Buying your first home in Ireland: a step-by-step guide

Buying a home is exciting, but the process can feel like a maze of mortgage forms, estate agents, solicitors and unfamiliar terms. Don't worry. We'll walk through the usual steps in plain English, from working out your budget to finally getting the keys.

A quick note before you start: Every purchase is different. This guide is general information, not mortgage, legal or tax advice. Your lender and solicitor should explain what applies to your own circumstances.

1. Work out what you can comfortably afford

Before you start scrolling through property listings, take a good look at your finances. Think about your household income, regular bills, existing loans, savings and how much you can realistically afford each month.

Remember, the bank's maximum mortgage offer is not necessarily the amount you should borrow. Leave room in your budget for energy bills, food, transport, insurance, maintenance and the unexpected costs that come with owning a home.

As a starting point, use the HomeReady mortgage calculator to estimate repayments at different interest rates and mortgage terms. It is an illustration, not a mortgage offer or an affordability assessment.

2. Understand the deposit and other buying costs

For a home you intend to live in, the Central Bank's standard loan-to-value limit generally means first-time buyers and second or subsequent buyers need at least a 10% deposit. Buy-to-let buyers generally need at least 30%. Lenders can apply their own criteria, and limited allowances above the standard limits may be available.

For example, on a home costing €300,000, a 10% deposit would be €30,000. That is only the deposit: you should also budget for costs such as stamp duty, solicitor fees, a valuation, an independent survey if appropriate, insurance and moving expenses.

Some first-time buyers purchasing a qualifying new-build or self-build may be eligible for the Help to Buy scheme. Eligibility and the amount available depend on Revenue's rules, so check the current conditions rather than assuming you will receive the maximum.

3. Get mortgage approval in principle

Approval in principle (often shortened to AIP) gives you an indication of how much a lender may be willing to lend based on the information you provide. It helps you set a realistic property budget and may be requested by an estate agent when you make an offer.

It is not a final mortgage approval and it does not guarantee that a lender will approve a particular property or release the money. The lender will carry out further checks later.

You will usually be asked for documents such as identification, proof of income, payslips, bank statements and details of existing loans or other financial commitments. If you are self-employed, the lender may ask for additional accounts and tax documents.

It is worth comparing lenders and asking about the interest rate, fixed or variable options, fees, cashback conditions and what happens when an introductory rate ends. Don't choose based on a headline offer alone.

4. Understand how much you may be allowed to borrow

Central Bank mortgage measures generally limit borrowing for a principal home to four times gross annual income for first-time buyers and 3.5 times gross annual income for second and subsequent buyers. These are limits within the rules, not a promise that a bank will lend you that amount. The lender must still assess whether the mortgage is suitable and affordable for you.

For example, a first-time buyer household with gross annual income of €80,000 would have a standard loan-to-income limit of €320,000. A second or subsequent buyer household on the same income would have a standard limit of €280,000. Lenders have limited flexibility to lend above the limits, but you should not build your plans around receiving an exception.

Check the Central Bank's current mortgage measures and speak to your lender or broker about your own position.

5. Find a property and do your homework

Once you have a budget and approval in principle, you can start viewing properties. Try to look beyond the photos. Think about the condition of the home, heating, insulation, BER rating, parking, transport, local services, management fees (if it is an apartment or managed development) and any work you might need to do.

Check recent sale prices for similar homes and decide your maximum offer before bidding. It is easy to get caught up in the excitement of an online bidding process. Set a limit and don't feel pressured to go beyond it.

If you are considering an older property, an independent survey can help identify issues that may not be obvious during a viewing. A lender's valuation is primarily for the lender and is not a substitute for a detailed survey for your own benefit.

6. Make an offer and go sale agreed

If your offer is accepted, the property is usually described as sale agreed. The estate agent may ask you to pay a booking deposit. Ask for written confirmation of the amount, who is holding it and the conditions for its return.

