House hunters across Ireland face an uphill battle; property prices are through the roof, interest rates remain high, and it’s a seller’s market to boot.
It can seem like a minefield at times, but there are several grants and schemes to choose from to help mitigate these challenges, including the First Home Scheme and the Vacant Property Refurbishment Grant.
The latter is an increasingly popular choice among home hunters nationwide, and it could be the right one for you.
But what is it?
The Vacant Property Refurbishment Grant is a payment offered to eligible homeowners to transform a vacant property into a permanent home or rental property.
If you qualify for the grant, you can access up to €50,000 to renovate a vacant property and a top-up of €20,000 if the property is also derelict.
Although just four Vacant Property Refurbishment Grants were issued between January 1 2023 and June 30 2023, with none at all issued in 2022, it’s a worthy scheme to apply for if you meet eligibility criteria.
So am I eligible?
To qualify for the grant you must meet a number of conditions; this includes having proof of ownership or evidence of active negotiations to buy the property in question, and proof the property will be your principal residence when completed, or be made available to rent.
You must have tax clearance from Revenue, your Local Property Tax must be paid (if applicable), and you must not be a registered company or developer.
Proof that the property (which must have been built before 2008) has been vacant for at least two years is also required. However, you will not qualify if the property has been left unreasonably or purposely vacant just so you can get the grant.
How much can I get?
This all depends on the