Many homeowners and prospective buyers may not realize that they can claim up to €84,000 from the Department of Housing, Local Government and Heritage to help refurbish a vacant or derelict property. This initiative aims to encourage the restoration of unused homes, making them habitable once again while easing the housing crisis in Ireland.
With numerous vacant and derelict homes available for purchase at lower prices than new builds or well-maintained properties, the cost of renovations can be a significant hurdle. Fortunately, the Vacant Property Refurbishment Grant provides a financial boost to help cover these expenses.
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What Is the Vacant Property Refurbishment Grant?
The Vacant Property Refurbishment Grant is designed to support those looking to renovate vacant or derelict residential properties. It can also be used for non-residential properties that were previously commercial or public-use buildings, provided they now have the appropriate planning permission for residential conversion.
The scheme is funded by the Department of Housing, Local Government and Heritage through the Croí Cónaithe (Towns) Fund and is administered by local authorities.
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Who Is Eligible for the Grant?
To qualify for the grant, applicants must meet specific criteria:
- Vacancy Requirement: The property must have been vacant for at least two years before the application. Properties left purposely vacant to claim the grant will not qualify.
- Age of Property: The property must have been built before 2008. (Prior to May 1, 2023, only homes built before 1993 were eligible.)
- Ownership: The applicant must either own the property or be in the process of purchasing it.
- Primary Residence or Rental: The property must be used as the applicant’s principal private residence upon completion or made available for rent. If rented, the tenancy must be registered with the Residential Tenancies Board.
- Tax Compliance: Applicants must have tax clearance from Revenue and be up to date with Local Property Tax payments (if applicable).
- Business Restrictions: The grant is only available to individuals; companies or property developers are not eligible.
How Much Can You Claim?
- Up to €50,000 is available for the refurbishment of a vacant property.
- Up to €70,000 can be granted for derelict properties.
- These amounts include VAT on renovation works.
- For those living on offshore islands, funding is increased by 20%, bringing the maximum to €84,000 for derelict homes and €60,000 for vacant properties.
How to Apply
Applying for the grant is straightforward:
- Download the application form from your local authority’s website.
- Complete the form with all necessary details and provide supporting documentation.
- Submit the application to your local authority.
More details, including required documentation and eligibility conditions, can be found on your local authority’s website.
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Don’t Miss Out on This Opportunity
With rising living costs and a shortage of affordable housing, the Vacant Property Refurbishment Grant presents a golden opportunity for homebuyers and investors to restore unused properties. Whether you are looking to create your dream home or invest in rental property, this grant can significantly ease renovation costs. If you meet the eligibility requirements, start your application today and take advantage of this valuable financial aid.