In Ireland’s competitive property market, purchasing a home for the first time can be both exciting and overwhelming. Many first-time buyers struggle to meet the high upfront costs, even when they have stable incomes. This is where the Housing Scheme for First-Time Buyers comes in, offering practical support through local authorities.
This government initiative helps eligible buyers secure newly built homes at discounted prices, bridging the gap between what you can afford and what’s available. If you’re trying to make your way onto the property ladder, this guide will walk you through everything you need to know about the Local Authority housing scheme for first-time buyers, from how it works to who qualifies.
What Is the Housing Scheme for First-Time Buyers?
The Housing Scheme for First-Time Buyers is a shared equity initiative that allows local authorities to offer newly built homes to eligible applicants at reduced prices. In exchange for the discount, the local authority takes a percentage equity share in the property.
This means buyers pay less upfront, while still owning and living in their home. There are no interest charges or monthly repayments on the equity portion. Repayment is only required if you sell, remortgage, or choose to buy out the local authority’s share in the future.
The aim of this first-time buyer affordable housing scheme is to make homeownership more accessible without compromising long-term stability or financial wellbeing.
How Does the Scheme Work?
The structure of the Housing Scheme for First-Time Buyers is designed to provide immediate financial relief without creating long-term debt. Here’s how it typically works:
Discounted Home Price
When you purchase through the scheme, the local authority offers a discount of up to 30 percent on the market value of the home. This makes the home more affordable from the outset.
Local Authority Equity Share
The value of the discount becomes the local authority’s equity stake. For example, if you receive a €60,000 discount on a €300,000 home, the authority holds a 20 percent share.
No Monthly Repayments
There are no ongoing payments on the equity share. It only needs to be repaid when you sell, remortgage, or decide to buy back the share from the local authority.
Ownership and Flexibility
You still own the home and live in it like any other homeowner. You can repay the equity share in full or in part, based on the home’s market value at the time of repayment.
This model gives buyers the flexibility to build financial stability while benefiting from immediate Local Authority housing support in Ireland.
Who Is Eligible?
The Housing Scheme for First-Time Buyers targets individuals and families who are not eligible for social housing but need assistance purchasing a home. You may qualify if:
- You are a first-time buyer, or meet the Fresh Start criteria (e.g. following divorce, separation, or insolvency)
- You have no legal interest in another residential property in Ireland or abroad
- You intend to use the property as your main residence
- Your gross annual household income is below the income limit set by your local authority (typically €66,000 in Dublin and €59,000 in other areas)
- You can secure a mortgage of at least 70 percent of the purchase price
- You have access to a deposit of at least 10 percent (Help to Buy can be used)
Some local authorities may apply additional conditions such as residency requirements, family size, or local employment.
Where Is the Scheme Available?
The Housing Scheme for First-Time Buyers is available through local authorities across Ireland. While availability may vary, more developments are being launched each year as part of the national Housing for All plan.
Current areas offering affordable homes include:
- Dublin City
- South Dublin
- Fingal
- Cork City and County
- Galway
- Meath
- Kildare
- Limerick
To check availability in your area, visit your local authority’s website. Listings typically include house types, prices, locations, and application opening dates.
How to Apply for Local Authority Housing Scheme
If you’re ready to apply for the Local Authority housing scheme, follow these steps:
Step 1: Stay Informed
Monitor local authority websites and social media for announcements about new housing developments under the scheme.
Step 2: Review Eligibility
Ensure you meet the income and deposit requirements. Each scheme will specify the maximum income threshold, deposit minimum, and mortgage approval conditions.
Step 3: Prepare Documentation
Gather all necessary documents, including:
- Mortgage approval in principle
- Recent payslips and P60
- Photo ID
- Proof of deposit
- Confirmation of first-time buyer status
Step 4: Submit Application
Complete the application form available on the local authority website. Be sure to provide accurate and complete information to avoid delays.
Step 5: Assessment and Offer
Applications are assessed based on need, eligibility, and available supply. If successful, you’ll receive an offer and be invited to proceed with the home purchase.
Step 6: Legal Agreements
You will sign a shared equity agreement with the local authority. This outlines the terms of the equity share, repayment conditions, and your responsibilities as a homeowner.
Benefits of the Housing Scheme for First-Time Buyers
This scheme offers a range of benefits that make homeownership more achievable:
- Lower purchase price, making homes accessible to more buyers
- No interest or monthly repayments on the equity share
- Security and flexibility through homeownership
- Pathway to full ownership, with the option to repay the equity at your own pace
- Government-backed, offering greater trust and transparency
For many, this scheme is the only viable route to owning a home in a market where affordability is a growing concern.
What to Consider Before You Apply
While the scheme is attractive, it’s important to consider a few key details:
- The equity share must be repaid eventually
- The repayment amount is based on the property’s market value at the time of repayment
- You may be restricted from renting out the property without approval
- Selling, remortgaging, or transferring ownership triggers the need to repay the local authority’s share
- You should seek legal and financial advice before entering into any shared equity agreement
Understanding these conditions will help you make a confident and informed decision.
Is This the Right Scheme for You?
The Housing Scheme for First-Time Buyers is an ideal solution for those who fall into the affordability gap: earning enough to service a mortgage but unable to meet current market prices. It provides vital Local Authority housing support in Ireland and gives buyers an achievable path to full homeownership.
If you meet the eligibility criteria and are ready to take the next step, this could be the opportunity you’ve been waiting for.
Take the Next Step with FindQo.ie
At FindQo.ie, we’re dedicated to helping first-time buyers across Ireland connect with local agents, discover new developments, and navigate government housing schemes. Whether you’re ready to apply or just researching your options, we’re here to support your journey.
Visit FindQo.ie today to explore housing schemes in your area and begin your path to owning your first home.
