TYPES OF PROPERTY
- Detached: not joined to another building
- Semi: joined to a building on 1 side
- Terrace: joined to buildings on 2 sides
- Staggered terrace: joined to buildings on 2 sides, at different levels
- Link detached: a small part of the house (often the garage) is joined to another building
- Townhouse: tall, thin building, usually 3 floors or more
- Flat: apartment
- Penthouse: apartment at top of the building
- Maisonette: apartment across 2 levels, often with own door to the street
- Duplex: apartment across 2 levels
- Split-level: apartment or house with different levels
- Mansion flat: apartment in old purpose-built brick building
- Conversion: apartment created within an older building
- Studio: apartment without separate bedroom
- Pied-a-terre: very small city flat (aimed at people who have another home)
- Bungalow: house with one level
- Cul de sac: road you cannot drive through
- Park home: static caravan on a site with other caravans
PROPERTY DESCRIPTION
- Master: largest bedroom. Sometimes called the principal or primary bedroom
- En suite: bedroom with private bathroom/shower room
- Box room: very small room
- Cloakroom: downstairs toilet room (W.C)
- Hotpress: a heated cupboard where clothes, sheets, etc. that have been washed and are almost dry are put so that they can become completely dry:(ex. Airing cupboard)
- Reception room: dining/sitting room on ground floor
- Lounge: sometimes called a sitting room or drawing room
- VGC: very good condition
- Executive: modern, bigger than average
- Double fronted: windows either side of the front door
- Bay fronted: bay window at the front
- Dual aspect: windows on two sides
- Mezzanine: upper level within a big (split level) room
- No chain: The person selling the property is not trying to buy another property. Sometimes called no upper chain/no onward chain
- GCH or GFCH: gas central heating
- OCH or OFCH: oil central heating (Kerosene)
- STPP: subject to planning permission
BUYING
- Freehold: You own the property and the land
- Leasehold: A long-term set of rights to property that someone else owns
- SSTC or STC: Sold (subject to contract). The property owner has accepted an offer on the property, but no legal contracts have been exchanged
- Shared ownership: Usually refers to a government incentive/support scheme that helps people buy a home (example 30%/70% owned)
- Land Registry: A governmental body that holds records of all registered properties in Ireland
- Folio: Property registered in the Land Registry is registered in a document called a Land Registry Folio. Each folio has its own distinct number with the details of the registered property.
- LPT: Local Property Tax (payable yearly).Commonage: Land that is owned by more than one person. Typically each shareholder owns a defined fraction of the total area and this is detailed on each shareholders folios.
- Service charges: Money you have to pay for services like lifts, garden maintenence, exterior painting, porters (concierges) and general maintenance. Service charges can be very expensive!
- Stamp Duty: A tax paid by the buyer to the government on completion of a property sale Currently 1% of the purchase price up to €1m (Dec2024))
- Ground rent: Regular rental payment for leasehold property.
- BER: Building Energy Rating Certificate.
- POA: price on application
- Neg.: negotiable
- Offer – An amount (or bid) by a buyer to a seller indicating the price they are willing to pay for a property
- OIRO: Offers in the region of
- OIEO: Offers in excess of
- Negative Equity: When the property value is less than the outstanding balance of a mortgagE.
RENTING
- Tenants – Those living in a property that is owned by a landlord
- Landlord(s): Property owners, either private or entity, which owns the buildng (house) and then leases it out to tenants in return for rent payment
- RTB: Residential Tenancies Board
- PCM: Per calendar month
- PW: Per week
- Dep: Deposit payable (usualy equal to 1 months rent, held as security against damages and rent arrears)
- Bedsit/ bedsitter: room used as bedroom and living room combined, within a shared house. Usually has own kitchen, but not own bathroom
- HAP: The Housing Assistance Payment (HAP) is a social housing support provided by local authorities. It supports people who have a long-term housing need.