Advice Desperately Needed – Mid 20’s Male Renovating a House Under the Vacant Property Refurb Grant

shane9

Hi All, I am coming on here to hopefully get some advice in relation to renovating a property under the Vacant Property Refurbishment grant (I’m not sure where else to turn!).

In 2023 I was in the fortunate position to be able to purchase my first property - a three-bedroom home. This property had been vacant for a period of two plus years before I purchased it.

After months (and months) of putting together documentation and jumping through loops for the council, I have received approval from the council for a grant of 70’000 euro to renovate the property.

In total I will be putting in approximately 120k euro to completely renovate the home – the 120k euro is made up of 50k euro offered by the bank as part of the mortgage for renovations/home improvements and of course the 70k euro from the grant. The work will hopefully be completed by a one-stop-shop building contractor. This will hopefully bring the home from a BER rating of E to a minimum BER rating of B2.

This is all fantastic, but here is the issue!!!! For anyone who has researched the grant online, I’m sure ye have heard of the extreme backlash the government have received for the difficult conditions of the grant – the MAIN issue being that the council do not reimburse you the 70’000 euro until there is proof (transfer of funds/payment for work) that you have paid the contractor in full for the works completed.

I, like many many other people across the country do not have 70k cash lying around to throw at renovating a home. However, the council will not pay over the money until they receive proof of payment for the works being completed?

Does anybody have any advice on what my options are here in terms of financing this 70k until the grant comes through? Has anybody else who has gotten the grant approved had the same issue? All advice is hugely appreciated thank you!

DOCARCH

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