Non Resident First Time Buyer

Hi,

I considering buying my first property within the next 6-12 months. The only thing really putting me off is the fact that as a non resident, I'll have to pay stamp duty. I've been living and working as an expat for the last 18 months and intend to come back to Ireland within the next 2-3 years and live in the apartment for a considerable amount of time (however while I'm away I'd want to have it rented).

As it wont be my principle residence, I should have to pay full stamp on the purchase. I believe if you work for the department of foreign affairs you there is an exemption to this rule which isn't applicable to me however is there anything I can do to avoid paying it?

Regards

Eoghan

Stating the obvious, but why not wait till you come back?

Even if you work in the Department of Foreign Affairs i'm afraid you have to pay the Stamp duty. It is known that Revenue take a harder line with these employees.

As Howitzer stated why not wait until you return home as the rental market is quite bad at the moment and there is no guarantee that you would get tenants, and if you are lucky enough to get them you may not get enough in rent to cover your mortgage payments (voice of experience here by the way).

Eazos,
If you've already own (bought) a property abroad, then you don't qualify as a first time buyer here. I'm not sure how you residence status affects your entitlement to the first time buyers allowance. You're still regarded as "ordinarily resident" for tax purposes as you're non resident for less than three years.

I've never heard of the Dept of Foreign Affairs giving special treatment to it's staff.

Hi,

there's a couple of reasons why I'm thinking about buying in the next 6 -12 months

- I see asking prices have fallen and it will be possible to get a further reduction on the

Hi

there's a couple of reasons why I'm thinking about buying in the next 6 -12 months

- I see asking prices have fallen and it will be possible to get a further reduction on the final purchase price
- I reckon prices will continue to fall in for the next 6-12 months and then perhaps level off
- I don't trust leaving my savings in banks and would prefer a 'bricks and mortar' asset instead.
- whether the rent covers the payments is irrelevant in the decision.

I don't own any properties anywhere. I believe the criteria for recieving first time buyers' stamp duty relief is that its your first purchase and that it will be your primary residence for a number of years after that purchase. The latter I don't fulfil. Are there anyways around this?

Thanks,

Eoghan