Show Notes
Nearly 50% of Irish Home Buyers need help from the Bank of Mum & Dad. Gifts from Family and Friends is sometimes the only way to afford a deposit for a home as prices become less affordable to the average household. For those fortunate few, it can be a lifeline... but there are risks and tax implications.
So this week in Part 4 of our House Buying Guide, I talk to Alan Purcell from CloudAccounts.ie who talks us through how a parent or family member can 'loan' or 'gift' you money to help buying a house.
Why you should consider your 'Lifetime Limit' of Inheritance and Gifts. How much your mother, brother, uncle and best mate can give you. A clever trick to get €48,000 from your parents over New Years... TAX FREE!
I also go through our Mortgage Application Checklist in my Explainer section - and Alan goes into detail about self-employeed mortgage applications, plus other taxes involved in buying, selling or owning a home. Find Alan on Instagram too @CloudAccountsIreland
At the end we have our fun features - In, Out and Away & New Home vs Old Home - plus a round up of this week's news you need to know.
Find out more about the house buying process at www.IrishHome.ie and Follow us on Instagram @IrishHomeMagazine
If you are starting your Home Buying Journey, order the Irish Home Buyer's Journal here... Hosted on Acast. See acast.com/privacy for more information.
More from The Irish Home Show
For our final Episode in our First Season, we are recapping our top 5 Tips for Savings, Mortgage Applications and Home Hunters.
We're in the final stages of closing the sale of your home. You've gone sale agreed, paid a deposit, appointed a solicitor and instructed a surveyor.
Surveys are your next step in your house buying journey after going Sale Agreed. You will want to employ a building surveyor or engineer to check the property to see that everything is as it should be.
Congrats! You've found your dream home, you've won the bidding war and your offer has been accepted! What happens next?
The next stage in your House Hunting Journey is making offers on a property. On this week's show we guide you through how best to make offers on a property, how to win a bidding war and when to quit if the prices get too much.