county council? If they are not it means the service charge could increase rapidly over a number of years which is concerning.

Wallander

Hi Lillian,

It sure is a lot...a lot more than 100 per year as we were led to believe too.

Our solicitor says it is in our contract that it will not be taken over by the council.

We've been told the charge will cover maintaining lighting, roads, footpaths, grass, kerbs, public liability insurance and ensuring parking compliance.

cmore123

So no gritting of the roads, on a hilly site?

Bells 1978

So the local authority is not taking charge of the development once completed? I sense a strong residents association coming on!

cmore123

I'll be there, Bells, if I do go ahead with it all!

Wallander

That's my understanding Bells, although it all seems quite daft so I'm hoping I'm somehow mistaken!

Jolisa94

Street lights

Passed by on my way home and noticed these are finally up.

Service charge

Never expected 100 to last, but 600 is very steep. The houses in both Belarmine and Aikens village pay around 300/350. The council stopped taken new developments into charge a while ago, so whatever services will be provided in the new development, I don't see that they could be significantly different from the neighbours.

Wallander

That's interesting to know Jolisa, thanks.

Is it the case then that Belarmine and Aikens are also non-council maintained when it comes to roads? If so you'd think we could get charges to a similar figure...

Jolisa94

Must admit that I'm not sure what the story with the roads is specifically, but I would imagine that if the council has not taken the developments in charge, that would include the roads, as well as the lighting, green areas etc..

Jolisa94

According to the dlrcoco website only main roads are taken in charge by the council, so in our case that would be village rd, not the roads inside the developments. This has been the case for some time now, so Belmont should be no different to Belarmine in that respect.

This is the link: http://www.dlrcoco.ie/aboutus/councildepartments/planning/findit/buildingcontrol/takinginchargeofestates/

cmore123

Maybe I'm just being naive here, and correct me if wrong; but - if other local developments are paying half what we will, would a residents association of us, say, be able to say to those looking after the site, "drop your price or we will engage a different management company"?

I have always lived in areas where the local authority does the lot, so this concept is new to me.

copacetic

cmore123 wrote: »

Maybe I'm just being naive here, and correct me if wrong; but - if other local developments are paying half what we will, would a residents association of us, say, be able to say to those looking after the site, "drop your price or we will engage a different management company"?

I have always lived in areas where the local authority does the lot, so this concept is new to me.

Yep, the management fee isn't set by anyone except the residents themselves based on how much things cost. You guys get together, elect a committee and let them look for the best value in combination with a good agent. Bin collection etc can make quite a difference depending on how it is arranged etc.

cmore123

That's reassuring, copacetic, thank you. I suspect I'll be on that committee!

NinjaTruncs

cmore123 wrote: »

Maybe I'm just being naive here, and correct me if wrong; but - if other local developments are paying half what we will, would a residents association of us, say, be able to say to those looking after the site, "drop your price or we will engage a different management company"?

I have always lived in areas where the local authority does the lot, so this concept is new to me.

It's not quite like that. Firstly you engage a management agent, not a management company. The management company is set up to run the development, there will be a number of directors in the MC, usually it is the developers who are the directors initially, and will continue to do so until they leave the site at which point a number of residents will be appointed as the directors.

Directors will set the approve the fees to be paid by each resident each year, however in my experience it is the Agent who works out the budget.

The Agents will have annual fees, in our development these are approx 18,000 pa. But there are other costs also, landscaping, maintenance and other things such as legal fees, there will also be the issue of arrears which mount up quickly, recovering these arrears has costs associated with them, this all adds up.

As i said previously the cost for houses in our development, just up the road is about 350 pa and others have said similar fees are charged elsewhere locally.

What is a little underhanded imo is that they have set the fees low for the first year knowing it's not a true reflection of the future costs, as an example, my first years fees were 1,200 (for an apartments) however this has now dropped to 800 pa and has been this amount for a while. they should have been set to at least 300.

Jolisa94

Here's a link to a property sold in Aikens village in the last year - service charge is 320 pa

http://www.myhome.ie/residential/brochure/72-grianan-fidh-aikens-village-sandyford-dublin-18/2085788