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Elderly people could be offered tax breaks to downsize their homes

Jun 24, 2021 13:06 By Shannonside News
Elderly people could be offered tax breaks to downsize their homes Elderly people could be offered tax breaks to downsize their homes
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There is a growing campaign to build more home for older people

Elderly people living in large homes may be offered tax incentives and grants to downsize. It's a measure being considered by Government ahead of the publication of the 'Housing For All' plan.

The Housing For All plan is not finalised with a government spokesperson saying "nothing is set in stone" and "everything is still on the table"

The plan will layout a roadmap for how to sort the housing crisis and one such measure being considered is encouraging elderly people in 3 and 4 bed homes to "rightsize".

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CEO of Alone Sean Monyihan says building homes for older people is the key to solving the housing crisis.

72-year-old Mick McCarthy moved from a house to a one-bed apartment and is happier than ever.

Research shows that 15 percent of older people would consider downsizing if they could stay within their community. It's estimated that would free up 60 to 70 thousand larger units suitable for families.

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