Expanded First Home Scheme strengthens support for first time buyers in Mayo

Minister of State Alan Dillon TD has welcomed the latest expansion of the First Home Scheme, saying the further increase in price ceilings for Mayo will give even more individuals and families the opportunity to buy their first home.

The price ceiling for newly built homes in Mayo has now been increased by an additional €25,000, rising from €400,000 to €425,000. Minister Dillon said this is the second increase in 12 months and reflects rising construction and market costs locally and ensures that more homes in Mayo fall within the eligible range for support. “This is very positive news for aspiring homeowners in Mayo,” Minister Dillon said. “By increasing the price ceiling to €425,000, more people who were previously just outside the threshold can now qualify for support. It means more newly built homes in Mayo are now accessible to first time buyers through the First Home Scheme.”

He added that the scheme continues to bridge the gap between a purchaser’s mortgage, deposit, and the cost of a new home, with buyers able to receive up to 30% of the purchase price, or 20% when combined with the Help to Buy Scheme.

“The review has increased price ceilings in 16 local authority areas, including Mayo, where the limit has now risen from €400,000 to €425,000,” Minister Dillon said. “This scheme is already helping thousands of people to bridge the affordability gap and buy their first home. These changes will allow even more Mayo families to qualify.”

He added that the updated ceiling reflects the realities of the Mayo housing market and will support both buyers and builders. “Throughout Mayo, I have seen firsthand how the First Home Scheme has enabled people to finally purchase their own home. "This further increase will ensure that even more individuals and families can benefit and take that important step towards homeownership,” he concluded.