First-Time Buyer Guide Ireland 2026: Everything You Need to Know

Buying your first home in Ireland in 2026 is both exciting and daunting. With average house prices at €365,000 nationally (€540,000 in Dublin), navigating Central Bank rules, mortgage options, and the Help-to-Buy scheme requires careful planning. This comprehensive guide walks you through every step of the first-time buyer journey.

Am I a First-Time Buyer?

The Revenue definition of a first-time buyer (FTB) is:

• Never owned a home anywhere in the world
• Never received a property as a gift or inheritance
• Buying to live in (not investment)
• Both partners must be FTBs (if buying jointly)

Key FTB Benefits

1. 90% Loan-to-Value (LTV): Borrow up to 90% of property value
2. Help-to-Buy: Up to €30,000 tax rebate on new builds
3. Exemptions: No stamp duty on properties under €500k (new builds)
4. Shared Equity: Government co-investment scheme (limited availability)

Step 1: Calculate What You Can Afford

Central Bank Mortgage Rules 2026

Loan-to-Value (LTV):

• First-time buyers: 90% maximum
• Non-FTBs: 80% maximum
• Example: €350k house = €35k deposit (FTB) vs €70k (non-FTB)

Loan-to-Income (LTI):

• Maximum 4x gross income (3.5x for most lenders)
• Example: €50k salary = €200k maximum mortgage (€175k typical)

Affordability Calculator

Single Buyer:

• Salary: €50,000
• Maximum mortgage: €175,000 (3.5x)
• 10% deposit: €19,444
• Maximum house price: €194,444

Couple (Joint Application):

• Combined salary: €90,000
• Maximum mortgage: €315,000 (3.5x)
• 10% deposit: €35,000
• Maximum house price: €350,000

Monthly Repayment Examples

House Price	Deposit (10%)	Mortgage	Rate	Monthly Payment
€250,000	€25,000	€225,000	3.9%	€1,075
€350,000	€35,000	€315,000	3.9%	€1,505
€450,000	€45,000	€405,000	3.9%	€1,935

Based on 30-year mortgage at 3.9% fixed rate

Step 2: Save Your Deposit

How Much Do You Need?

For a €350,000 house:

• Deposit (10%): €35,000
• Stamp duty: €0 (new build) or €3,500 (second-hand)
• Legal fees: €2,500
• Survey: €500
• Bank fees: €1,200
• Total: €39,200 (new) or €42,700 (second-hand)

Saving Strategies

1. Help-to-Buy Scheme

• Claim up to €30,000 (10% of purchase price, max €500k property)
• Must be a new build
• Requires 4 years of income tax payments
• Can be used as part of deposit

2. First Home Scheme (Shared Equity)

• Government co-invests up to 30% (new builds) or 20% (second-hand)
• Reduces deposit and mortgage needed
• Limited availability, income caps apply
• Must repay government share when selling

3. Deposit Saving Timeline

Monthly Saving	Time to €35k Deposit
€500	70 months (5.8 years)
€750	47 months (3.9 years)
€1,000	35 months (2.9 years)
€1,500	23 months (1.9 years)

Pro Tip: Open a dedicated savings account with highest interest rate (currently 2-3% on demand accounts).

Step 3: Get Mortgage Approval in Principle (AIP)

Timeline: 2-4 Weeks

An Approval in Principle (AIP) shows sellers you're a serious buyer.

Documents Required

Personal:

• Photo ID (passport/driver's license)
• Proof of address (utility bill, bank statement)
• PPS number

Financial:

• 6 months' bank statements (all accounts)
• 3 months' payslips
• P60 (last 2 years)
• Proof of deposit savings
• Credit report (ICB)

Property:

• Not needed for AIP (required for full approval)

Best Mortgage Lenders 2026

Lender	3-Year Fixed	5-Year Fixed	Green Rate	Cashback
AIB	3.85%	3.75%	3.65%	€2,000
BOI	3.95%	3.80%	3.70%	€3,000
Avant	3.75%	3.70%	3.60%	€2,000
PTSB	3.90%	3.85%	3.75%	€5,000

