Hello, I'm considering buying a holiday home in Ireland and I'm attempting to calculate the initial costs and also the ongoing costs.
I currently have a lodger in my primary residence (also in Ireland), under the rent-a-room scheme. Would this be something that I could continue with in my primary residence, if I purchase a second house?
What ongoing fees, taxes and costs would I be subject to on the second house? Would it be restricted to the same ones I have on my primary residence e.g., Local Property Tax, house insurance, utility bills, repairs/upkeep and TV licence. Or are there any extra ongoing fees and taxes involved in having more than one house?
In terms of initial costs that I would incur in the purchase of the holiday home. Is there anything in addition to this list (I'm budgeting about 150,000 euro for the purchase of a house)?:
- The valuer's report (150 euro I estimate)
- Survey/architects report (350 euro I estimate)
- Stamp Duty (1% of purchase price, so 1,500 euro)
- The legal fees (3,000 euro cost would be on the higher end and I hope it will cost less)
Would 5,000 euro cover the extra costs involved in buying the house (assuming cash buyer)?