Buying your first home in Ireland can feel like a rollercoaster of emotions, excitement, nerves, confusion, and hope all bundled into one. For many, buying your first property in Ireland comes with challenges such as saving for a deposit and getting mortgage approval, which can feel overwhelming at times. But you’re not alone. Many of us at MortgageLine remember the journey vividly. That’s why having a clear guide to buying your first home is so valuable.
“I was just starting out in my career when I bought my first home, and thankfully, my parents were able to help me. Without their support, it would have taken me much longer to get on the property ladder. Not everyone is that fortunate. Looking back, it probably wasn’t the perfect time to buy, but people buy when they’re ready, not when the market says they should. A home isn’t just an investment; it’s long-term security for you and your family.”
— Stephen Hamilton
We’ve helped thousands of Irish buyers navigate their first steps onto the property ladder, and we’ve gathered real insights and practical advice to help you do the same.
Top Challenges for First-Time Buyers in Ireland
Before getting to the exciting part, let’s start with the not-so-fun part: the challenges. Knowing what you’re up against can make it easier to plan ahead.
Typical challenges include:
- Saving for a deposit (usually a minimum of 10%)
- Rising house prices and lack of properties for sale
- Proving affordability to lenders
- Getting mortgage approval in a competitive market
These hurdles can feel intimidating, but with the right tips for buying your first home and guidance from mortgage experts, you’ll be better prepared to succeed. That’s why it pays to explore mortgage options tailored to first-time buyers and get expert mortgage advice as a first-time buyer.
Government Schemes and Buyer Supports
If you’re buying your first home in Ireland, you don’t have to do it alone. The Irish government offers several support schemes designed to make the process of buying your first home more affordable for first time buyers. These can be a huge help when saving for a deposit or covering the shortfall between your mortgage and the property price.
Two key Government schemes to know about:
- Help-to-Buy Scheme: This scheme gives first time buyers a tax refund of up to €30,000 to assist with your deposit. It applies only to new build homes and can significatly reduce the time it takes to save.
- First Home Scheme: A shared equity scheme where the government helps cover part of the cost of the purchase of your new home in return for a percentage stake in the property.
Real example: Sarah and James used both schemes to buy a 3-bed semi in Meath, reducing their upfront costs by over €40,000.
House Price = €375,000
Deposit Savings = €18,750
Maximum Mortgage offered = €296,000 (€74,000 Income X 4)
Shortfall = €60,250
Clients received the full €30,000 Help to buy amount and €30,250 from the First Home Equity Scheme. Family helped with the associated legal and moving in costs. See also First Home Scheme Ireland.
For more detail on these and other supports, learn how mortgages work for beginners.
Step-by-Step Advice from Experienced Buyers
We asked to dozens of real first-time buyers who’ve been through it about their experience. Here are the top tips they shared:
- Get Your Finances in Order
- Review your savings and spending habits.
- Eliminate unnecessary debts.
- Know what you can realistically afford before you start house hunting.
- Choose Your Location Wisely
- Balance budget, commute, amenities, schools, and lifestyle.
- Visit potential areas at different times of day to get a realistic feel.
- Get Mortgage Pre-Approved
- Pre-approval shows sellers you’re serious.
- It gives you a realistic price range.
- You can apply online for your mortgage pre-approval in just a few minutes.
- Build Your Support Team
- A mortgage advisor (like MortgageLine!)
- Solicitor
- Surveyor
- Estate agent
- Compare Mortgage Offers
- Look at fixed vs variable rates
- Review the length of the term
- Compare fees and incentives
- If you already have an offer but it doesn’t feel right, compare switching options if your deal isn’t right
Taking these steps can make buying a home as a first-time buyer feel far less stressful and give you more confidence in your decisions.
Need help? Speak with a MortgageLine advisor today.
Summary Checklist to Get Started
Before you start the journey, it helps to have a clear buying first home checklist to keep things on track. Here’s your go-to list to kick things off:
- Set a realistic budget and start saving early
- Check eligibility for Help-to-Buy and First Home Scheme
- Apply for mortgage pre-approval
- Start house-hunting with realistic expectations
- Engage a trusted mortgage advisor
You don’t have to go it alone. With MortgageLine, you’ll have a team of experts who’ve helped thousands of first time buyers just like you.
Ready to Secure Your First Mortgage with MortgageLine?
Let us help you get mortgage-ready, find the right lender, and secure the best terms without the stress. With our experience and wide lender network, we’ll help you turn your first home dream into a reality.
We’ll help you:
- Get mortgage-ready with a clear plan
- Compare lenders and secure the right deal
- Understand your options with expert advice for buying your first home in Ireland
Your dream of buying your first home is within reach and the right guidance makes all the difference.
Apply online for your mortgage pre-approval or speak with a MortgageLine advisor today. We’re here when you’re ready.
FAQs
How much deposit do I really need to buy in Ireland?
Typically, most first time buyers will need at least 10% of the purchase price. For example, a €300,000 home would require a €30,000 deposit.
Can I buy with just one income as a first-time buyer?
Yes, but your borrowing capacity will be based on 3.5 times your income. Lenders will also review your monthly expenses.
Are second-hand homes eligible for support schemes?
The Help-to-Buy scheme applies only to new builds. However, the First Home Scheme may apply to certain second-hand properties.
What happens if my mortgage is delayed before closing?
A delay can push back your purchase date, but your advisor and solicitor will work to resolve it quickly. Always build in buffer time.
Can I buy a home while still living abroad?
Yes, many Irish citizens buy while living overseas. You’ll need proof of income, savings, and a solid plan to return or rent out the property.
