Purchasing Costs for New Property.

The over all costs and fees are very similar to those in connection with a resale property, however the greater element will be the IVA which will be paid at a rate of 7% of the purchase price. This figure changes to 16% if a plot of land or a separate garage is to be purchased. Among the fees payable will also be Stamp Duty which is levied at 0.5% of the purchase price.

In summary you should always budget for around 10% to be added to your purchase price in order to cover all fees and costs.