Green Mortgages: 0.1-0.25% discount for BER A/B rated homes

Using a Mortgage Broker

Pros:

• Access to all lenders
• Expert advice
• Handles paperwork
• Often free (lender pays commission)

Cons:

• May push certain lenders
• Not always cheapest option

Recommended Brokers:

• Mortgage Advice Bureau
• Doddl
• Switcher.ie

Step 4: Find Your Home

Where to Search

Property Portals:

• Daft.ie (largest selection)
• MyHome.ie
• Property.ie
• Gaffo.ie (PPR data + listings)

Estate Agents:

• Register with local agents
• Get alerts for new listings
• Attend open viewings

What to Look For

Essential Checks:

• BER Rating: Target B3 or higher (lower heating costs)
• Structural Condition: Cracks, damp, roof condition
• Location: Schools, transport, amenities
• Future Development: Check local planning applications
• Flood Risk: Check OPW flood maps

Red Flags:

• Pyrite/mica issues (especially in Donegal, Mayo, Clare)
• Major structural cracks
• Damp/mold
• Electrical/plumbing issues
• Flat roof (maintenance issues)

Viewing Checklist

✓ Test all taps and showers ✓ Check water pressure ✓ Inspect attic and foundations ✓ Test all windows and doors ✓ Check for damp (smell, stains) ✓ Verify BER certificate ✓ Ask about heating costs ✓ Check mobile signal ✓ Visit at different times of day ✓ Talk to neighbors

Step 5: Make an Offer

How Much to Offer?

Market Conditions 2026:

• Dublin: Offer 2-5% below asking
• Cork/Galway: Offer at asking or 1-2% below
• Regional: Offer 5-10% below asking

Bidding Wars:

• Set your maximum price beforehand
• Don't get emotionally attached
• Walk away if it exceeds budget

Offer Process

1. Verbal Offer: Through estate agent
2. Written Offer: If accepted, put in writing
3. Booking Deposit: €5,000-€10,000 (refundable if mortgage fails)
4. Sale Agreed: Property off market

Pro Tip: Include mortgage approval clause in offer to protect yourself.

Step 6: Engage a Solicitor

Timeline: 8-12 Weeks to Closing

Costs: €1,500-€3,500

What's Included:

• Title searches
• Contract review
• Land Registry registration
• Stamp duty payment
• Closing coordination

Finding a Solicitor:

• Get 3 quotes
• Ask for fixed fee (not hourly)
• Check Law Society register
• Read reviews

Conveyancing Process

1. Contract Received: Solicitor reviews
2. Searches: Title, planning, local authority
3. Mortgage Pack: Sent to lender
4. Contracts Signed: Both parties sign
5. Closing Date: Keys handed over

Step 7: Get a Survey

Cost: €400-€800

Types of Surveys:

1. Valuation Survey (€400-€500)

• Required by lender
• Basic structural check
• Not comprehensive

2. Homebuyer Survey (€600-€800)

• Detailed structural inspection
• Identifies major issues
• Recommended for all properties

3. Full Structural Survey (€1,000-€2,000)

• Comprehensive inspection
• Essential for older properties (pre-1970)
• Includes specialist tests

When to Get Survey:

• After offer accepted
• Before contracts signed
• Allows renegotiation if issues found

Step 8: Final Mortgage Approval

Timeline: 4-6 Weeks

Documents Required

Property:

• Signed contracts
• Valuation survey
• BER certificate
• Property insurance quote

Additional Financial:

• Updated bank statements
• Recent payslip
• Proof of booking deposit paid

Mortgage Offer

Once approved, you'll receive:

• Formal mortgage offer letter
• Loan amount and term
• Interest rate and type
• Monthly repayment amount
• Conditions (insurance, etc.)

Review Carefully:

• Check all details correct
• Understand all fees
• Note any conditions
• Ask questions before signing

Step 9: Home Insurance

Cost: €300-€600/year

Required by Lender:

• Buildings insurance (mandatory)
• Covers structure and fixtures
• Must start from closing date

Optional but Recommended:

• Contents insurance
• Mortgage protection insurance (life insurance)

Getting Quotes:

• Compare at least 3 insurers
• Bundle buildings + contents for discount
• Check excess amounts
• Verify what's covered

Step 10: Closing Day

Final Steps

1 Week Before:

• Final walk-through of property
• Confirm closing date with solicitor
• Arrange mortgage drawdown
• Book movers

Closing Day:

• Solicitor receives mortgage funds
• Balance paid to seller
• Keys collected from estate agent
• You're a homeowner!

