The Help to Buy (HTB) scheme is an incentive for first-time property purchasers to help with the deposit needed to purchase or self-build a new house or apartment.
To be eligible for HTB, you must purchase or build the property to live in as your home.
Some of Irish solicitor Terry Gorry’s TikTok video’s cover the property industry, one of these being an explanation of what you need if you wish to apply.
“The Help to Buy Scheme is a scheme administered by the Revenue, and is a very good scheme to get people on the property ladder.”
“In order to claim it, you must; one: be a first-time buyer, two: buy or build a new property, three: live in the home as a main home for five years after buying or building, and four: be tax compliant”.
“The maximum is €30,000 for house relief – €30,000 or five pc of the purchase price, or the amount of income tax and DIRT tax paid in the four years prior to the allocation,” he said.
“It’s the lesser of those three – so the maximum you may be entitled to will be €30,000.”
To qualify for Help to Buy, you must not have previously purchased or built a house or apartment, either on your own, or jointly with any other person.
To find out more, see here .
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