Cost of selling and buying?

E

errigal

Registered User
Messages
104
Hi

I own a property for about 5 years which has obviously increased in value significantly.

Am thinking of upgrading to a bigger place.

I know the costs that apply in terms of buying (from buying my 1st house) but is there a tax implication or any costs to be aware of in selling (apart from to the estate agent for his role). ?

Just curious.
 
If I understand you correctly, there's no capital gains tax implication if it's your 'principal private residence' (see revenue.ie, its guite good on this). If it's a business or investment property you would pay capital gains tax on your profit (Also possible if it has significant development potential). Otherwise unless you've bought under a tax incentive scheme with a limit of ten years on resale, selling your private home doesn't have a tax implication.
 
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