Tuesday, January 21, 2020

Second homes what are the legal considerations?

DART trains run every 15 minutes and you can be in the heart of Dublin in under an hour from many of County Wicklow’s most popular spots. Bray is a popular spot — hardly surprising given its seaside location and it being home to some of Ireland’s fanciest restaurants. Dingle is a small but delightful port town on south-west Ireland’s Dingle peninsula. Enjoy sandy beaches, rugged scenery — both along the coastline and in the countryside, and a range of hiking trails. The village is known for its narrow, cobbled streets, colourful buildings and excellent selection of shops, restaurants and pubs. For affordable property, excellent food and some of Ireland’s best beaches, County Wexford could be just the ticket.

buying a second home in northern ireland

There are always festivals and events going on during summer, but if that doesn’t work out, you can simply explore the shops, seafood restaurants and pubs. The peninsula is home to many peaceful beaches perfect for sunnier days. County Wicklow is close enough to Dublin that many residents commute into the city every day. This means that you’ll be able to access the capital’s job market, while living in the peace and quiet of the countryside. Another great option for those searching for holiday rental income is the buzzy seaside town of Bundoran in South Donegal.

Pay for the property and move in

The major industries are tech, retail and distribution, education, healthcare, financial industries, construction, tourism and culture. Around half of the city’s population works in the professional sector. Donegal is in the north-west of Ireland and is actually further north than most of Northern Ireland, a little anachronism from the division of Ireland 100 years ago.

buying a second home in northern ireland

Therefore, you should always visit a property to get the whole picture before you decide to buy it. One of the most desirable things about a move to Ireland is that it’s possible to snap up fantastic properties with considerable plots of land for a not too hefty price tag. When you find yourself a bargain of this nature, it can be tempting to get lost in daydreams of how you could renovate that property into the Irish bolthole of your dreams.

Don’t stress if it doesn’t come through

Also, you’re on Ireland’s west coast with its beautiful beaches and hiking trails. This is just the spot if you want to be in the fresh air every time you holiday in Ireland. Sligo, Roscommon and Mayo are also affordable options, and, if it’s land you’re after you can find property with ample space.

buying a second home in northern ireland

Many have retained all of their period features, with delightful, spacious gardens attached. The M6 motorway has brought Galway to within a 2.5 hour drive to Dublin, allowing the city to build on the “Celtic Tiger” boom. International companies with premises in Galway include Cisco, Medtronic, EA Games, SAP AG and Apple. Around 2.1 million tourists visit Galway every year, producing a revenue of €400 million and creating plenty of job opportunities. Galway City has grown rapidly in the last few years and enjoys a strong economy with lots of job opportunities.

What properties are excluded from the stamp duty for second homes?

Firstly, visit the Property Services Regulatory Authority , and check out their public register of auctioneers and estate agents. Secondly, you can take the old-fashioned route and check out the Golden Pages, Ireland’s version of the Yellow Pages. Valentia Island is a beautiful spot located off Kerry’s picturesque Iveragh Peninsula in the Atlantic Ocean. It is linked to the mainland at the charming village of Portmagee but you can also hop on a car ferry, which operates from April to October.

buying a second home in northern ireland

This might seem like a cost you could do without, but it is considerably less than what you’re likely to incur if you have to face repair costs later. It will not only include checking aspects of the property such as the attic, insulation, drains and services but also suggesting remedial action. The surveyor will check boundaries, planning issues and recent alterations.

This will cover you in the event that defects are discovered after the survey is complete. Seek proof that you’re protected in the event that your surveyor misses something important. Stamp duty is charged at a rate of 1% on the property price up to €1 million, and 2% for the value above that.

buying a second home in northern ireland

Once you get lost in the world of renovation options it can feel like you need all the most expensive items, and that you can’t possibly live without this or that. Make a list of ‘needs’, ‘wants’ and ‘nice to haves’; when your budget is tight, having options categorised like this will make it far easier to say no to something. If so, how long will you be displaced for and how much will the cost of renting another property eat into that all-important budget? Is it viable to have the renovation work done before you actually move to Ireland?

What if I own property abroad?

Firstly, because many people move here to escape city life, you can expect to find a wide network of creative freelancers and aspiring entrepreneurs filling up the cafes. As the hipsters have arrived, artisan foods, crafts, independent boutiques, cafes and restaurants are popping up in every town and village. Other big industries in the region include textiles, healthcare, engineering, food production and fishing.

buying a second home in northern ireland

Although Donegal is rather remote, and lacks a big city, if you’re looking for a seriously peaceful retirement or holiday home, this could be the spot for you. For the lowest prices, look to the likes of Dungloe, Ardara, Gleneties and Gweedore. Areas such Rathmullan, Downings and Dunfanaghy are slightly more expensive, but benefit from more amenities and being more accessible. Ireland’s northernmost county is a fantastic spot for securing a bargain home. When the economy collapsed, many Donegal locals upped sticks and moved to where the jobs were.

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