Applications open to buy one of Tipperary’s first affordable homes for as little as €250,000
Applications for the first affordable housing scheme in Tipperary have officially opened to the public.
The Starter Homes Scheme, formerly known as affordable housing, is being developed in Clonmel by Morrissey Construction.
The plan is for two-, three-, and four-bedroom homes at Whitethorn, Moangarriff, which will be sold to approved buyers for less than the market value.
Tipperary County Council has opened the applications portal for those who are eligible for the scheme and are interested in applying.
The scheme is designed to bridge the gap between what an eligible purchaser can afford through their mortgage, savings, and deposit, and the market price of a new home.
Under the scheme, the local authority provides support through a shared equity arrangement, helping eligible applicants to purchase a new home that might otherwise be beyond their reach.
Applications opened on Tuesday, August 18 and will remain open until Monday, August 31 at 5pm.
Under the initial phase, a small number of two- and three-bedroom homes will be available, the council have said.
As the development progresses, more homes will be added.
As part of the scheme, a two-bedroom home would cost applicants a minimum of €250,000, up to a maximum of €308,750, depending on the applicant’s income.
This represents a minimum discount of €16,250 on the home’s open market value of €325,000.
The three-bedroom homes would cost applicants a minimum of €320,00, up to a maximum of €375,250.
This would see Tipperary County Council take between a 5pc and 22pc share in the home, depending on the circumstances.
The minimum discount on a three-bedroom home would be €19,750, based on the home’s open market value of €395,000.
Speaking at a meeting of Tipperary County Council earlier this year, Fine Gael councillor Mary Hanna Hourigan said that the scheme was good news for the county.
“We’re catching up with other counties, it’s worked very well in other places and we’re taking our time, we’re doing it properly, and it’s great to see it being rolled out,” Cllr Hourigan said.
Fianna Fáil councillor for Clonmel Siobhán Ambrose said that housing is essential, and it was good to see that the squeezed middle would be helped by this scheme.
“Housing is essential and any kind of scheme that that’s going to help young people to get on the ladder, and also individuals who have come through a relationship breakdown to get back on the housing ladder is important,” she said.