WHEN MINISTER FOR Finance Jack Chambers made yesterday’s Budget 2025 announcement, first time buyers in particular will have been listening closely for any announcement that could help them get their feet on the property ladder. 

An important first point for first-time buyers, are the significant expansions that have been made to the Help To Buy scheme. Originally due to elapse next year, the scheme has been extended to 2028. 

More homes than ever before are now eligible for the Help To Buy scheme. The maximum threshold, which previously stood at €500,000, has been increased to €614,000 for homes in Dublin – as part of a new measure that allows for regional variations on the cap in recognition of differing house prices across the country. 

The nature of the Help to Buy Scheme – which offers a tax rebate to first time buyers up to a maximum value of €30,000 (or 10% of the property price, whichever is less) – will remain the same heading into 2025. Prospective homebuyers can apply for the scheme by sending all of the relevant material to Revenue online. 

HTB applies to new builds only. These new builds come with a minimum A2 BER, and many recently built homes have integrated sustainable practices, such as solar panels, into the property, which keep energy costs low and save you more money in the long-run.

The nature of new build communities also means that you are more likely to be situated in a neighbourhood with people at the same stage of life as you. 

Greville Park, a new collection of A-rated, beautifully designed Glenveagh homes in the bustling town of Mullingar, just an hour from Dublin, is perfectly suited for first-time buyers and qualifies for the Help-To-Buy Scheme. 

 Let’s take a two-bed property in Greville Park as an example of how you can avail of both schemes together. The home purchase price is €310,000- and first-time buyers are required to have a deposit of 10% of the property value.

With the Help to Buy scheme, you can get a maximum of €30,000 towards your deposit, meaning the remaining deposit needed is €1,000. This means the mortgage needed to purchase the home would be €279,000 (less Help-to-Buy and deposit).

Glenveagh is one of Ireland’s leading community builders. For more information or to discover your next home, visit Glenveagh.ie.