First Home Scheme ceiling in Donegal increases by €25,000 to €350,000

The First Home Scheme ceiling in Donegal has increased from €325,000 to €350,000, meaning more first-time buyers now qualify for the scheme.

Welcoming the development, Donegal minister, Charlie McConalogue said the First Home Scheme is primarily targeted at first-time buyers and self-builders who are seeking to buy a newly constructed home, but who cannot secure the full amount required from their mortgage and deposit. 

“The scheme aims to bridge the gap for eligible purchasers between their deposit and mortgage, and the price of new home sold through the private market,” the Minister for Agriculture, Food and the Marine commented.

“Housing continues to be a top priority of Fianna Fáil in Government. With the First Home Scheme our aim is to make home ownership achievable for thousands of individuals and families by bridging the gap between their deposit and mortgage and the price of their new home,” he added.

“The raising of the First Home Scheme ceiling with immediate effect in Donegal is hugely welcome news. It means that more people will now be able to afford a home as they will now become eligible if their chosen home was formerly up to €25,000 above the scheme's price ceiling. We will continue to support first-time buyers as a priority with tax rebates and other financial supports to help them get on the property ladder. 

"Our Housing for All plan, the most ambitious housing plan in the history of the state, is taking hold. From June 2023 to May 2024, 51,935 housing units commenced construction and the pace of new housing growth in Ireland is the fastest in Europe when measured on a per-population basis.

“Fianna Fáil’s top priority remains doing everything we can to help people to afford to buy or rent a home and my focus is on doing whatever I can to keep this positive momentum going.”