Your property queires answered
Garden professionally landscaped
I am considering having my front garden professionally landscaped mainly to eliminate the need for maintenance. This is my first house and I intend staying here for three to five years before trading up. Two quotes for the job came in at around €8,000. As I don't consider this to be my house for life could you advise as to whether I will get this investment back when I sell?
A landscaped front garden is low on the list of most buyer's wish lists so, no, it is unlikely that buyers would be prepared to pay €8,000 more purely on the basis of the garden. Professionally landscaped gardens make a house attractive but don't expect a direct and corresponding return. It is unwise to consider high priced landscaping as a pure investment, a garden should primarily be about enjoyment. The advice to house sellers is always to make their front garden neat and tidy and that typically means cutting the grass, hiding the bins away, either altogether or behind some fencing or shrubbery, and generally making sure that the front of the house looks well-kept. Simple and relatively inexpensive things, such as hanging baskets and colourful pots, can also help. The big exception to all this is if you live in or near central Dublin and the work on the front garden would change it from pedestrian to vehicular access. With Quality Bus Corridors, restricted parking and general parking pressure on a lot of suburban streets, houses with off-street parking can in certain areas demand a premium - according to one agent as much as €50,000. You do mention that your motivation is to "eliminate maintenance" but unless you plan to concrete over your front patch (not advisable under any circumstances) then you should know that even gravel patches require some degree of maintenance.
A small apartment in Marbella
I own a small apartment in Marbella which I have had for the past six years. I bought it as an investment with a view to retiring there in 10 years time. I hope to pass it on either to my niece or my grand-niece when I die (though I am not planning to do that sometime soon!). Are there any tax implications that I should plan for or advise her of?
Ideally, you should have gone through all this before you actually bought your apartment - before buying any property in a foreign country it is always wise to get the professionals on board - an accountant and solicitor - to delve into the ins and outs from immediate tax implications to future inheritance laws. Have you made your will? If you own property in Ireland you should make a will. Anyone who owns property in Spain would normally be advised to make a will in Spain as well. Your Spanish apartment will form part of your estate for Irish inheritance tax purposes. It is likely to be subject to Spanish inheritance tax which is based on the market value of the property. This rate is on a sliding scale ranging from 7.65 per cent to 34 per cent. The amount of tax paid depends on whether the beneficiary already owns property in Spain and the relationship to the deceased. You should get legal advice in Spain and advise your possible beneficiaries of your intention particularly if either of them already owns Spanish property.
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Unfortunately, it is not possible to respond to all questions. The above is a representative sample of queries received. This column is a readers' service and is not intended to replace professional advice. No individual correspondence will be entered into.