Young Couple Secures €375,000 Home Near Dublin with Smart Schemes

Buying a home in Ireland has become increasingly difficult for many, but for young couple Casey Harris and Alex Nugent, a combination of government assistance schemes made their dream a reality. In just one year, they transitioned from having no savings to securing a €375,000 new home in Trim, County Meath, located approximately 20 minutes from Dublin.

Casey, a singer and music teacher, and Alex, who works in sales, managed to navigate the complexities of the housing market and leverage various support programs available to first-time buyers. They are set to move into their two-bedroom home later this year, with Casey expressing excitement about their future together.

“We’ve been together for five years, and we got engaged at the beginning of 2024,” Casey told the Irish Sun. “In the midst of wedding planning, we decided to knuckle down and look at buying a house.” Initially, the couple was uncertain about how to proceed, but after consulting with a mortgage advisor, they found clarity on their savings goals.

While they initially aimed to save a ten percent deposit, the couple discovered several assistance schemes for first-time buyers that significantly reduced the amount they needed. The Help to Buy Scheme, in particular, proved advantageous, enabling them to claim back up to €30,000, making their deposit requirement much more manageable.

Casey reflected, “Suddenly you’ve got this figure in your head, like we need to save about €40,000, but then you’ve got Help to Buy, which brings that down to €10,000, which is so much more doable.”

Their journey hit a bump when their initial application for a home in Donabate was unsuccessful. However, they quickly regained momentum and discovered a property that qualified for both the First Home Scheme and the Help to Buy Scheme. “It was mad how it all came together really quickly,” Casey added.

The Help to Buy Scheme is designed to assist first-time buyers in purchasing newly built homes. Under this scheme, they can claim a refund of income tax paid in the previous four years, as well as Deposit Interest Retention Tax. To qualify, the property must be valued at €500,000 or less, and the buyers must intend to live there as their primary residence.

The couple’s successful application allowed them to secure a mortgage of €287,000 after accounting for the €30,000 tax refund. They utilized the First Home Scheme, which involves the state covering a portion of the home’s cost in exchange for an equity share. This meant they were responsible for approximately €50,000, which represented about 13 percent of the home’s total cost.

Despite living with their families while saving, they managed to accumulate around €15,000 before applying for the mortgage. “There’s no set figure, but I just think it’s important that people know when you’re using the schemes, you’re not having to pay €30,000 or €40,000 out of your own pocket,” Casey explained.

The couple also sought guidance from a mortgage broker, which proved invaluable. They learned that rental payments could be factored into their mortgage eligibility, a detail often overlooked by renters. “It’s hard to save money when you’re renting, but a lot of people renting don’t realise that the bank will take into account what you’re paying every month,” Casey noted.

While facing initial rejections from banks, Casey emphasized the importance of shopping around. “We were refused a mortgage from one bank, and then two banks were giving us about €40,000 less than what we were looking for,” she said. Eventually, they secured a favorable mortgage from other lenders.

As they prepare for their new life in Trim, Casey and Alex are excited about the future. Their wedding is planned for 2027, and they look forward to celebrating this milestone while settling into their new home. “It’s a really exciting time,” Casey said. “We’re looking at being in the house before Christmas, so that will be really special.”

Their experience highlights the opportunities available for first-time homebuyers in Ireland. Though the process can seem daunting, Casey encouraged others to remain hopeful and informed about the various schemes that can ease the burden of homeownership. “Keep an open mind and don’t get bogged down in the negativity,” she advised. “It is possible, and it’s not as treacherous as it might be made out to be.”

The couple’s story serves as a reminder that with the right information and resources, achieving homeownership is within reach for many young people in Ireland.