Home/News & Views/Help-to-Buy (HTB) Scheme Prompts 125% Increase in New Home Searches
Help-to-Buy (HTB) Scheme Prompts 125% Increase in New Home Searches
The help-to-buy scheme was officially launched at the start of 2017 and, as a result, there has been a 125% increase in new home searches recorded on Daft.ie. Limerick was among the counties with the greatest number of searches along with Dublin, Kildare, Wicklow, Meath and Wexford.
As the cost of rent continues to increase, many people are now more attracted to buying a house rather than renting.
The help-to-buy initiative aims to:
assist first-time buyers by refunding Income Tax and DIRT paid over the previous four tax years.
refund 5% of the cost of the property with a maximum limit of €20,000.
allow the refund to go towards a deposit required for the mortgage.
The scheme specifies that first-time buyers must live in the house or apartment as their home. The help-to-buy scheme applies to residential property purchased or built between the 19th July 2016 and the 31st December 2019.
At Keating Connolly Sellors, we have an established reputation for providing expert residential property services. We understand purchasing a property is both an exciting and stressful time for our clients however, we aim to make it a smooth transaction from start to finish. We work hard to deliver an efficient and good value service.
Ian Sheehy, Partner at Keating Connolly Sellors, heads up the Private Client Department at the firm and has extensive experience in residential property transactions. If you are purchasing/selling a property, contact Ian at [email protected] or call +353 (0)61 414 355 or +353 (0)61 432 308.
The material contained in this article is for general information purposes only and does not constitute legal or other professional advice. We advise people to always seek specific expert advice for their individual circumstances.