Oscar Traynor Woods, Coolock, Dublin 17

Description

*The market value of each property is higher than the above quoted sale price* Oscar Traynor Woods is a new development of over 850 new homes that will form a brand-new community which will include a new community centre, retail units, creche and an abundance of green park spaces and playgrounds. Located off Oscar Traynor Road, with excellent transport links to the M50, M1, the Dublin Port Tunnel. Local transport links include TFI and Dublin bus routes to and from the city centre. Oscar Traynor Woods is located a short distance from Omni Shopping Centre, Dublin Airport and Northside Shopping Centre, with an abundance of amenities in the vicinity including Beaumount Hospital. Primary and post-primary schools, as well as DCU and Coláiste Dhúlaigh CDCFE. 16 one, two and three-bedroom homes are being offered in the first phase for sale by Dublin City Council under an affordable dwelling purchase arrangement. These homes are, subject to exceptions, being made available for first-time buyers only. The homes will be sold for a price that is lower than the market value. The affordable purchase price to be paid will be linked to applicant(s) income (and savings where relevant) and mortgage capacity. The indicative minimum and maximum price payable will be based on the market value. The homes will be sold to eligible applicants who can demonstrate that they have the purchasing capacity between the minimum and maximum purchase prices. Your purchasing capacity is calculated as the combined total of: 1. Maximum mortgage capacity, i.e., 4 times gross household income 2. A minimum deposit of 10% of the affordable purchase price (which can include support from the Help to Buy scheme) 3.Relevant savings, i.e., any savings in excess of the combined sum of the required deposit amount plus €30,000. Purchasers will enter an Affordable Dwelling Purchase Arrangement (ADPA) with Dublin City Council whereby the Council will take an equity share in the dwelling equal to the difference between the market value of the dwelling and the price paid by the purchaser expressed as a percentage of the market value of the property. The Council's equity share in the property may subsequently be redeemed by making payments to the Council. Eligibility for this scheme will be on the following basis in accordance with the Scheme of Priority for Affordable Dwelling Purchase Arrangements. • The date and time of the application • Applicants must be first-time buyers, subject to certain exceptions • Typical applicant household gross income must be €106,875 or less (see indicative income limits depending on property prices below). The income limit is based on 85.5% of the market value of the property divided by 4. In addition, a minimum of 30% of these homes will only be available to applicants who are or have been living in the Dublin City Council administrative area for a minimum of three years. Applications for affordable purchase homes at Oscar Traynor Woods will only be accepted via Dublin City Council’s online application portal. Applicants should register for an account in advance of the opening date. The portal will open for online applications on Tuesday 16th July 2024 and will close at 4pm on Tuesday 6th August 2024. Further information on this scheme, the Scheme of Priority for Affordable Dwelling Purchase Arrangements, details of how to make an application and the required documentation, are available on https://affordablehomes.dublincity.ie/ Under the terms of the Local Authority Affordable Purchase Scheme, the upfront cost is reduced for the buyer while Dublin City Council will retain an equity stake WHICH IS REPAYABLE ON THE SALE OF THE PROPERTY OR IN 40 YEARS TIME. Successful applicants have the option of buying out this equity stake over time if they so wish. Equity shares are calculated on an individual basis and are linked to an applicant's income, their savings and their mortgage capacity. These homes are available for buyers who are seeking to purchase a newly built home but need to bridge the gap between their mortgage and deposit to cover the full price of the home. Those interested in purchasing a home in this Scheme must be able to demonstrate that they can afford to pay the Minimum Sale Price set and meet the eligibility criteria as set out by Dublin City Council on https://affordablehomes.dublincity.ie/ These particulars are detailed for the purposes of representing the development only. Visual representations, finishes, layouts and/or scales may be approximate or representative of the development rather than exact specifications of the actual unit. The developer reserves the right to make alterations to the design and specification in the overall interest of the development

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BER: A2

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€264,358

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