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Buying a New Home

Buying your home within a new development is ever so slightly different from that of a second hand home. We have set out below a checklist of events to guide you through the process;

» 1. Review and study the dedicated web-site
» 2. Decide which house type suits your needs and budget  

Often a new housing development is sold “Off Plan” i.e. there are no completed houses to view. Buying off-plan can be a little confusing. If in doubt speak to Suzanne or Jackie of Cohalan Downing with your needs and preferences and they will identify the best home for you.

The principal points to consider when choosing your home “offplan” are;

(i) Floor Plans – to avoid discrepancies between measurements, often the measurements of the individual rooms are not given and the overall floor area of the property is given. The room measurements can be requested for your particular house when its more completed.

(ii) Orientation – this is the direction your home will face and purchasers tend to be more concerned about the rear of the property as this is where you tend to sit out and avail of the outside space more. South and west facing rear gardens tend to be more popular as they get the sun longer in the afternoons and evenings and as such may incur a premium.

(iii) Parking – all homes at Harpers Creek have an allowance for 2 vehicles. If your family need more than that you should identify where the nearest visitor parking is.

» 3. Enquire with Cohalan Downing as to the current availability for your preferred house type and if you’re happy with the choice, Reserve your preferred property. It will be reserved for you for a period of 24hours to allow you to gather the necessary information and booking deposit.
 
» 4. Get your mortgage ready. Speak to Harpers Creek recommended mortgage advisors Mortgage Negotiators Ltd. 

» 5. Appoint a Solicitor .

» 6. Pay a booking deposit of €5,000 to Cohalan Downing. This is accepted “Subject to Contract” therefore refundable up until the time you sign a contract.

» 7. Provide Cohalan Downing the details of your solicitor so contracts can be sent to them.

» 8. Contracts should be signed within 21 days. Once your solicitor is satisfied all pre-contract queries have been answered, you will sign contracts and pay the contract deposit (normally to the sum of 10% of the purchase price, less the amount of your booking deposit). The remaining balance will be paid on the close of sale. Throughout the contract stage Cohalan Downing will be in contact with you to enquire as to progress and encourage the 21 day signing and answer any queries you may have. It is advisable to keep abreast with your solicitor from the outset also.

» 9. Also during the contract stage, Cohalan Downing will contact you to advise you on the various options available to you for the internal finishes of your Harpers Creek Home.
• internal paint colours
• Kitchen styles and colours
• Electrical upgrades
• And any other queries you may have Please note
**No personal choices or upgrades will be signed off on until contracts are signed.

» 10. You will be kept informed of progress and updates as received from the Developers. Once construction nears completion and all certification is in place for your new home, you will be asked to instruct an engineer to carry out a snag list for your property.
 
» 11. A snag list is prepared by your appointed engineer. Which in turn is made available to the Developers, through your solicitor. Once the snagging is completed to the satisfaction of the Developer and your Engineer, the sale can close.

» 12. On closing of contracts, the final monies are drawn down and the keys of your new beautiful Harpers Creek Home are handed over.

   
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Help to Buy

Harpers Creek/O’Mahony Developments Ltd is registered for the Help to Buy Scheme.

Introduction
Buy (HTB) incentive has been designed to help first-time buyers of newly built homes to assemble the required deposit. If you’re buying or building your home between 19 July 2016 and 31 December 2019, you may be entitled to claim a tax refund. This includes the Income Tax and Deposit Interest Retention Tax (DIRT) that you paid in Ireland over the previous four years. Where more than one individual is involved in purchasing a new home, all of the individuals must be first-time buyers.

Applicants must have taken out a mortgage for at least 70 per cent of the value of the property and the property must be occupied by the first-time buyer for a period of five years from the date the property is habitable. The maximum refund available is 5% of the value of the property, up to €20,000. The scheme is only available to those buying properties valued less than €500,000.

HOW TO APPLY
Step 1: Create an application You can apply online through Revenue’s MyAccount service. And as long as you are tax compliant, Revenue will provide you with a summary of the maximum refund available to you

Step 2: Submit the claim Once you have signed the contract for your home, you can make your claim. Once you have submitted your claim you will be provided with a claim reference.

Step 3: Inform the Developer (done through your solicitor) Before you receive any refund, the information you have provided will need to be verified by the developer. Provide them with your claim reference and access code (issued to you when you submitted your application).

Step 4: Receive your claim The refund that you finally receive is limited to 5% of the purchase price of the house. This may mean that it is different to the maximum relief amount that you were given at application stage. More information on the Help to Buy Scheme can be found on Revenue.ie

[Source: AA (Ireland) 2018] 

   
Come Home to Glounthaune

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Get In Touch
Suzanne Tyrrell
T: 021 427 7717 
info@harperscreek.ie

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Disclaimer: O’Mahony Developments Limited give note that the particulars and information contained here do not form any part of any offer or contract and are for guidance only. The particulars, descriptions, dimensions, references to condition, permissions or licences for use or occupation, access and any other details, such as prices or any other outgoings are for guidance only and are subject to change. Maps and plans are not to scale and measurements are approximate. Images are for illustrative purposes only. Whilst care has been taken in the preparation of this communication, intending purchasers, Lessees 

or any third party should not rely on particulars and information contained here as statements of fact but must satisfy themselves as to the accuracy of details given to them. Neither O’Mahony Developments Limited nor any of its employees have any authority to make or give any representation or warranty (express or implied) in relation to the property and neither O’Mahony Developments Limited nor any of its employees nor the vendor or lessor shall be liable for any loss suffered by an intending purchaser/ Lessees or any third party arising from the particulars or information contained in this communication.