04.08.2016 Home Insurance
Hoping to buy in 2018? With first time buyer mortgage approvals increasing by 31% in 2017 compared to the previous year, we know lots of people are. If you are a first-time buyer, the government sponsored help to buy scheme is an attractive offer.
The scheme is a tax rebate for first time buyers on new build properties. The programme has two goals, to help those trying to buy a home and to encourage developers to build more new houses.
You will receive up to 5% of the purchase price of the house or €20,000, whichever is the lesser in the form of a tax rebate of income tax and DIRT paid over a four-year period.
There are several key criteria to meet to qualify:
Once you satisfy those criteria, you may be a candidate.
In order to apply for the help to buy scheme as a PAYE worker, you must register with Revenue’s myAccount. To apply you must complete a declaration and choose the years you would like the refund from. Once you are found to be tax compliant you should qualify. When it comes to claiming you will have to submit documentation and confirm details about the property. A full list can be found on the Revenue website.
We know finding a property in the current market will be the most significant challenge you face so we hope to take some of the leg work out of it with 5 developments located around Dublin county that qualify for the first-time buyers grant:
Although the current phase of this west of the city development is sold out, you can register interest in the next phase of 3 and 4-bedroom A rated family homes due for release in April 2018. Close to Hansfield train station, a host of primary and secondary school options, this could be the perfect location if you work in the city but have or are planning a family.
Close to the cafés, bars and restaurants of Lucan village this mixed development includes apartments, 3 and 4-bedroom A rated homes. Lucan is a long-established. Dublin suburb with almost every conceivable amenity only a short drive away and great links with the city.
If you are looking for village life close to the city than Castlechurch in Newcastle could be the development for you. Containing 3, 4 and 5 bedroom homes are close to the luxury of The Cliff at Lyons and Avoca in Rathcoole. City West shopping centre and Luas stop are also nearby for shopping and commuting into the city.
Looking for a new build north of the city? Millers Glen near Swords could be a great option. The development of 3 and 4 bedroom homes is only a short drive from the town centre and north side entertainment hub. Of course, it is also the ideal spot for getting to the airport if you travel regularly for work or pleasure.
If apartment living is what you are looking for, Greenbank House is a new development near the stunning harbour town of Dun Laoghaire complete with harbour walks, weekend food markets and Teddy’s ice-cream (which is surely an amenity itself).
Although it might take some time, once you find your home all the effort will be worth it.
Protect the things you love with comprehensive home insurance from AIG Ireland, in Ireland for over 40 years, you can trust us to be there when you need us.