From Home to Investment Property

[Kevin]

I'm considering moving out of my home and renting it to tennants. I bought the house 2 years ago so am aware that I must pay stamp under the 'claw back' system. Also aware that I'll have to pay capital gains when I sell it and tax on rent collected, etc.

I have a few questions:

1. If I decide to build/buy a 'home' in the future will I be eligible for home owners mortgage allowance again and if so for how long?

2. When I go to buy a 'home' will I be considered as a first time buyer, home owner or property investor, etc.?

3. Any idea what rental I could collect from a good spacious 3 bed terraced house in Monaghan town?


If there's any other significant considerations then I'd be glad to hear. Tks.

 

[budapest]

1. You will be eligible for tax relief at source, but not at the first time buyers rate, which you should still be getting at the minute and continue to get for five more years.

2. You would be a second time buyer if you live in the home. If it's a new build and you live there, you will more likely than not have to pay stamp duty on this property.

Would it not be wise to stay where you are for three more years at least and avoid having to pay stamp duty on your current property?