LOOKING FOR YOUR first home and want to buy in Dublin?
Donabate, a gorgeous town in north Dublin, should be on your radar. It boasts a fantastic location just off the M1 near Malahide, Swords and Dublin Airport as well as offering easy access to the capital for those who drive or take public transport.
Despite its proximity to the city centre, it is surrounded by nature and a number of excellent beaches, including the Blue and Green Flag Balcarrick Beach. Donabate has a real sense of community and cohesion with friendly, welcoming residents.
If Donabate sounds like an attractive option, Glenveagh’s latest community in Balmoston could be the perfect choice for you. Located on a newly-built road that runs alongside Donabate village, it has easy access to the many amenities in the area, and is just three minutes by car from the beach.
Balmoston is one of the largest housing communities in the country, with plenty of options and house types to suit your needs. These include one-bed apartments from €295,000, two-beds from €420,000, three-beds from €495,000 and four-bed detached/semi-detatched houses from €605,000, and each home comes with its own parking space.
Buying in Balmoston would mean enjoying the various amenities available in the area. It’s just a short spin from the Pavilions Swords Shopping Centre which boasts over 100 global and national retailers to choose from.
As for nature, enjoy strolls along the sandy beaches in the area or the Donabate Cliff Walk. Visits to Newbridge House and Farm or the Turvey Nature Reserve area are also fun trips for the whole family.
For fans of sport, there are plenty of clubs and gyms to join in the area. St. Patrick’s Donabate is the area’s local GAA team, with a number of soccer teams as well as golf and tennis clubs operating in the area.
To further enhance the area’s sporting credentials, Fingal County Council is currently constructing a brand new recreational centre just a short stroll from the Balmoston community. The Ballymastone Recreational Hub will provide plenty of sporting facilities such as a running track, floodlit pitches, a playground and a skatepark, and is a true testament to the various efforts being put into creating more world-class facilities for Donabate.
The easily accessible location of Balmoston means you’re well connected to the village of Donabate and Dublin. The train station is conveniently located just a 10-minute walk from the new community, so you can sit back and enjoy the option of a stress-free commute into the city via fast and frequent bus and train routes.
All of the homes in the community are energy efficient with a minimum A-rating on the BER scale. They can also generate their own energy, thanks to solar technology, and are cheap to keep warm, with air tightness and insulation a key focus.
Balmoston is perfectly suited for first-time buyers as it qualifies for both the First Home Scheme, the Help To Buy Scheme and the Local Authority Affordable Purchase Scheme (in partnership with Fingal County Council).
Let’s take a three-bed property in Balmoston as an example of how you can avail of all the schemes together. The home purchase price is €495,000 and first-time buyers are required to have a deposit of at least 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 cash deposit is only €19,500. This means the total mortgage needed to purchase the home would be €445,500. For more information on the Help to Buy scheme, check out Glenveagh’s site.
The First Home scheme can bridge any difference between the deposit and the mortgage up to the value of 20% of the property price (when used in conjunction with the Help to Buy scheme).
Under the current central bank rules, mortgages can account for up to four times the gross salary of applicants. For a mortgage applicant(s) with a salary of €90,000, that equals €360,000. If we combine the deposit and the maximum approved mortgage, this still leaves us with a shortfall of €85,500 compared to the purchase price.
This is where the First Home Scheme comes in, by providing that €85,500 in return for a 17.2% equity share in the property.
With the First Home scheme, there is no charge for the first 5 years, and a maintenance charge is applied after that. For more information, check out Glenveagh’s site.
For further information on Balmoston and to request a viewing, register your interest here.
Balmoston is brought to you by Glenveagh, one of Ireland’s leading community builders.
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