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Conference tallis::celt

Title:Celt Notefile
Moderator:TALLIS::DARCY
Created:Wed Feb 19 1986
Last Modified:Tue Jun 03 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:1632
Total number of notes:20523

474.0. "Want a piece of the Rock!" by AUSTIN::OREILLY (Stout in Austin?) Wed Dec 07 1988 15:36

    Buying property in Ireland:
    
    What are the pitfalls and the benefits.
    
    What are the tax implications (incl. US Income Tax, Irish taxes,
    everything)?
    
    What's the best way to get started?
    
    How 'bout going together with others to buy some property (with
    the idea of perhaps buying out the partners at a later date)?
    
    Anything and everything would be appreciated - other notes in this
    conference.   Other notesfiles altogether?
    
    Thanks, 
    JO'R  (tears in my eyes as it's been nearly a year since our 3 week
    visit to Ireland)
T.RTitleUserPersonal
Name
DateLines
474.1What type of property? Financing?HBO::OFARRELLWed Dec 07 1988 17:181
    
474.2TPVAX2::CULBERTFree Michael CulbertWed Dec 07 1988 18:2110
    J'OR 
    
       We have a bridge in Kerry we'll sell ya......
    
                                    
    keVin made me do it   8*)
    
                        
    
    paddy 
474.3 ;-) EGAV01::DKEATINGRyanAir now flys Ex BelguimThu Dec 08 1988 03:566
    I have one slightly used, fully detached (sic),over exposed
    (however nothing that a dab of whitwash wouldn't get rid of)
    Anglo-Irish Agreement I could sell ya, with Civil Servants,
    red-tape and all mod cons included. 
    
    - Dave K.
474.4not a serious bone in this file's body!AUSTIN::OREILLYStout in Austin?Thu Dec 08 1988 09:1226
    
    
    Regarding the only serious reply :-)
    
    Type of property - a small to medium sized home - could be in the
    city or country or inbetween.  We might consider buying the land
    - but trying to build in Ireland might just add one more complication
    that we wouldn't want.
    
    I'm not really looking into the *details* but rather the overall
    implications for a typical situation.  Now, you might tell me what
    does a typical bungalow, medium sized, in good shape, cost?  I suppose
    location is going to make a difference (that ought to draw out 
    a few remarks from you clowns out there!! :-)  ).
    
    Financing - I guess there's a few choices.  Either we save it all
    up ahead of time (not very likely!), we finance in the US or we
    finance in Ireland.
    
    Is there anyone reading this notesfile, an American, who has done
    this and goen through the process??
    
    Thanks, JO'R
    
    P.S. Can you describe the Kerry bridge a little more?!  I'll pass
    on the "agreement".
474.5Catch A Fire.FSLPRD::KSULLIVANThu Dec 08 1988 13:4520
    John,
         just a little word of advice when contemplating the purchase
    of property in Ireland. Lately, the Welsh nationalist policy of
    burning down such properties is spreading........so beware.
    
    OIL....RICH....TEXANS....BUYING UP.....OUR.....COUNTRY.....GGRRRRR!!!
    
    "Hey lads, anyone gotta match"?
    "Nuh"!
    "Naa"!
    "Anyone got 5p"?
    "No"!
    "You jokin', it's Tuesday"!
    "OK, we'll meet again Thursday after we've been up to the barracks...."
    
    
                     Your Doubt Creating Advisory Agent,
    
                              Murphy.
    
474.6DECEAT::DARCYThu Dec 08 1988 15:2912
    The English and Germans have been buying up properties around
    Loch Corrib in Galway for some time now.  Correct me if I'm wrong
    but I think there's a limit on the number of acres that a foreigner
    can buy (although it's something huge).
    
    Whatever you do, don't buy timesharing.  Many companies
    offer "live in a castle" timesharing.  You still pay a maintainance
    fee per year, and there's no guarantee they won't fold.
                                                           
    Comtemplate weather too.  If you like warmth then Kerry's your bet.
    Sun then Wexford.  For scenery I'd go to Mayo.  For Arab sheiks,
    Hindu sihks, and Scottish posties, go to Clare. 
474.7$50kHBO::OFARRELLThu Dec 08 1988 17:2917
    I'm still trying to figure out the connection of warmth with Kerry,
    Does it come from the tongue or the hot whiskey when you come in
    from the wind and the wet.
    
    The prices of houses vary a lot with location, but I would say you
    would pay something in the region of $50,000 for what you are looking
    for.
    
    For American tax reasons you would be better to finance as much
    of the purchase as possible through second loan on your current
    home.
    
    In general house prices have not moved much in Ireland over the
    last five years, however since interest rates are relatively low 
    at present and some confidence is coming back into the economy,
    there could be a tendency for prices to make up for the five years
    of inflation.  So if you are going to buy don't delay too long.
474.8Go North, young manYIPPEE::BOYLEFri Dec 09 1988 03:595
    Re .6 "For scenery, I'd go to Mayo...."
    
    	  Hmm...never been to Donegal then, have we?
    
    Frank.
474.9Set smiley/onEGAV01::MMCMULLINFri Dec 09 1988 06:4514
    
    
    	House prices in Galway are rocketing at the moment. I would
    look for a nice holding halfway up a mountain in Donegal which
    has sunshine,warmth ,scenery & crack. The quantities may be variable
    when it comes to sunshine but for warmth and crack 'there is no place
    else on earth just like the homes of Donegal'.
    
    P.s. I know of a single lady with a large(ish) holding who is in
         market for a hubby. No mortgage or any problems like that.
    	 Any takers?
    
    Maurice . 
    
474.10EGAV01::DKEATINGRyanAir now flys Ex BelguimFri Dec 09 1988 08:317
    Maurice...they only crack you get up in Donegal are in the walls!!!
    ;-)
    
    However this lady sounds interesting..but knowing me I'v already
    put my foot in it as she probably comes from Donegal. :-(
    
    - Dave
474.11<We'll keep a welcome in the hillsides...)VOGON::WALTERSMon Dec 19 1988 11:079
    A'ch a fy - Absentee landlords!  Now haven't you Irish Celts always had
    a thing about that?  In Wales, we always welcome such newcomers into
    the community with a nice warm fire.   Cheers the poor farm worker
    who's not able to buy his own cottage owing to the rising prices
    doesn't it?     ;)
    
    Diolch,
    
    Colin
474.12But there's warmth in the welcome.FSLPRD::KSULLIVANWed Dec 21 1988 12:429
    Well isn't that the truth......nothing like the sight of a big hearty
    fire to lighting up the night sky......warms the heart.....
    
                         Sigh.....
    
                          Murphy.