5 Top Tips for Finding Property in Ireland

Published on 04 February 2008
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The latest house price figures and statistics from Ireland reveal that following a decade of growth, prices began declining in 2007 - meaning that it is getting more affordable a market to buy into by the day.

Prices declined across the nation by an average of 7.3% last year according to the national House Price Index, and today, an average three-bedroom semi detached property in Ireland will set you back EUR 299,412.  If you’re hunting for a new home anywhere on the Emerald Isle, here are our 5 top tips for finding property in Ireland.

Property Type

You need to think about what type of property you want to buy based on your personal circumstances currently - but also based on the plans you have for your short to medium term future.  If you’re young free and single today, perhaps an apartment with just one bedroom will suffice, but what if you meet Mr. or Miss Right…maybe if you could afford two bedrooms the additional space may come in handy.

If you’re a young couple and you’re looking at a two-bedroom semi, how about considering a three bedroom terrace property instead if your intention is to start a family soon, the additional internal space will be useful. 

Think carefully about the property type that suits you best – also, think about any extras you might like - will you need an office for example, how many spare rooms will you require, how much garden and outside space do you need?  Make a list of minimum requirements and must haves to make searching for the ideal property in Ireland that much easier.

Location

Consider the amenities and facilities that you will need nearby.  Will you need to be close to public transportation, shops, schools, doctors or leisure facilities?  Or are you better off located in a rural setting miles from anyone and anything?!  Consider your requirements and those of your partner and/or family to help you get a feel for which locations will suit you best.

Add any special location requirements to your above list of property requirements to begin building as full a picture as possible of your ideal home.  This will help both you and your estate agent find exactly what you’re looking for.

Affordability & Mortgages

Before you get too carried away and start viewing every wonderful property coming to the market, you need to save yourself time and you need to get as realistic an idea in mind of how much you can afford to spend on a home in Ireland. 

First things first, you have to add up the savings you have available to use as a deposit.  Then you can go online and search for mortgage calculators for Ireland, and by inputting a combination of data such as the amounts you and your spouse earn and your outgoings you will get a rough idea of how much you can borrow.  You can then input how much you want to borrow, over what period and give an indication of the current interest rate and find out what monthly interest repayments will be.

This is just the first step though – because these mortgage calculators are very generic.  You then have to approach a mortgage lender or you could speak to a broker who will approach lenders for you.  You need to do this to find out exactly how much a lender will be prepared to lend you.  A lender can give you a decision in principle with which you can go forward and begin looking at properties within that price bracket.

Finding Property in Ireland

With an idea of the property type you want, the location and the amount you have to spend you can now approach estate agents and auctioneers in Ireland and begin hunting for a home.  You can also go online and search, you can look in local newspapers for properties and you can be as proactive as you want to be in finding the perfect home for you and your family.

Ideally you will do quite a lot of the legwork because you cannot rely on estate agents to tell you when something new comes to market – yes they should inform you, and some are efficient and will, but others are less efficient and won’t unless you call them up and remind them what you’re in the market for at least once a week.

Stay on the ball, keep looking and before long you will have a selection of properties to view.

Legal Advice

And finally, unless you’re a solicitor yourself you would be unwise to enter into any form of purchase commitment in Ireland without engaging professional legal assistance.  The process to purchase is not overly complicated, but searches need to be conducted on everything from the validity of the title deed to whether there are plans to build a motorway through the back yard of the home for sale.  Do not try and buy a property in Ireland without the services of a qualified solicitor who is experienced in home conveyancing.

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