Sale agreed does not usually mean the purchase is legally binding. Until contracts have been signed and exchanged, either side may be able to withdraw and the seller may still consider another offer. Keep in touch with the estate agent and your solicitor, and avoid making major financial commitments on the assumption that the house is definitely yours.

7. Choose a solicitor and let them handle the legal work

Your solicitor looks after the legal transfer of the property, known as conveyancing. They review the contract and title documents, raise questions with the seller's solicitor, check relevant legal matters and guide you through signing and closing.

Ask for a written estimate before you proceed. Check what is included and what may cost extra, such as searches, registration fees, VAT or other outlays. Our questions to ask your solicitor guide can help you prepare.

8. Get full mortgage approval and complete the checks

After your offer is accepted, your lender will usually need more information before issuing a formal Letter of Offer. This can include a valuation of the property, updated bank statements, proof that your circumstances have not changed and any other documents required by the lender.

Your solicitor will also be working through the legal documents and making enquiries about the property. If something needs clarification, it can slow things down. Reply promptly when your lender or solicitor asks for information, and let them know if your circumstances change.

9. Read the contracts carefully before signing

Your solicitor should explain the contract, the property details, the deposit, the closing date and any special conditions. Ask questions if something is unclear. Do not sign simply because you feel under pressure to move things along.

Once contracts are signed and exchanged by both sides, the purchase generally becomes legally binding. Pulling out after that point can have serious financial and legal consequences. Make sure your mortgage arrangements and any conditions have been properly dealt with before signing, on your solicitor's advice.

10. Get ready for closing and mortgage drawdown

As closing approaches, your solicitor will tell you what money needs to be transferred and when. This may include the balance of your deposit, stamp duty, legal costs and registration costs. Your lender will also set conditions that must be met before the mortgage funds can be released.

Arrange the insurance required by your lender. Mortgage protection is generally required for most residential mortgages, although exemptions can apply. Buildings insurance is also normally required. Ask your lender and solicitor exactly what cover must be in place and by what date.

Mortgage drawdown is when the lender releases the mortgage funds, usually to your solicitor, so the purchase can be completed. Keep some money aside for moving, furniture, appliances and the first few bills rather than spending every available euro on the purchase.

11. Closing day: getting the keys

On closing, your solicitor coordinates the transfer of the purchase money and the legal documents. Once the sale has completed and the seller's side confirms that everything is in order, arrangements are made for you to collect the keys.

Before moving in, take meter readings where relevant, check how to operate the heating and alarms, locate stopcocks and fuse boards, and keep copies of important documents. If you are buying a new build, use a snagging list to record defects and unfinished items, and agree the process for having them addressed.

A few common mistakes to avoid

Spending your entire savings on the deposit and forgetting the other buying costs.
Assuming approval in principle guarantees the mortgage.
Taking out a car loan or other new credit during the mortgage process without checking with your lender.
Making an offer without knowing your absolute maximum budget.
Assuming sale agreed means the house is legally yours.
Signing contracts before your solicitor has answered your questions.
Leaving insurance, documents or money transfers until the last minute.

Your first-home checklist

Work out a realistic monthly budget.
Check your deposit and additional buying costs.
Explore Help to Buy eligibility if buying a qualifying new build or self-build.
Compare mortgage lenders and get approval in principle.
Choose a solicitor and understand their fees.
View properties and set a firm bidding limit.
Arrange a survey where appropriate.
Get full mortgage approval and read the Letter of Offer.
Ask your solicitor to explain the contract before signing.
Arrange required insurance and transfer closing funds safely.
Confirm closing and key collection arrangements.

Useful official Irish resources

HomeReady tip: You don't need to know everything on day one. Take it one stage at a time, keep copies of emails and documents, and ask your solicitor, lender or broker whenever you're unsure.

Last reviewed: November 2026. Rules, scheme conditions and fees can change. Check the linked official sources before making a decision. HomeReady is an independent information resource and does not provide mortgage, legal, tax or property advice.