- Sale Type: For Sale by Private Treaty
- Overall Floor Area: 88 m²
This is a dream house for a builder or for someone one who is passionate about property ,
An ideal home that can be renovated to your own specifications. The curb appeal of this house is good and is ideal for someone seeking privacy as there is a nice long driveway approach to the property . Check out you eligibility for the Grant introduced by the Government see below details .
Accommodation comprises of 3 bedrooms, 1 bathroom, kitchen and sitting room(currently being used as a bedroom)
Site size is 0.84 of one acre as per map attached.
Fibre broadband available .
Septic tank on site,
Electricity on site
Mains water .
Large shed which is suitable for many uses storage or even to convert into a granny flat . Large garden to the back of the property maybe even room for a pony.
Edgeworthstown or Mostrim (Irish: Meathas Troim, meaning 'frontier of the elder tree is a small town in County Longford, Ireland. The town is in the east of the county, near the border with County Westmeath. Nearby towns are Longford 12 km to the west, Mullingar 26 km to the east, Athlone 40 km to the south and Cavan 42 km to the north.
This property is located south of Edgeworthstown just off the N55 which is the north south corridor . Ardagh Village is only around the corner this is a heritage award winning village.Ardagh meaning 'high field is a village about 4km from this house Originally a site of pre-Christian worship, Ardagh became a site of Christian settlement with the arrival of Saint Patrick sometime between 434 and 435.The bulk of the village was laid-out in the mid-19th century. This village also has lots of amenities.
The Government has announced a new grant which will allow first-time buyers to purchase a derelict or vacant property and turn it into a home without the need for planning permission.
The new Croí Cónaithe (Towns) Fund Scheme will see eligible first-time buyers with mortgage approval receive a grant of up to €50,000 in plans which are aimed at tackling the nationwide housing crisis.
Minister for Housing Darragh O'Brien announced the new regulations, which will also allow pubs to change from commercial to residential buildings.
€50 million in funding has been allocated to local authorities under the scheme.
Here's everything you need to know.
Why introduce this grant?
The news is part of a strategy to tackle the ongoing housing crisis all over the country, particularly in major cities such as Dublin, Limerick, and Cork. However, this fund is aimed at towns and villages where vacant and derelict buildings could be repurposed as residential units.
The aim of the new grant is twofold: to provide more assistance to first-time buyers (especially those struggling to find properties in their price range), and to tackle the issue of vacant and derelict properties locally which are a blight on many towns and villages nationwide.
A residential buildings report from GeoDirectory revealed that there are now more than 100,000 vacant and derelict homes across the country - 90,158 vacant residential dwellings and 22,096 derelict residential addresses.
However, Revenue said that 57,206 properties were reported as vacant by their owners on November 1st 2021 - contrary to figures revealed by the census which reported that a total of 166,752 vacant homes existed nationwide.
So what grant figures have been announced?
A maximum grant of €30,000 will be available to those looking to refurbish a vacant property to use as their principal private residence. This includes the conversion of a property, e.g. a commercial property to a residential one.
That said, an additional top-up grant of up to €20,000 will be available where the property is structurally unsound or dangerous, bringing the total available grant for a derelict property up to a maximum of €50,000.
Where someone is looking to access the top-up grant, an independent report must be undertaken by a quantity surveyor or engineer. The report must then be submitted along with the application. Those applying will be required to indicate in their application whether or not they are seeking the top-up grant.
The grant includes the cost of VAT of the works carried out.
What are the eligibility criteria?
Here are some of the most important criteria to avail of the Croí Cónaithe scheme:
Applicants must be a first-time buyer, or qualify under the 'Fresh Start' principle.
Applicants who have particular needs such as those with disabilities or older people can apply.
Applicants who are moving from their current home which they are selling or have sold and want to live in a town or village setting may also apply.
Applicants must be refurbishing a derelict home that has been vacant for two years or more.
The property must have been built before 1993.
Other important eligibility criteria can be found on www.gov.ie.
However, despite this new grant being announced, it won't necessarily make it easier for people to get a mortgage...
Getting a mortgage on a derelict property
There are some difficulties with the proposed new grant for first-time buyers.
The main point to bear in mind is that just because you're eligible for the above grant doesn't mean a mortgage lender will be happy to give you a loan. We don't yet know how willing lenders are going to be to lend against derelict properties.
When trying to secure finance for a new home as a first-time buyer, it's important to remember that you'll be underwritten twice in the mortgage approval process - firstly on your income and secondly on the property you're looking at purchasing.
That is to say, some mortgage lenders may not approve the latter end of the underwriting process based on the property that's being proposed.
Another important point prospective homeowners need to consider is that if you're thinking of turning a derelict property into the home of your dreams, you'll need to hire the relevant tradespeople, which is fairly tough right now to say the least.
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