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Additional costs when buying a house

  • 09-12-2021 9:21am
    #1
    Registered Users Posts: 193 ✭✭ SmallgirlBigcity


    Quick question, how much should I set aside for additional costs when buying a house, such as surveyor costs, solicitor costs etc? I was thinking maybe 10k? Thanks in advance.



Comments

  • Registered Users Posts: 1,266 ✭✭✭ TheW1zard


    I paid 1k for a solicitor and got a survey for less.

    Bear in mind how much you'll need depending on what house you buy. ie: if it needs work.



  • Registered Users Posts: 193 ✭✭ SmallgirlBigcity


    Oh that's good to know. Perhaps 10k is way more than I'll need! I'm hoping to buy a house I can pretty much walk into and live in. Not looking for a fixer upper. Thanks for the info.



  • Registered Users Posts: 631 ✭✭✭ houseyhouse


    I think leaving 10k aside for other costs is probably a good idea. €1k is a very good price for a solicitor, I would set aside a little more than that. I think mine was €1.5k. Survey should be well below that though. You’ll also have 1% stamp duty on the purchase price (assuming you’re buying somewhere under €1m). You’ve to pay the balance of the current year’s property tax when buy and there are the ongoing costs of insurance and mortgage protection. And of course if you’re moving from a furnished rental, you’ll need furniture.

    Post edited by houseyhouse on


  • Registered Users Posts: 150 ✭✭ Teacher2020


    This is our costs for buying - 10k is more than enough.

    Solicitor 1600 incl vat

    Land Registry and searches 990

    Survey 250

    Valuation 150

    Stamp duty 1%

    Property Tax -we paid 0.1%



  • Registered Users Posts: 213 ✭✭ Kurooi


    Biggest cost is your stamp duty - 1% value of the house , next up solicitor and this can vary so shop around for quotes. Set aside 2k or so. Say a 500k property I'd set aside 10k (5k stamp duty, 2k solicitor, 3k cushion to absorb those extra checks and searches Teacher2020 listed well)

    This is where I would recommend those cashback mortgages (with good rates) for anyone struggling to get their cash in order because when you go into the actual property and uncover the extra costs there is nothing better than your bank giving you a load of cash.



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  • Registered Users Posts: 32,123 ✭✭✭✭ o1s1n


    A lot of it really depends on the value of the house alright, as noted the stamp duty is 1% and solicitors fees are usually in and around 2k from my own experience anyway. Anything I've ever bought came to somewhere between 5-7k in total.



  • Registered Users Posts: 147 ✭✭ slystallone




  • Registered Users Posts: 147 ✭✭ slystallone


    And do most people accompany the surveyor when doing the survey or just let them do it themselves and get sent the report?

    Post edited by slystallone on


  • Registered Users Posts: 150 ✭✭ Teacher2020


    This was for a purchase in March 2021 so about a year ago.

    We didn't accompany the surveyor. He arranged with the owners to have it done and then sent us the report.



  • Registered Users Posts: 147 ✭✭ slystallone


    Did the surveyor check if there is any flood risk with the property?



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