Renting Out My House While Travelling!

Hi All,

Looking to buy with my girlfriend in early 2010 (all things going well and provided we can get a good deal). To subsidise the mortgage we are hoping to take in a lodger. However we are planning on going travelling for 8 months in early 2012 (ie 2 years after purchasing).

We were hoping to rent out rooms in the house during our absence to effectively pay the mortgage. As we are 1st time buyers we wont be paying stamp duty but were worried the tax man may hear and hammer us for stamp duty. We always plan to leave one room vacant (our room) so it would still be our principle private residence.

Anyone know if we can do this/have any advice to get best result??

citizensinformation.ie/categ … stamp_duty

I’d call the revenue. This one is a bit different. The rent-a-room scheme also covers rooms! (not just one), as long as the total amount earned in a year doesn’t exceed 10K. You have to be able to go on a holiday - the question is how long of a holiday is acceptable to the revenue.

Why buy before travelling? I have to say I’d do the travelling first and then buy.

I think you’ve broken the record for red light signals in a post. :open_mouth:

this is complete madness.

I know saying “going travelling” sounds cooler than “going on holidays” but you’regoing on holidays. Why not ring the revenue? If you think that you need a lodger to subsidise your mortgage, then maybe you should reassess your plans.