Help to Buy Scheme: Your Guide to a Brighter Future
What is the Help to Buy Scheme?
The Help to Buy Scheme is a government program that gives first-time buyers a tax rebate of up to €30,000 for the deposit on a new build home (up to €500,000), making homeownership more affordable.
How much can you claim?
The Help to Buy Scheme offers a maximum rebate of €30,000 or 10% of your new build's purchase price (whichever is lower). The scheme only applies to properties under €500,000.
Who Qualifies for the Help to Buy Scheme?
First-time Buyer
New Build Property
Income Limits: There may be income limits in place to ensure the scheme helps those who need it most.
Find out more at the Revenue.
Find out more at the Revenue
The First Home Scheme is a separate Irish government program designed to help first-time buyers purchase a home (existing or new) by providing shared equity.
Here's a breakdown:
Shared Equity: Instead of a straight rebate like the Help to Buy Scheme, the First Home Scheme allows the government to take a stake (ownership percentage) in your property in exchange for providing funds towards your down payment.
Bridging the Gap: This scheme helps bridge the gap between your deposit and the total cost of the property, making it more affordable.
Not Limited to New Builds: Unlike the Help to Buy Scheme, the First Home Scheme can be used for existing homes as well as new builds.
This program can be a good option if you're a first-time buyer struggling to save enough for a full deposit, but it's important to understand that you'll be sharing ownership with the government until you buy back their stake.
First Home Scheme
