A new community of high-quality homes, launched in Athlone this summer.
Glenveagh’s Gracefields @ Drumaconn comprises of energy efficient, A-Rated 2, 3, 4 and 5 bed family homes, with three-bedroom houses starting from €355,000.
Excellent transport routes offer ease of access to the new community which is located just off the N55 main road and close to the M6 motorway offering links to Dublin and Galway.
Gracefields @ Drumaconn is a wonderful addition to the popular Drumaconn area, offering growing families an opportunity to put down roots in this amenity-rich, friendly neighbourhood. The local neighbourhood is packed with well-established, vibrant sports clubs, including football, GAA, rugby, and golf.
First-time buyers in the area can get up to €30,000 towards their deposit through Help-to-Buy. This incentive consists of a tax refund available to first-time buyers only, and full details are available on Revenue.ie
The First Home Scheme (FHS ) can help you bridge the difference between your deposit (which can consist of Help-to-Buy ), four times your income (as per central bank rules ) and the market value of the property. FHS can bridge this gap up to 30%, this is reduced to 20% if you are also availing of Help-to-Buy.
Let’s take a three-bed property in Gracefields @ Drumaconn as an example of how you can avail of both schemes together:
Help-to-buy:
·Property Purchase Price: €355,000
· Max Help-to-Buy contribution to deposit (for qualifying applicants ): €30,000
· Remainder of deposit needed: €5,500 (Deposit is 10% of the property value )
· Total deposit: Help-to-Buy and savings/buyer contribution: €35,500
· Mortgage required: €319,500
Under the current central bank rules, mortgages can account for up to four times the combined salary of applicant(s ). The First Home scheme can bridge any difference between the deposit and mortgage to the value of 20% when using in conjunction with the Help-to-Buy scheme.
For example, a mortgage applicant(s ) salary of €70,000 gives you a max mortgage of €280,000 from the required amount of €319,500 from the above example (less Help-to-Buy and deposit ). The difference of €39,500 can be bridged using FHS. There is no charge for the first 5 years, a maintenance charge is applied after then. For more information, check out firsthomescheme.ie
For further information on Gracefields @ Drumaconn and to request a viewing, register your interest today at www.gracefields.ie
