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GOVERNMENT INTENDS TO increase the rent credit in the next budget, according to Housing Minister Darragh O’Brien.
Speaking to The Journal at the Fianna Fáil Ard Fheis in the RDS this afternoon, the minister said the tax credit is just the starting point.
A €1,000 tax credit for 2022 and 2023 was announced this week as part of the budget.
Details of how to claim the credit have yet to be announced, but it is expected to be claimed on an individual basis (except for married couples and civil partners) and the landlord must be registered with the Residential Tenancies Board (RTB).
A previous tax credit for renters was phased out by 2018.
During this week’s Fianna Fáil parliamentary party meeting, the Taoiseach indicated that the credit was a platform that could be built upon.
O’Brien said his party had “affected a permanent change”, stating that Fianna Fáíl insisted upon that tax credit being reintroduced
“I mean, €1,000 per renter, €500 for 2022 and €500 for 2023. That will make a big difference for a lot of people and I do agree completely with the Taoiseach. That’s our starting position.
“So next year because we’ve made a permanent change, not just a cost-of -living change. We will be looking to see how we can increase that rate into the future. Renters need help, we as a party understand that and this is a significant step towards it,” O’Brien said.
The Taoiseach indicated yesterday that O’Brien will be staying in the housing brief.
The minister said he would be delighted to stay in his portfolio after the Cabinet reshuffle.
Housing charity Threshold said the new credit would provide some level of relief, it is “simply not enough”.
Sinn Féin leader Mary Lou McDonald accused Taoiseach Micheál Martin of leaving “the door wide open for more rent hikes, more exploitation, and more hardship”.
“Taoiseach, you have messed this up, and the renters of Ireland deserve more than this half-baked measure,” she said in the Dáil this week.
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My advice. Don’t bother looking till you have mortgage approval. It could take 2 years. The market changes so frequently you’ll only be disappointed. Secondly understand the different estate agents. Sherry Fitz over price their clients houses to get a bigger fee. The guide price you see is exactly that. Offer €100k below. Sure who knows. Also keep and eye on listings. If they’ve been up for a while, they are obviously struggling to sell. That’s to your advantage.
@Danny Sherrard: offer 100k below in a sellers market? Good luck with that.
@Danny Sherrard:
This is why it should be a set fee so the prices aren’t just ballooned so much.
@Danny Sherrard: what house is going for €100k under asking in this market? Can you provide one example?
@Elaine Phelan: or be dope and offer the asking price. People like you are the reason house prices are crazy. Start low is all I say. I got my house in 2020, €40k below asking price.
When you view a home online have a careful look at the garden and try and see what flowers are blooming, whether it’s spring summer or autumn etc This can give you some indication as to how long it’s been on the market or whether it’s been relisted. It can either be a red flag indicating problems with the neighbourhood, or simply too high an asking price, in which case you might get away with offering less than anticipated.
@Liz O’Neill: On the likes of Daft there is usually a listed date.
1. Location. Close to work/family/what you love.
2. Cost v lifestyle. Make a choice, if you want holidays & fun etc buy a house with a smaller mortgage. If you prioritise a large home over everything else – go as big as you can afford.
3. Time. Which is it? Happy paying back a 35+ yr loan & see it as rent anyway (and if anything happens that’s what insurance is for). OR do you want to pay off your fast.
4. Future. Planning a family? Buy a house with that extra room to allow those teens some time away from you/a play room when they are young.
5. Short-term/life term. Buy big & sell when kids are gone -downsize? Buy small & upgrade? Do what most do – make do? Have a plan.
6. cheap furniture for the short term to fill the house & upgrade/only buy the best of the best bit by bit?
Go abroad, do the hard graft and save for couple of years, come back and buy where you know. Not for everyone, but time does fly.
Use your passport, it’s very valuable.
have your say