Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

I want to buy land at end of our garden

Options
  • 30-05-2011 2:11pm
    #1
    Cottontail
    Registered Users Posts: 289 ✭✭


    as the title suggests, we want to buy a small area of land at the end of our garden. Would we have to pay any kind of tax on this land if the purchase goes ahead?

    Apologies if this is posted in the wrong area!


Comments

  • Options
    #2
    RTT
    Registered Users Posts: 315 ✭✭RTT


    Well first of all who owns the land? Is it a neighbour or the council that you want to buy it from


  • Options
    #3
    Mr. 2
    Registered Users Posts: 30 ✭Mr. 2


    You pay stamp duty on land purchases at the following rates:

    €0 - €10,000 0%
    €10,001 - €20,000 1%
    €20,001 - €30,000 2%
    €30,001 - €40,000 3%
    €40,001 - €70,000 4%
    €70,001 - €80,000 5%
    €80,001 - €100,000 6%
    €100,001 - €120,000 7%
    €120,001 - €150,000 8%
    €150,001 + 9%


  • Options
    #4
    Cottontail
    Registered Users Posts: 289 ✭✭Cottontail


    RTT wrote: »
    Well first of all who owns the land? Is it a neighbour or the council that you want to buy it from

    There was a builder who was doing the estate we live in, but he got taken over by a bank after he went bankrupt.


  • Options
    #5
    Coriolanus
    Registered Users Posts: 4,879 ✭✭✭Coriolanus


    Might be difficult getting the title released if the bank has dibs on it.


  • Options
    #6
    donalg1
    Closed Accounts Posts: 3,513 ✭✭✭donalg1


    Mr. 2 wrote: »
    You pay stamp duty on land purchases at the following rates:

    €0 - €10,000 0%
    €10,001 - €20,000 1%
    €20,001 - €30,000 2%
    €30,001 - €40,000 3%
    €40,001 - €70,000 4%
    €70,001 - €80,000 5%
    €80,001 - €100,000 6%
    €100,001 - €120,000 7%
    €120,001 - €150,000 8%
    €150,001 + 9%

    I thought stamp duty was 1% on anything up to €1m since december 2010, maybe i am wrong though


  • Advertisement
  • Options
    #7
    Cottontail
    Registered Users Posts: 289 ✭✭Cottontail


    Nevore wrote: »
    Might be difficult getting the title released if the bank has dibs on it.

    We were in contact with the ones who have taken the estate over and they seem open to the idea of us buying it. Even if we can't, there is nothing lost, but it would be nice to get the extra bit to extend the garden, and maybe even boost the value of the house a little.


  • Options
    #8
    Cottontail
    Registered Users Posts: 289 ✭✭Cottontail


    donalg1 wrote: »
    I thought stamp duty was 1% on anything up to €1m since december 2010, maybe i am wrong though

    It definitely won't cost that much! It's a small enough patch of land, not sure how much they will quote us but I reckon 3 - 5k.


  • Options
    #9
    common sense brigade
    Banned (with Prison Access) Posts: 506 ✭✭✭common sense brigade


    you know afetr 10 years if no one has made a claim on the land it would be yours anyway. and have cost you nothing


  • Options
    #10
    Mr. 2
    Registered Users Posts: 30 ✭Mr. 2


    donalg1 wrote: »
    I thought stamp duty was 1% on anything up to €1m since december 2010, maybe i am wrong though

    This is true for residential property but the stamp duty rates quoted are for land.


  • Options
    #11
    donalg1
    Closed Accounts Posts: 3,513 ✭✭✭donalg1


    Yeah i thought that might be what it is alright


  • Advertisement
  • Options
    #12
    Cookie_Monster
    Registered Users Posts: 24,475 ✭✭✭✭Cookie_Monster


    common sense brigade wrote: »
    you know afetr 10 years if no one has made a claim on the land it would be yours anyway. and have cost you nothing

    how do you figure that.

    it's clearly owned by either the developer or the bank, why would the OP just be allowed take it over?


  • Options
    #13
    Dades
    Moderators, Society & Culture Moderators Posts: 25,558 Mod ✭✭✭✭Dades


    Cookie_Monster wrote: »
    it's clearly owned by either the developer or the bank, why would the OP just be allowed take it over?
    I guess he means if the OP was to "annex" the land by moving/removing whatever existing boundaries are there, in the hope that nobody objects over the next decade. Have heard of this idea before.

    For the estimated size/price of land in question that sounds like pointless potential hassle.


  • Options
    #14
    Cottontail
    Registered Users Posts: 289 ✭✭Cottontail


    Cookie_Monster wrote: »
    how do you figure that.

    it's clearly owned by either the developer or the bank, why would the OP just be allowed take it over?

    I agree, it's not our land but it belongs to the bank who took over the estate. That's basically stealing and not something we would ever do. Not to mention the hassle with site boundaries if we ever wanted to sell our house afterwards.


Advertisement