We all want to live on our own home but with rising rents and difficulties getting that “all important” deposit together potential buyers can struggle to get there. Here’s a new way to get on the property ladder sooner than you think.
Dwellr is a brand-new product for the Irish market, launching in early 2024. The concept has worked successfully internationally, and they are now testing the Irish market. With the Dwellr process it’s like being a cash buyer. In 5 simple steps you could be living in your home within months. Their website gives more detail, and it is really easy to apply.
Dwellr is aimed at renters, those of you who want to “leave the nest” of the family home, new to Ireland workers or divorced/separated people.
Are you currently renting, but really want to buy your own home? Your rental payments would be the same as a mortgage repayment but you cannot get a down payment together? You are the 1 in 5 people in Ireland who can afford a home but just cannot get mortgage.
Are you still living with Mum and Dad, and want your own space? The 2022 census showed that 68% of 25–29-year-old young adults are still living in the family home.
You have moved to Ireland to live and work. You want to make a future for you and your family here. 645,000 of you are currently renting but you would like to own your own home and put down roots.
Are you starting afresh? Life happens and sometimes we have to move on and start again when a relationship breaks down. Maybe you are one of the 100,000+ separated or divorced people in Ireland. You would like to get a new home.
How Dwellr Works
- Step 1 Apply for Approval Apply online via Dwellr.ie – it’s free and easy to do. You just need to have some standard KYC documents and information to hand to help complete your application.
- Step 2 Find your Dream Home Once approved, and they promise to do this quickly, you get your personal budget. You can now go house hunting. Or if you are renting and your landlord wants to sell you may want to stay put and buy your current rented property.
- Step 3 Go Sale Agreed Once you have chosen your property, Dwellr (on behalf of their regulated funding partner) arranges to buy the property on your behalf. Your initial down payment goes into your dedicated savings account and counts towards your future deposit. An important thing to note is that Dwellr covers costs – stamp duty, local property tax and legal fees!
- Step 4 Move In Immediately You can now move in. Your monthly payments include built-in savings. These built into a mortgage deposit over time. You should be eligible for a mortgage within 36 months.
- Step 5 You are Ready to Buy After 36 months you should be ready to get a mortgage and buy your home. You have a down payment saved, you have proven your ability to pay with 36 monthly payments. If, however, you change your mind and don’t want to buy the property you have been living in, that’s okay too. Dwellr will give you your built-up savings (less costs) and you can walk away.