New First Time Buyers’ Scheme to benefit those building their first home – Deering

14th October, 2016

Fine Gael Carlow TD, Pat Deering, has said that new First Time Buyers’ Scheme, announced as part of Budget 2017, will benefit those building their own first home.

“Budget 2017 allocates significant funding of €1.2 billion for the Government’s housing action plan entitled, Rebuilding Ireland – an Action Plan for Housing and Homelessness.

“An innovative measure in this plan is the help to buy scheme designed to help first time buyers get on the property ladder and to increase the supply of housing. It will be available to first time buyers from 19th July 2016 to the end of 2019 and will involve a 5% tax rebate for first time buyers on new builds up to €400,000. A maximum rebate of €20,000 will apply to properties from €400,000 to €600,000, and no rebate will be available for properties above €600,000.

“An element of the scheme which many people are unaware of is the fact that it also applies to those who are building their first home.  

“It has been confirmed to me by Minister Simon Coveney that the Help to Buy incentive is also designed to assist those who self-build a new house or apartment as their first time home. I have no doubt that this will come as welcome news to many people in rural Ireland. 

“Budget 2017 is another stepping stone in Fine Gael’s plan to use a strong economy to help make people’s lives better. Thanks to the careful economic management of recent years we now have the resources to target investments in key public services that will make a real difference to people’s lives. Meeting the housing needs of our people is a major part of this plan.”