Buying a property in Ireland is a lengthy process and a costly affair. The Idea of buying a home should be taken forward only if you wish to stay in Ireland for a long period. Purchasing a home in Ireland for short term benefits is not advisable as it will lead to financial disaster for the buyer.
Engage a solicitor
Fulfilling all the legal aspects is very important while purchasing a home in Ireland. Engaging a solicitor is very important before starting the process. At every step, the legal procedure should be followed to avoid complication during the completion of the purchase process.
Hire a surveyor
A structural survey is a very important step towards the purchase of a home in Ireland. The structural survey will highlight the quality of the building you indent to buy. The decision to purchase will be decided by the structural report.
Decide your budget
The budget or the amount you can invest in a home is very important as it will reduce your workload while searching for a home. The budget will also decide the location as the price of a home depends on the place. The rate depends on the size and place of the house.
Search for a home
Searching for a home through an agent is not advisable in Ireland as it will limit your choice. The agents will showcase the properties listed with them and will avoid properties listed with other agents. So, it is advisable to hunt for a home yourself as you might get better choices through paper ads and browsing the net.
Check with a builder
A builder with his vast experience will be very useful to find a quality house for you. A builder will know the construction quality of a home by just viewing a home. Apart from the structural survey a visit by a builder will be an added advantage for you.
Approach a bank for a loan
You should inform your bank regarding your interest to purchase a home in Ireland if you intend to buy a home through bank financing. Approaching your bank at the end of the moment will lead to embarrassment to you if the bank rejects your loan application siting the delay.
Public Auction or Private Sale
You can look for both the public auction and private sale for your home. Both have their own advantages and you can look for a house by either of the methods.
Legal Opinion
After shortlisting a property, it is very important to have a legal opinion before completing the deal. It is very important to have a solicitor’s opinion regarding the property documents to avoid complication at the end of the process. Your solicitor will guide you in the process of documentation and do it in the correct method.
Insurance process
Ensuring your property is very important if you have the mortgage route through a bank. Purchasing a home insurance Ireland is very important to save your family in case of health issues for you. House Insurance Ireland will help you to repay your loans in case of any untoward happenings to you. The entire sale process will come to a grinding halt if you do not have house insurance or home insurance for your property.
Stamp Duty
The stamp duty for a property varies between 1-2% depending on the value of the property. You need to pay the duty to complete the process of purchasing your home.
Informing the Authority
The Property Registration Authority should be informed and your ownership and mortgage details should be registered with them.
You should always try to purchase a house by following the right procedures. Step by step process might be slow but it is always safe as huge money will be involved in buying a home.
