Life Home & Garden

Tuesday 19 June 2018

What can you buy for €320,000 in Dublin to avail of the new council mortgage?

44 Coldwell Street, Glasthule, Dun Laoghaire, Co. Dublin. Photo: Daft.ie
44 Coldwell Street, Glasthule, Dun Laoghaire, Co. Dublin. Photo: Daft.ie
Geraldine Gittens

Geraldine Gittens

Today the Government will unveil plans to enable local authorities to provide mortgages to first-time buyers.

First-time buyers will be able to apply for the loan if they've had two insufficient offers or refusals for a mortgage from two lending institutions.

For an individual applicant, their annual gross income cannot exceed €50,000, or in the case of a joint application, the cap is €75,000.

There is also a limit on how much you can pay for your home.

In the greater Dublin area, Cork and Galway, the maximum market value of a home can be €320,000.

In the rest of the country, it will be €250,000.

So what exactly would you get for €320,000 if you were shopping for a home in Dublin?

Here are three examples:

A one-bedroom cottage in Glasthule, Dun Laoghaire, Co Dublin, for €295,000

This 322-square-feet cottage is in salubrious Glasthule, has a pot belly stove, and is close to the sea.

A three-bed terraced house in Finglas, advertised for €295,000