Your Journey Starts Here
First-Time Buyers
Everything you need to know about buying your first home in Ireland. We make the process simple, transparent, and affordable.
Financial Support
Schemes That Help You Buy
There are several government schemes designed to help first-time buyers get on the property ladder. Here’s what’s available to you.
Help-to-Buy Scheme
A tax refund of up to €30,000 (or 10% of the purchase price) for first-time buyers purchasing a newly built home. This can be used towards your deposit.
- Must be a first-time buyer
- Property must be newly built
- Max property value €500,000
- Must take out a mortgage of at least 70%
Affordable Purchase Scheme
Through Limerick City and County Council, eligible buyers can purchase homes at below market value. The Council retains an equity share, reducing the price you pay.
- Below market value pricing
- Income eligibility criteria apply
- Available at Bru na Gruadan
- Can combine with Help-to-Buy
First Home Scheme
A shared equity scheme where the State and participating banks pay up to 30% of the cost of your new home, bridging the gap between your mortgage, deposit, and the price.
- Up to 30% equity support
- No repayments for first 5 years
- Available on new-build homes
- Can be used with Help-to-Buy
Buying Guide
Your Step-by-Step Guide
Buying your first home can feel overwhelming. Here’s a clear, simple roadmap to guide you through the process.
Check Your Budget
Speak to a mortgage broker or your bank to get mortgage approval in principle. This tells you how much you can borrow and sets your budget.
Apply for Schemes
Apply for the Help-to-Buy scheme through Revenue.ie. If interested in our affordable homes, apply through Limerick City and County Council’s affordable housing scheme.
Choose Your Development
Browse our developments and find the right home for you. Contact our team to arrange a viewing or get more information about available properties.
Reserve Your Home
Once you’ve found the right home, pay a booking deposit to reserve it. Your solicitor will handle the legal side of the purchase.
Finalise Your Mortgage
Convert your approval in principle to a full mortgage offer. Your mortgage broker can help ensure you get the best rate available.
Collect Your Keys
Once contracts are signed and your mortgage is drawn down, it’s time to collect your keys and move into your new Formation home.
FAQs
Common Questions
Ready to take the first step?
Our team can walk you through the schemes, show you around our developments, and help you find the right home for you.