Affordable Homes in Ireland
What is an affordable home?
An affordable home is a home that you buy at a discount to the market price and you must live in it. If you sell it within 20 years, you will have to pay back a percentage of the sale price to the local authority.
How do I qualify for an affordable home?
To qualify for an affordable home, you should:
be a first-time buyer (there are some exceptions here. E.g. In the case where you are divorced. Check with your local authority.);
have enough income to meet your mortgage repayments after you have paid all your other costs; and
earn between €25,000 and €58,000 approximately if you are applying as a single applicant and up to €75,000 between you if you are applying with someone else. Check with your local authority for the exact income thresholds as these income limits may vary.
Which types of affordable homes are available?
A range of different properties are available to buy including one, two and three bedroom apartments and two and three bedroom houses. What makes these properties affordable is that they are available at prices that are much lower than the market value.
Who provides affordable homes?
Most affordable homes are in private developments. Usually a percentage of all houses or apartments in a private development are made available to be sold as affordable homes. These are sold at a discount to other homes in the development.
Another way of providing affordable homes is to build them on land owned by the local authority. Land owned by the Government has also been made available for affordable homes. Check with your local authority for details.
I'd like apply for an affordable home. What do I do next?
You apply to the local authority in the area where you want to live in. You can apply to more than one local authority. Local authorities include county councils, city councils, borough councils and town councils. There is more demand for affordable homes in some places than others. The number of affordable homes available may be limited in the area you prefer to live in. You should keep your options open by considering a number of alternative areas.
All local authorities have application forms for affordable homes. They may charge an application fee so check with your local authority. You need to complete the application form and submit it with supporting documentation such as proof of identity, either your passport or driver’s licence, P60, recent payslips and copies of recent bank statements.
On receipt of your application form your local authority will then make an assessment of your application to determine whether you qualify for an affordable home. You will receive a letter outlining the decision on your application.
I'm a non-EU citizen. Do I qualify for an affordable home?
You may apply for an affordable home if you have the right to live and work permanently in Ireland. If you are from a country that is a member of the European Union (EU) or the European Economic Area (EEA), you can apply for an affordable home as long as you are living and working in Ireland. Check with your local authority for full details if you are not from a country that is a member of the EU or EEA
To view affordable homes currently available visit www.affordablehome.ie