The years of 2024 and 2025 are set to be an exciting and busy time for new Homes in Galway city and county.
In a market where demand is far exceeding supply, the new homes market is tough and an intense one to navigate, especially for first time buyers. Buying a new home has many advantages over buying second hand, especially when starting out in the property market, but it does put extra pressure on buyers too as the demand for these new homes tends to be high.
First-time buyers will favour new homes for many reasons – they are usually pretty perfect starter homes and being ready to move into straight away with little or nothing to do, is extremely attractive to already time-pressed buyers and young families. New homes also have the added benefit of lower running costs as all will be A rated and feature heat pump technologies, both environmentally friendly and cost efficient.
Financial savings
From a financial point of view, new homes are favoured by first-time buyers for the financial savings they can provide. The Help to Buy scheme, has been hugely successful in helping first-time buyers gather the considerable deposit required in order to purchase their new home. Other schemes such as the First Homes Scheme and Affordable Housing Scheme are also growing in popularity. These schemes help to bridge the gap between the mortgage a person/couple qualify for and the price of a new home allowing more and more people get on the property ladder.
“Demand for new homes has been strong for the past couple of years with New Homes Schemes such as Leana Mor, Cappagh Road and Garrai na Sailli on the Letteragh Road selling out almost immediately. 2024 will see Burkeway Homes launch the final phase of housing at Garrai na Sailli, Letteragh road. With Phases 1 and 2 already sold out and building in full swing, it won’t come as surprise that demand for the 3rd phase of these quality homes is already high," said Mairead Leonard, Managing & New Homes Director for DNG Maxwell Heaslip & Leonard.
“We have a number of New Homes schemes in the pipeline, details of which will be released in the coming weeks and months. Some of these schemes will feature affordable housing options which will appeal to many first-time buyers – you can contact the agents directly for more information on release dates.”
