hen if you see trouble around the corner and you fear for your deposits, simply walk in and pay off your mortgage in full !!
My fear in relation to buying property abroad is my lack of knowledge on foreign property.
There are a significant number of costs involved; NPRR, rising house insurance not to mention the property taxes which are coming into play next year. From everything I have heard these are going to be significant!
Am I correct in saying that the costs on buying a rental are:
Stamp duty on purchase 1% of price, yearly NPPR cost €200, yearly Household charge €100, and tax on income which can be offset against all costs in repairing and upgrading?
So around €300 euro a year+Insurance + tax liabilities?
So, in buying a cheap doer upper in a good renting location you can offset repairing it against tax on income when it becomes rented, in that tax year?
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