Buying a home in Ireland is a major milestone, but for many, the journey to homeownership is filled with financial challenges. Rising property prices, strict lending rules, and hefty deposit requirements often make it difficult for first-time buyers to get on the property ladder. Thankfully, the Irish government has introduced a range of initiatives to help. Each government support scheme is designed to make purchasing a property more accessible, particularly for those entering the market for the first time.
This guide explores the top home buying support schemes in Ireland, how they work, who qualifies, and how you can benefit.
What Is a Government Support Scheme for Home Buyers?
A government support scheme is a structured initiative offered by the state to ease the financial burden of buying a home. These schemes are particularly aimed at first-time buyers or those returning to the property market after personal or financial difficulties. Their purpose is to:
- Lower entry costs such as deposits
- Increase borrowing potential
- Provide financial contributions toward the property price
- Expand access to new-build properties
The schemes come in different forms, including tax rebates, shared equity arrangements, and affordable housing initiatives.
Help to Buy Scheme
One of the most well-known government support schemes in Ireland is the Help to Buy Scheme. This initiative offers a tax rebate of up to €30,000 to eligible first-time buyers, which can be used towards the deposit on a new-build property.
Key Features:
- Covers up to 10 percent of the property value
- Applies only to new-build homes valued under €500,000
- Based on income tax paid in the previous four years
Who Can Apply:
- Must be a first-time buyer
- Must have mortgage approval for at least 70 percent of the property value
- Must live in the property as their primary residence
This is an ideal option if your main challenge is saving for a deposit.
First Home Scheme
The First Home Scheme is a shared equity initiative that helps bridge the gap between what you can afford and the cost of the property. Under this government support scheme, the state takes a minority stake in your home in return for a financial contribution.
How It Works:
- Government provides up to 30 percent of the property’s purchase price
- No repayments are needed until you sell, remortgage, or buy out the government’s share
Eligibility:
- Must be a first-time buyer or qualify under the Fresh Start policy
- Property must be a new build and within price ceilings set by location
- Must have mortgage approval and sufficient income
Combining this with the Help to Buy Scheme can significantly ease the path to homeownership.
Local Authority Affordable Purchase Scheme
Another popular home buying support scheme in Ireland is the Local Authority Affordable Purchase Scheme. It allows first-time buyers to purchase a new home at a reduced price, with the local council retaining a proportional equity share.
Benefits:
- Access to new-build homes below market rates
- Up to 30 percent discount off the market price
- Council’s share is only repayable when you sell or refinance
Requirements:
- Must be a first-time buyer or qualify as a Fresh Start applicant
- Must meet local income limits and mortgage criteria
- Property must be purchased through participating developments
This scheme is particularly helpful in areas where private market prices are out of reach for many working households.
Rebuilding Ireland Home Loan
This low-interest mortgage scheme is administered by local authorities and is aimed at buyers who cannot secure a mortgage through conventional lenders.
Main Advantages:
- Fixed interest rates lower than commercial banks
- Loan term of up to 30 years
- Up to 90 percent of the property price covered
Who Qualifies:
- Must be a first-time buyer aged between 18 and 70
- Income limit of €50,000 for single applicants or €75,000 for joint applicants
- Must have been refused a mortgage by at least two lenders
This government support scheme is especially beneficial for individuals or couples with steady employment but limited borrowing power.
How to Buy a House in Ireland with Support
If you’re planning to buy your first home, taking full advantage of these schemes can make a significant difference. Here are a few steps to get started:
- Assess Your Budget: Understand your income, savings, and how much you can borrow.
- Explore Your Options: Review each scheme and determine which one fits your needs best.
- Check Eligibility: Each scheme has its own criteria based on income, property type, and location.
- Apply Early: Schemes often have limited availability or deadlines tied to specific developments.
- Get Expert Advice: Consult with a mortgage broker or use a platform like FindQo.ie to access available homes and professional guidance.
Final Thoughts
Navigating the property market as a first-time buyer can be overwhelming, but you don’t have to do it alone. Each government support scheme offers a path toward homeownership that is tailored to different financial situations. Whether you need help with a deposit, a top-up on your mortgage, or access to affordable homes, there is likely a programme that can help you.
Understanding how to buy a house in Ireland with support is the first step. By researching and combining the right tools, you can make informed decisions and move closer to owning your first home.
Explore Your Options at FindQo.ie
At FindQo.ie, we make it easy to find government-supported homes across Ireland. Connect with trusted agents, browse eligible properties, and access expert advice to make your first home purchase a success.
Visit today and discover the right government support scheme for your journey to homeownership.
