Republic of Ireland first-time buyer grant seems very generous

[Fineapple12]

The rep of Ireland has a grant scheme for buying your first home , my cousin has just purchased her first home and had 20k saved, the government then gave her nearly 30k!!! Its madness....amazing but madness!! And no...they don't pay it back!! Wow

Are yoy talking about the Help to Buy? The amount received is set at a max of €30k. It all depends on how much tax you have paid in the last 4 years. So, some people will get less and if you have paid no tax you are not eligible to get it. You must be buying a new build or self build and be a first time buyer, live in it as your principle residence for 5 years and the property cannot cost more than €500k. Your mortgage must be a minimum of 70% of the cost of the house. Not everyone gets it, but it is a great scheme to help people.

Yes it’s quite a generous scheme, very helpful if you meet the criteria!! Great for those buying their first home 🙌

It is absolutely brilliant. As a single person buying a home here it really helped me. Also, it was great to get something back from the tax man. Fairly easy process too and they pay it straight to the developer. We are very lucky to have it.

They may have to up the price cap for some areas as housing prices here have gone nuts.

Isn’t this the scheme with all the stipulations, like it has to be a new build?

I think a lot of economists are against it. It’s supposed to stimulate construction of properties that first time buyers can afford. But there is little evidence that it works and it may be inflating prices.