Moving Costs
Moving into a new home can be a very expensive time and it helps to have some idea of the main costs involved in advance in order to plan your budget.
Stamp Duty: This is a government duty on the purchase of property. To see if this cost is applicable to you please refer to our Stamp Duty Guide.
Legal Fees: There is no set fee for the purchase of a property but as a guide line you should be putting aside 1% of the property price. You will also have to pay legal outlay which can be quite high and it would be wise to discuss these costs in advance with your solicitor. Genesis Financial have a panel of solicitors who offer our clients excellent value for money and we would be happy to contact them for a quotation if required
Valuation: Each bank requires a professional valuation of the property and this is to ensure the property is worth the amount you are buying it for. This cost is usually about €125.
Surveyor’s Report: On properties that are over 10 years old, you may wish to have a more detailed structural survey completed. This is more expensive and could set you back about €600. It is advisable on older properties as it can highlight any problems which may require renovation or reduce the value of the property.
Snag List: It is always a good idea to have someone experienced with you when you snag your property. The fee for a snag list is usually around €150 - €200.
Mortgage Protection: You must take out a protection policy that provides sufficient funds to pay off the mortgage in the event of death.
Building Insurance: You must have insurance which covers the rebuilding costs and it is advisable to include a contents cover with this policy to cover the cost of replacing the contents of your home.
