So you finally own your own home
Congratulations. You own your own home. The purchase of a home has never been a cheap or easy task. It has always been a considerable achievement, and most likely always will be.

Home ownership brings with it certain rights and responsibilities. We discuss these here.

Property Rights
The Constitution prevents the State from passing any law that interferes with a citizens right to own, transfer and inherit or bequeath property.

The State may in certain circumstances interfere with with these rights for the greater good. An example of this would be a compulsory purchase order. In doing so they must compensate the citizen(s) in question.

Family Home Protection Act
The Family Home Protection Act 1976 ensures that a family home can not be sold unless both spouses agree in writing to the sale.

Even if one of the spouses is the sole owner, the sole name on the deeds and mortgage, and the sole person who pays the motgage, the protection still applies and both spouses most consent to the sale.

The protection only applies to the family principal primary residence. It does not apply to second homes or investment properties.

The protection also does not apply to the homes of unmarried couples including same sex couples.

Ground Rents
You might assume that when a person buys a property they own it outright. This is not always the case. You can own either the freehold or the leasehold to a property.

To own the freehold means you own the property and it's land outright.

Owning the leasehold means that you own the building, but not the land that the building stands on. You will potentially be liable for an annual ground rent to the owner of the land.

Leasehold is more common in towns and cities, and usually involves property owned by local authorities, or multi-unit developments such as apartment buildings which are almost always leaseholds.
The annual management fee in apartment buildings covers the ground rent.

Owners of leaseholds, or those purchasing proeperties which were formally leasehod, have the option of buying the property outright, and becoming freehold owners.

Rent-a-Room Scheme
Home owners are entitled to earn up to €10,000 a year tax free by renting a room in their home. This is allowed regardless of the level of any other income from other sources.

However, income from the rent a room scheme can affect social welfare payments.

Do not enter into a rent-a-room arrangement either as a landlord or tenant without being fully aware of what you are getting into.

Rent-a-room tenants are offered far less protection than tenants of regular landlords. There aren't even any minimum living standards.

Citizens Information offers further information on the scheme.

Management Companies
Management Companies have long been the method of choice for looking after the common areas and structures of apartment buildings. They are becoming more common in housing estates and gated communities.

The Management company collects the fees necessary for it's operation. The homeowners own the management and as such set the fees, select service providers etc.

A problem that arose during the boom with management companies was that the construction companies that built apartment developments would also control the management companies.

In situations where the majority of the units in a development were unsold those who had bought were at the mercy of the management.

The National Consumer Agency has published a detailed guide to Multi-Unit Living.