Let’s be real: trying to buy your first home in Ireland right now is tough. House prices are sky-high, inflation is chipping away at your savings, and the cost of living makes budgeting feel nearly impossible.
But here’s the thing: buying a home is still possible, even in this economy. It’s not easy, but with the right plan, a clear budget, and a bit of patience, you can absolutely get there.
If you’re at the beginning of your home-buying journey and wondering how you’ll ever afford it, this guide is for you.
What Are Houses Actually Costing in Ireland Right Now?
Let’s talk about the numbers, because it’s hard to budget if you don’t know what you’re aiming for.
As of Q1 2025, the average house price in Ireland is €347,000. In Dublin, it’s much higher, sitting at around €450,000. And if you’re thinking of buying a newly-built, the median price between July and December 2024 was a hefty €438,500.
However, prices aren’t the same everywhere. In some of the more affordable counties—like Longford, Leitrim, or Roscommon—you could find homes starting from €180,000 to €220,000. So, depending on where you’re looking, there’s still a range of options out there. The key is knowing what to expect before diving into the market.
Is There Some Hope on the Horizon?
It might not feel like it right now, but experts are predicting a shift in Ireland’s housing market. With more homes being built and interest rates expected to stabilise, house prices could start to cool between 2025 and 2027.
That means if you’re starting your savings or mortgage planning now, you could be in a better position by the time you’re ready to buy. It’s not instant relief, but it is a glimmer of hope for first-time buyers watching the market closely.
So, even if you can’t buy tomorrow, starting your budget and savings plan today could put you in a strong position when prices ease.
What Do You Actually Need to Budget For?
It’s not just about saving for the deposit; there are a few other costs that can sneak up on first-time buyers if you’re not prepared.
On top of your deposit, you’ll also need to budget for one-off costs like stamp duty, which is 1% of the property price on homes valued up to €1 million; legal fees (2,500–€3,000), and valuation or surveyor fees (€300–€500 plus VAT at 23%).
Then there are the ongoing monthly costs. Aside from your mortgage repayments, you’ll also need to factor in home insurance, mortgage protection insurance (which varies by age and cover), and your Local Property Tax (LPT), which is charged every year based on your home’s market value.
For a full breakdown, check out our blog on extra costs when buying a home in Ireland and financial tips for new homeowners—they’re packed with helpful info to make sure nothing catches you off guard.
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