Take steps to get on ladder

Face the challenge of buying your first home

- BY LORNA McCARTHY Irish property expert

BUYING your first home in Ireland is a major milestone, but it can also feel overwhelming.

The market has seen sharp price increases, limited supply, and stringent lending rules.

But first-time buyers can navigate the process with actionable strategies, creative deposit-saving methods, and insights into the challenges you're likely to face - and how to overcome them. Here's my guide on how to do it...

UNDERSTANDING THE IRISH HOUSING MARKET

In recent years, Ireland's housing market has been defined by high demand and insufficient housing supply.

This has driven prices up, particularly in Dublin, Cork, and Galway. As a first-time buyer, it's crucial to approach the market with a clear plan and flexibility on location and property type.

In 2025, the average house price nationally hovers around €340,000, while Dublin remains significantly higher. Government schemes and lender supports are available, but securing a property still requires huge preparation.

HOW MUCH CAN YOU BORROW?

Mortgage lending in Ireland is governed by Central Bank rules:

Loan-to-Value (LTV): First-time buyers can borrow up to 90% of the property's value.

Loan-to-Income (LTI): You can usually borrow up to four times your gross annual income.

For example, a couple earning €80,000 annually could borrow up to €320,000.

This means a 10% deposit is required up front one of the biggest hurdles for new buyers.

CREATIVE WAYS TO SAVE A DEPOSIT

Saving for a deposit in a high-rent environment is tough. Here are some effective and creative strategies to speed things up:

Use the Help to Buy Scheme