T
Thrifty05
Guest
Hi I am in a situation where I don’t have to buy my first home yet because comfortable long term accommodation is provided through my employment.
Saying that though I have a sufficient amount saved that would act as a deposit for a mortgage and am just not sure what would be more profitable for me. I would be looking to buy my own home in around 4 / 5 years but I feel that maybe I should jump onto the property ladder now when rates are low.
I have done a bit of research and copying an existing dwelling built by a family member, using similar labour, finishes etc I could have a decent three bedroom house constructed for max. 110,000 – including fees etc. (actually cost relative 100,000) The cost of the site would vary between 120,000 – 180,000 depending on exact location in relation to my nearest major town – Galway – I would be budgeting to buy the site for 140,000 max. This type of house at the moment is making 300,000 – 350,000 again depending on exact location.
Also is it true that if I were to live in the house for six months prior to selling it that i wouldnt pay as much tax on it? And i am sure there is a major catch that i am not thinking off? any advice would be gladly received
Saying that though I have a sufficient amount saved that would act as a deposit for a mortgage and am just not sure what would be more profitable for me. I would be looking to buy my own home in around 4 / 5 years but I feel that maybe I should jump onto the property ladder now when rates are low.
I have done a bit of research and copying an existing dwelling built by a family member, using similar labour, finishes etc I could have a decent three bedroom house constructed for max. 110,000 – including fees etc. (actually cost relative 100,000) The cost of the site would vary between 120,000 – 180,000 depending on exact location in relation to my nearest major town – Galway – I would be budgeting to buy the site for 140,000 max. This type of house at the moment is making 300,000 – 350,000 again depending on exact location.
Also is it true that if I were to live in the house for six months prior to selling it that i wouldnt pay as much tax on it? And i am sure there is a major catch that i am not thinking off? any advice would be gladly received