Saturday 22 October 2016

Budget voices: 'I really don't want to be dictated to about where I can buy a new house'

First-time buyer: Peter Kavanagh

Published 12/10/2016 | 02:30

Peter feels let down by Budget
Peter feels let down by Budget

PETER Kavanagh (32) says that he doesn't believe the help-to-buy scheme will assist him in his search for a family home.

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The scheme gives first-time buyers a tax rebate of up to 5pc when they buy a newly built home.

However, Peter and his wife Emma are looking to buy in Clondalkin in west Dublin, where there are currently no plans for new builds.

"We're looking to buy in Clondalkin, which is where we're based and where we've put down roots in the community," he told the Irish Independent.

"It is a village with character and identity that we are a part of, so if we can't buy in an existing housing estate in the area, that's not where we want to be living.

"I don't want the Government to be dictating to me where I'm going to live and that's essentially what's happening here, because there are only developments happening in certain areas."

Peter is originally from Clondalkin and he and his wife of 18 months are currently renting there.

They have been saving since they got married for a deposit on a house and hope to buy within the next 12 to 18 months.

However, he says that the Budget will not help them achieve their goal, as the measures announced do not apply to their situation.

"If Mr Noonan wanted this measure to help people like me to get on to the property ladder, he certainly would have done it for both new and secondhand homes, because that would have alleviated the pressure on the rental market."

The cuts to the Universal Social Charge (USC) of 0.5pc for low and middle-income earners will help Peter and Emma to save for a deposit, as they will have a higher take-home pay each month.

"While I disagree fundamentally with the weakening of the tax base and eroding it, 0.5pc on USC will allow us to save a couple of hundred quid extra a year. Our savings might go up by about €50 a month," Peter said.

"Not much else in that Budget will apply to us. It's not really a Budget that does an awful lot for my pocket or my prospects."

Irish Independent

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