Buying home before living there?

Nolan76

Member

Member since 10 September 2021

Nolan76

09 March 2023 07:36:43

Nolan76

09 March 2023 07:36:43

My wife and I plan to move to Ireland in about two years.

We thought about buying soon in Dublin since a property could be a good investment in the interim with the added bonus of having a home ready and picked out when we do move.

A short term let seemed like a great option given the flexibility. However I read after 2019 it is nearly impossible to have a short term let in Dublin if it isn't the primary residence.

Long term lets also seem to have complex tenancy laws, not something I'm sure I'm up to managing from abroad. It is also less flexible and we wouldn't want to have to ask someone to move out on account of us moving in.

What do you recommend here?

Cynic

UK / Netherlands Expert

Member since 15 September 2015

Enschede

Cynic

09 March 2023 10:25:48

7399

Cynic

09 March 2023 10:25:48

7399

Enschede

Hi and welcome to the Forum.

Guess it depends on your financial situation. If you have the cash to buy outright, then as you say, it's an investment and long-term security for your future Expat life. If you don't have the cash and intend to get a mortgage, then it becomes more difficult as most banks have much more stringent requirements and limits when lending for a house to non-residents, you would probably need the services of a mortgage broker; I don't know of any, but a quick Google search brought up a few hits. Just be careful of scammers, I'd advise you to check out this link and then read some of the stories it will lead you to.

You also need to be confident that where you buy is in the right area. What many people do is use something like an Airbnb for their immediate needs, then use that as a base to begin their search for something permanent.

I hope this helps.

Cynic

Expat Team