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WHEN NAVIGATING THE housing market, it’s essential to have a sense of the advantages that each prospective home offers you as a new homeowner.
Many things come into the equation, with the price naturally being one of the key considerations. It’s for this reason that many first-time buyers will go after two-bedroom homes that offer the perfect balance of affordability, living space and future value should you ever choose to move on.
Glenveagh, one of Ireland’s leading home builders, offers a range of beautifully designed two-bedroom homes in established, vibrant communities across the country, all of which boast a range of benefits that could make your decision an awful lot easier when it comes to getting on the property ladder. If you’d like to get a closer look at two-bedroom homes across several counties and towns, you can explore them in-depth on the Glenveagh website.
Why a two-bed?
Buying a home is not just about the up-front costs, it’s also about keeping costs low after you’ve settled in. All of Glenveagh’s two-bedroom homes come with an A-rated BER, giving you peace of mind over your energy costs. Insulation in floors and walls, double glazing and state of the art heating systems mean that you’ll never be paying over the odds when the bills come in.
Another advantage of choosing a two-bedroom home is the time, energy and resources you will save on upkeep and maintenance. This is especially important for first-time buyers, who will often be carefully managing their costs during the first few years of home ownership.
Glenveagh homes are newly built and sustainable. Unlike so many homes on the market, there are no fixer-uppers here. Each Glenveagh home comes with a contemporary fitted kitchen with soft-close doors, stylish living spaces, fully painted interiors and bespoke, high-quality joinery.
No matter which community you are exploring every two-bedroom home built by Glenveagh includes en-suite bedrooms and smart bathroom design. Depending on the community, your two-bed will also come with either a fully-seeded secluded back garden or beautifully designed terraced area.
Thanks to the quality design, in-demand commuter-friendly locations, and energy efficiency of these Glenveagh two-beds, these homes can be expected to maintain their value in the market — providing you with future sale or rental income opportunities.
One of the biggest advantages that come with purchasing a new build home in a Glenveagh community is their eligibility for both the Help to Buy scheme and First Home Scheme.
Rath Rua, for example, is a newly built Glenveagh community in Portlaoise, a vibrant town with strong commuter links to Dublin thanks to the M7 motorway, N80, and N77 plus public transport options of train and bus. The town itself offers an array of schools, sports clubs, as well as restaurants, bars, cafés and anything else you would need.
Homes in Rath Rua also qualify for both the Help to Buy and First Home Scheme. With Help to Buy, first-time buyers can receive up to €30,000 as a tax rebate towards their deposit, while the First Home Scheme provides shared equity of up to an additional 20%. Using both schemes simultaneously can make the leap much more affordable again.
Using the Glenveagh Mortgage Calculator, you can see how these schemes can put home ownership in your grasp. In the case of Rath Rua, the home purchase price is €305,000 and first-time buyers are required to have a deposit of 10% of the property value. With the Help to Buy scheme, you can get a maximum of €30,000 towards your deposit, meaning the remaining needed is only €500.
The First Home Scheme bridges any difference between the deposit and the mortgage up to the value of 30% of the property value. When used in conjunction with the Help to Buy scheme, this changes to 20% — which would equate €61,000 in our example. So the total mortgage needed to purchase the home would be €213,500. Meaning an estimated monthly repayment of €907 based on a 35-year term with a 3.7% interest rate.
There is no charge for the First Home Scheme for the first 5 years that you own your home. But, if you have not bought out the FHS equity share in your home by the sixth year, a service charge will apply. This service charge is for the maintenance of the First Home Scheme. You can find the specific rates and details on the First Home Scheme website.
A two-bedroom home with Glenveagh is a smart way to make savings both now and later on your first home, while sacrificing nothing in terms of design, comfort and community.
To explore a range of two-bedroom homes in vibrant Glenveagh communities across Ireland, visit the Glenveagh website. To explore Glenveagh’s full range of homes, click here.
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