I am a returning Irish citizen, having spent 14 years in the UK. My husband and I bought our first house in the UK four years ago and are now looking to buy in Ireland. I have a public-sector job here, and with our savings and funds from the sale of our home in the UK, we have a good deposit towards a home, but the cost of housing is significantly higher than it was where we were in the UK. Are there any schemes that help returning emigrants? It seems that schemes for first-time buyers and those who qualify under the fresh start principle don’t apply to us.
It’s understandable that finding an affordable home in Ireland can feel daunting, especially given the current market pressures. Property prices have indeed increased by about 10 per cent over the past year and with lower supply levels competition can be challenging. While there are numerous supports for first-time buyers, unfortunately, there’s less direct assistance available for returning emigrants or those looking to trade up. However, there are some grants that you could take advantage of when buying a property, especially if you’re open to a home that might need some renovation.
Refurbishment grant
The Vacant Property Refurbishment Grant could be a strong option if you’re considering properties that need some work. Through this grant, you could receive up to €50,000 to help refurbish a vacant property and up to €70,000 if the property is deemed derelict. The grant can be especially beneficial in rural areas or smaller towns where vacant properties may have lower upfront costs but strong potential once renovated.
Energy scheme
You can layer the Vacant Property Refurbishment Grant with an energy-efficiency grant from the Sustainable Energy Authority of Ireland (SEAI), through the Better Energy Homes scheme. This scheme provides grants to make your home more energy efficient, covering upgrades such as insulation, heat pumps and solar panels. The improvements can help reduce energy bills over time, making it a valuable investment in both comfort and savings.
Location
As you’re already aware, property prices vary widely by region, so your choice of location can make a big difference. If you’re open to exploring areas outside major urban centres, you may find better value. Rural or semirural areas often have properties that are not only more affordable but may also qualify for the refurbishment and energy grants. If proximity to a city isn’t essential, this approach could help you find a home that fits your budget while allowing you to benefit from available grants.
To help you stay focused, consider making a list of your top priorities for the property – such as the number of bedrooms, proximity to work or family and essential amenities such as public transport. This will help guide your search while also giving you some flexibility in exploring areas that offer good value.
Mortgage options
While there isn’t a specific government scheme tailored to returning emigrants, many Irish banks and mortgage providers offer tailored products for citizens moving back from abroad. This can sometimes include flexible requirements around financial documentation if some of your credit history is overseas. It’s worth speaking with a mortgage adviser who understands the needs of returning emigrants, as they can help navigate options and identify any specialised products that may be beneficial.
Renovation opportunity
Taking on a vacant or derelict property may feel like a bigger step but it can be a worthwhile investment. Renovating not only allows you to personalise your home but also can build equity as property values rise. The grants available for these types of properties can help reduce your upfront costs, making it an attractive route for many buyers, especially as demand for quality housing continues to grow.
[ Where to spend and where to save when renovating your homeOpens in new window ]
Connecting with local estate agents and joining their mailing lists can keep you updated on new listings that match your criteria and alert you to opportunities quickly in this competitive market. Finally, seeking guidance from a mortgage broker can help you navigate financing options, especially as a returning emigrant.
Majella Galvin is an estate agent and a member of the Society of Chartered Surveyors Ireland
Do you have a query? Email propertyquestions@irishtimes.com
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