Buying properties developed through GRO grants (low cost home ownership)
Glasgow City Council has a grant, known as the GRO Grant, available to private housing developers to go towards the cost of providing low cost homes for owner occupation. The housing for sale provided by such a grant may be new build, conversions or renovated existing buildings.
The grants may be conditional on priority being given to:
- housing association or co-operative tenants
- those on their waiting lists
- those on low income
- first time buyers.
There are restrictions placed on selling on properties bought through GRO grants. If the property is sold within the first few years of purchase, a proportion of the sale cost must be paid back The exact nature of these restrictions varies from one scheme to another.
If you have bought (or are considering buying) a low cost home ownership property you should ensure that you are aware of any resale restrictions that may be in place for the first few years of ownership.
The level of discount available on the property will depend on the local property market.
Properties available for sale are generally advertised by the developer, but information may also be obtained from Glasgow City Council.