Are you looking at a run-down property and imagining its potential? The Vacant Property Refurbishment Grant might be the key to turning that vision into reality. Here's a comprehensive guide tailored for builders and renovators keen on breathing new life into vacant and derelict properties.
What Is the Vacant Property Refurbishment Grant?
The Vacant Property Refurbishment Grant provides substantial financial support to refurbish vacant or derelict homes. This grant also extends to non-residential properties previously used for commercial or public purposes, provided they now have the appropriate planning permission for residential use.
This grant is available for two primary purposes:
For personal residence: Refurbish a property to live in.
For rental: Renovate a property to rent out.
Builders can leverage this grant to bring back properties into use, aligning with community housing needs while also supporting sustainable development.
How Much Can You Get?
Up to €50,000 for refurbishing a vacant property.
Up to €70,000 for derelict properties.
Higher amounts for properties on off-shore islands and additional grants for traditional farmhouses.
These funds can significantly offset renovation costs, making otherwise daunting projects feasible.
Eligibility Criteria
To qualify for the grant, ensure the property meets the following conditions:
Vacant for at least 2 years: No grant for properties left purposely vacant to qualify.
Built before 2008: Recently updated from homes built before 1993.
Ownership: You must own or be in the process of buying the property.
Primary residence or rental: Must be your main home or available for rent upon completion.
Tax compliance: Must have tax clearance and local property tax paid.
No companies or developers: Only individuals can apply.
Grant limit: Each individual can receive the grant twice.
What Does the Grant Cover?
The grant covers a wide range of refurbishment activities:
Type of Work | Maximum Amount |
Demolition & Site Clearances | €50,000 / €70,000 |
Substructure & Superstructure Works | €50,000 / €70,000 |
External Completions (e.g., doors, windows) | €21,000 |
Internal Completions (e.g., doors, skirtings) | €10,500 |
Roof Completions | €14,000 |
Services (plumbing, heating, etc.) | €50,000 / €70,000 |
Kitchen Units | €7,700 |
Sanitary-ware & Bathroom Fittings | €2,800 |
Land Work Around the Home | €7,000 |
Extensions | €50,000 / €70,000 |
Professional Services | 10% of net cost or €14,000 |
For detailed limits on specific types of work, refer to the official guidelines.
Application Process
1. Submit Your Application:
Fill out the application form.
Provide proof of property vacancy, ownership, planning permission, and derelict status (if applicable).
Include a quote for the work and agree to repay the grant if you sell or rent within 10 years.
2. Review and Approval:
Local authorities review the application, may request additional information, and inspect the property.
Upon approval, you’ll receive a “letter of approval” or “letter of approval in principle” if still in the purchase process.
3. Contractor and Payment Details:
Submit contractor details and bank information.
Provide invoices for the completed work and get tax clearance if over €10,000.
4. Inspection and Final Approval:
Local authority inspects the completed work.
You sign a charge document securing the local authority’s interest for 10 years.
5. Grant Disbursement:
Payment is made once work is verified and all conditions are met.
For rental properties, proof of tenancy registration with the RTB is required.
Future Developments: Staged Payments
To alleviate financial strain during renovations, the grant might soon offer staged payments. This would provide funding at various stages of the project, easing cash flow issues. Keep an eye out for updates later in 2024.
Additional Resources and Support
For expert advice on conserving traditional farmhouses, an additional grant of up to €7,500 is available. This can help cover a conservation survey and report on best practices for refurbishment.
Contact Points:
FAQs and local Vacant Homes Officers are available for queries.
Housing Agency's Vacancy Helpline: vacancycampaign@housingagency.ie
Bringing Back Homes Manual: Provides detailed technical guidance and case studies.
To Sum Up
The Vacant Property Refurbishment Grant offers builders a robust tool to transform neglected properties into valuable living spaces. By understanding the practicalities, eligibility, and process, you can unlock funding that turns vision into reality. Start your application today and be part of revitalizing communities one property at a time.
For more information, consult your local authority or explore the Bringing Back Homes Manual.
Abacus aims for this guide to offer a concise yet thorough overview specifically designed for builders. If you are considering a renovation project, seize the opportunity now to access these grants and create a significant influence on the housing environment.
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