Recently purchased house - Need to sell again soon

J

James Fjord

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I purchased a house this summer with a 50% LTV mortgage with Haven.

However it looks like that I will need to relocate next summer with work permanently (opportunity I can't turn down unfortunately).

I will be looking to sell the property next year, not looking to make a profit but would be happy to get the 50% back that I have invested in it (if it sells for a similar price).

Will I be subject to any capital gains tax or any other hidden costs?

I am on a variable rate so paying off the mortgage early won't be an issue.
 
No CGT, but there's the legal bills you paid to buy it, now the same with selling, the estate agents fees, the water bill, the property taxes, insurance, etc. It all adds up. Good luck though.
 
Thanks folks.
I will just have to suck up losing money on stamp duty, property tax etc.

If only one had a crystal ball! Here's hoping the market stays on the upward trajectory it's currently on.
 
noproblem said:
Then again James, it depends where you're living.
Click to expand...

Absolutely, currently in Galway. Market isn't as hot as Dublin but there is still plenty of demand.

Not too many developments in the pipeline either.

But who knows what could happen!
 
I know the Galway market very well indeed, depends what part of the city you're in.
 
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