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Question on buying new house

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  • 16-06-2013 2:07pm
    #1
    shamrock55
    Registered Users Posts: 7,209 ✭✭✭


    I was just looking at the property price register site can i just ask what ppr price means its much lower then the sale price of a few of the same houses im looking at in a small estate the ppr price differs alot in the few houses that have been sold they are then sold for more then the ppr price thanks guys


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    #2
    ted1
    Registered Users Posts: 23,524 ✭✭✭✭ted1


    For new houses VAT is charged and asfaik its excluded from the poor price, so add on 21% or whatever the current rate is


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    #3
    shamrock55
    Registered Users Posts: 7,209 ✭✭✭shamrock55


    So ppr is just the price before vat is added


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    #4
    ted1
    Registered Users Posts: 23,524 ✭✭✭✭ted1


    Yes but I realise I was incorrect on the rate its13.5%


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    #5
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    It's the actual sale price. It includes VAT (where applicable).


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    #6
    ted1
    Registered Users Posts: 23,524 ✭✭✭✭ted1


    Henry Ford III wrote: »
    It's the actual sale price. It includes VAT (where applicable).
    No it doesn't

    From the ppr website:
    If the property is a new property, the price shown is exclusive of VAT at 13.5%.


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    #7
    shamrock55
    Registered Users Posts: 7,209 ✭✭✭shamrock55


    Cheers for that ted


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    #8
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    Right Ted.

    Imagine selling a house you bought new in a couple of years. €200k. Propsective buyer has checked the NPPR and sees you paid c.€173k.

    Try explaining to him that you paid VAT on top - he won't give a damn as there's no VAT on his potential purchase.


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    #9
    shamrock55
    Registered Users Posts: 7,209 ✭✭✭shamrock55


    Why are some properties vat exclusive and others not is it just new houses you pay vat on and not 2nd hand ones


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    #10
    L1011
    Registered Users Posts: 68,807 ✭✭✭✭L1011


    shamrock55 wrote: »
    Why are some properties vat exclusive and others not is it just new houses you pay vat on and not 2nd hand ones

    Just new.


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    #11
    ted1
    Registered Users Posts: 23,524 ✭✭✭✭ted1


    Henry Ford III wrote: »
    Right Ted.

    Imagine selling a house you bought new in a couple of years. €200k. Propsective buyer has checked the NPPR and sees you paid c.€173k.

    Try explaining to him that you paid VAT on top - he won't give a damn as there's no VAT on his potential purchase.



    what I paid is irrelvant, its the current market price that the buyer will pay.

    your point is also mute, as the simple fact is VAT is charagable on new houses and not reflected in the PPR.

    as an aside at 2% inflation 173k is worth 200k in 7.5 years.


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    #12
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,711 Mod ✭✭✭✭Henry Ford III


    I think you are some distance from understanding or appreciating my point ted.

    Let's leave it at that.


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    #13
    ted1
    Registered Users Posts: 23,524 ✭✭✭✭ted1


    sounds like the penny just dropped ;)


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