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2 Bed Apts, The Maudlins, Duleek, Co. Meath

Number of units in development: 17



FANTASTIC VALUE, PRICED TO SELL!

*Own a luxury 1 bed apartment from as little as €628.00 per month

*Own a luxury 2 bed apartment from as little as €776.00 per month

Under the Town Renewal Scheme owner occupiers can avail of significant tax relief in this exclusive development of luxury 1 and 2 bed apartments located in the heart of the historic village of Duleek.

The Maudlins consists of 6 one bedroom apartments; seventeen 2 bedroom apartments (see also 6 retail units)

The apartments are finished to a very high standard and include many extras as standard including fully fitted vanilla shaker style kitchens with appliances, fitted wardrobes, bathrooms and ensuites feature stylish tiling, power shower and Jacuzzi bath.
All apartments have designated parking space and access through electronic gates.

For further information and viewing appointment call Sheila on 01-6590000 or 086-8238801. sheilawhalley@remax.ie

* Repayment @ 4.75% over 35 years with tax relief in accordance with Town Renewal Scheme.


Prices from € 170,000

TAX BENEFITS OF TOWN RENEWAL SCHEME EXPLAINED

These apartments qualify for tax relief in accordance with Town Renewal Scheme introduced by the Finance Act 2000 and is currently in legislation under Section 372 AR (1) TCA 1997.

Upon the purchase of an apartment in this development an individual will be entitled to a deduction of 5% of the cost of the property against their TOTAL income. This deduction is given for ten years, allowing the purchaser to reclaim 50% of the cost of the property against their tax liability, thereby reducing the net cost of their mortgage.

Example A
Mr A buys a one bedroom apartment in the development costing €170k. In accordance with the formula set out by Revenue 79% of the purchase price qualifies for tax relief under the Town Renewal Scheme. Therefore Mr A has allowances to use against his tax as follows-: Cost of Apartment: €170,000 x 79% = €134,300

If Mr A is a lower rate taxpayer, the relief will give a tax refund of €1,343 pa for the first ten years of his ownership. With a mortgage of €156,400 (92%) the monthly repayments for the first ten years of ownership would be as follows:-

Tax Relief
Mortgage Repayment (@4.75% over 35 yrs)* €740
Tax Relief €112
* (based on AIB standard variable rate - APR 4.58%) €628

Example B
Ms B buys a two bedroom apartment in the development costing €210,000. In accordance with the formula set out by Revenue 79% of the purchase price qualifies for tax relief under the Town Renewal Scheme. Therefore Ms B has allowances to use against her tax as follows-: Cost of Apartment: €210,000 x 79% = €165,900

If Ms B is a lower rate taxpayer, the relief will give a tax refund of €1,659pa for the first ten years of her ownership. With a mortgage of €193,200 (92%) the monthly repayments for the first ten years of ownership would be as follows:-

Tax Relief
Mortgage Repayment (@ 4.75% over 35 yrs)* €914
Tax Relief €138
* (based on AIB standard variable rate - APR 4.58%) €776


Comparing the cost of purchasing a similar property without the tax relief, it is easy to see the direct benefit of the allowances granted by buying in this development.

(These figures do not include Tax Relief at Source allowances)


Apartment Specifications:
- Block A sixteen own door apartments
- Block B - shared main entrance lobby
- All Apartments - one designated secure car parking space
- All Apartments with balcony / patio
- Aluclad prefinish windows
- Solid Ash pre finish interior doors
- Fitted kitchens, including all white goods
- Fitted wardrobes in bedrooms
- Kitchens and bathrooms - floor and wall tiled
- Two bedroom apartments with ensuite plus main bathroom
with jacuzzi bath
- Electric storage heating

Note: These particulars are detailed for the purposes of representing the development only. Visual representations, finishes, layouts and/or scales may be approximate or representative of the development rather than exact specifications of the actual unit. The developer reserves the right to make alterations to the design and specification in the overall interest of the development.

Other Unit Types in this development:

1 Bed Apartments  (1 Bed Apt) On Application

Daft Property Shortcode:
www.daft.ie/1421303

Date Entered/Last Renewed:
16/3/2010 (2 days ago)

Contact Advertiser

To: Sheila Whalley in Re/max Results

Subject: New Development in 2 Bed Apts, The Maudlins, Duleek, Co. Meath

 

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Useful Information

Stamp Duty: The stamp duty due on the purchase of a new development depends on the following factors - whether or not the property is under 125 m², and whether you're a first-time-buyer, owner occupier or investor.
For a full explanation see our stamp duty page