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Downsizing Property

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  • 13-08-2015 9:44am
    #1
    DulchieLaois
    Registered Users Posts: 466 ✭✭


    Hi All,

    Some feedback please.

    Our long term plan is to keep our property in Dublin as an investment

    My wife and I own a modest 2 bedroom house in inner city which needs a bit of renovation properly to the tune of 15K

    We were thinking recently of perhaps selling this property without working on it and instead buying 1 bedroom apartment at a cheaper price therefore freeing up cash(profit) for a family house in the future and still keeping the apt.

    If we sell our current house, we will make a profit, question is, how does the tax situation work considering we want to buy an apt ?

    Thank you


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