The Vacant Property Refurbishment Grant is a scheme available in Ireland aimed at encouraging property owners to renovate vacant and derelict buildings. The grant is administered by the local authority and can provide up to €50,000 in funding to cover renovation costs..
To apply for the Vacant Property Refurbishment Grant, there are several steps that property owners must follow. First, they must obtain an application form and submit it to the local authority along with an estimate of costs. The local authority will then carry out an initial assessment to determine whether the property is eligible for the grant.
Once the application has been approved, the property owner can begin the renovation work. The local authority will monitor progress and may carry out inspections to ensure that the work is being carried out to the required standard. Once the work is complete, the property owner must provide evidence of the costs incurred, and the local authority will release the grant funding.
It is important to note that there are certain conditions attached to the Vacant Property Refurbishment Grant. For example, the property owner must commit to using the property as their principal private residence for a minimum of five years following the completion of the renovation work. Failure to meet this condition may result in the grant funding being clawed back.
Amount of Grant
The maximum payment for the Vacant Property Refurbishment Grant is €30,000. However, if the property is deemed to be derelict, an additional top-up payment of up to €20,000 may be awarded, bringing the total grant amount to €50,000. This additional top-up payment is intended to encourage the renovation of properties that have fallen into a state of serious disrepair and require more extensive work to make them habitable again.
Upcoming Changes to the Grant.
From 1 May 2023, the grant will be extended to:
- Vacant properties built before 2007. (The grant is currently for properties built before 1993.)
- People who want to rent out the vacant properties when they are refurbished.
To qualify for the Vacant Property Refurbishment Grant, you must meet the following criteria:
- Your home must have been vacant for 2 years or more.
- Your home must have been built before 1993. (From 1 May 2023, homes built before 2007 will qualify.)
- You must own the home, or be in the process of buying it.
- You must live in the property as your principal private residence when the work is completed. (From 1 May 2023, the grant will be extended to people who want to rent out the property when it has been refurbished.)
- You must have tax clearance from Revenue and your tax affairs must be in order.
- You must have paid your local property tax, if applicable.
- You must not have already got funding under the grant.
Overall, the Vacant Property Refurbishment Grant is an excellent opportunity for property owners to breathe new life into vacant buildings. By following the application process and meeting the necessary conditions, property owners can access up to €50,000 in funding to cover renovation costs and make their properties fit for purpose once again.