Costs on Closing Day

• Stamp duty (if applicable)
• Land Registry fees: €400-€800
• Solicitor's final bill
• First month's mortgage payment

Total Cost Breakdown: €350,000 House

Item	Cost
Deposit (10%)	€35,000
Stamp duty (second-hand)	€3,500
Solicitor fees	€2,500
Survey	€600
Valuation	€150
Bank fees	€1,200
Insurance (first year)	€450
Moving costs	€800
Total Upfront	€44,200

Monthly Costs:

• Mortgage: €1,505
• LPT: €30
• Insurance: €40
• Maintenance: €100
• Total Monthly: €1,675

Common Mistakes to Avoid

1. Overextending Budget: Leave buffer for unexpected costs
2. Skipping Survey: Can cost thousands in repairs later
3. Not Reading Contracts: Understand what you're signing
4. Ignoring BER Rating: Low rating = high heating costs
5. Rushing Decision: Take time to view multiple properties
6. Forgetting Ongoing Costs: LPT, insurance, maintenance
7. Not Checking Flood Risk: Can affect insurance and resale
8. Buying at Peak: Consider market timing

Help-to-Buy Scheme Explained

Eligibility

✓ First-time buyer ✓ Buying new build (or self-build) ✓ Property value ≤ €500,000 ✓ Paid income tax in Ireland (last 4 years) ✓ Buying to live in (not investment)

How Much Can You Claim?

• 10% of purchase price
• Maximum €30,000
• Based on income tax paid over 4 years

Example:

• House price: €350,000
• 10% = €35,000
• But capped at €30,000
• Claim: €30,000

How to Claim

1. Apply through Revenue MyAccount
2. Provide proof of purchase
3. Revenue pays builder directly
4. Or claim refund after closing

Pro Tip: HTB can be used as part of your deposit, reducing cash needed.

Timeline: First-Time Buyer Journey

Stage	Duration	Cumulative
Save deposit	2-4 years	-
Get AIP	2-4 weeks	2-4 weeks
Find property	2-6 months	3-7 months
Offer accepted	1-2 weeks	3.5-7.5 months
Conveyancing	8-12 weeks	5.5-10.5 months
Total	2-4 years + 6-11 months	-

Frequently Asked Questions

Q: How much deposit do I need as a first-time buyer? A: 10% minimum under Central Bank rules. For a €350k house, that's €35k, plus €7k-€10k for fees and costs.

Q: Can I buy with a partner who's not a first-time buyer? A: Yes, but you lose FTB benefits (90% LTV, Help-to-Buy). You'll need 20% deposit.

Q: What credit score do I need? A: No minimum score, but lenders check ICB report. Clear any arrears and keep credit utilization low.

Q: Can I buy if I'm self-employed? A: Yes, but you'll need 2-3 years of accounts and tax returns. Approval is harder but possible.

Q: Should I buy new build or second-hand? A: New builds qualify for Help-to-Buy (€30k) but cost more. Second-hand offers better value but needs renovation.

Q: How long does mortgage approval take? A: AIP: 2-4 weeks. Full approval: 4-6 weeks after offer accepted.

Conclusion

Buying your first home in Ireland in 2026 requires careful planning, patience, and typically €40k-€50k in upfront costs for a €350k property. The journey from saving to closing takes 2-4 years, but with the right preparation, it's entirely achievable.

Key Takeaways:

• Save 10% deposit + €7k-€10k for fees
• Get mortgage AIP before viewing
• Use Help-to-Buy for new builds (€30k)
• Budget for ongoing costs (€1,675/month for €350k house)
• Engage solicitor and surveyor early
• Don't rush – view multiple properties

Ready to start your journey? Use our Buy vs Rent Calculator to see if buying makes financial sense for you, and explore property prices by county to find the best value areas.