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BUYING A HOME in Ireland is one of the biggest financial decisions people make, not to mention one of the most stressful. But buyers who focus on what they can control put themselves in a far stronger position, regardless of where house prices go next.
Anyone looking to buy right now knows how tough it is. Supply is tight. Competition is intense. Homes can disappear within days, bidding wars regularly push prices well beyond asking, and sales can drag on for months or fall apart late in the process. At the same time, rent continues to rise, making it harder to save.
So, it’s no surprise that many buyers feel stuck, caught between the fear of buying at the wrong time and frustration at not being able to move on.
In that environment, it’s easy to fixate on house prices: will they fall, will they rise further, should I wait? But after years of working with people looking to buy a home, one thing is clear: trying to predict the market won’t get you any closer to getting a mortgage.
House prices are driven by factors well beyond any individual buyer’s control, such as housing supply, population growth and broader economic conditions. What buyers can control is whether the cost of owning a home works for their life.
Last year, of the 4,000 people we helped to buy a home, around 75% were first-time buyers, many of whom believed home ownership was out of reach. So, buying a house, while challenging, is possible.
Get advice early – it changes the outcome. One of the biggest mistakes buyers make is leaving the mortgage conversation too late. They start house-hunting before understanding how much they can borrow, how their income will be assessed, or what lenders will expect to see.
Buyers who speak to a broker early give themselves a clear advantage. Those early conversations often flag issues that can be fixed, such as consistent savings habits, and provide a clear plan to get mortgage ready.
Understanding what you can borrow based on your actual financial circumstances is a critical first step.
It helps you make realistic decisions about property type, location and expectations — and avoids those tough moments when you fall in love with homes that were never really a possibility in the first place.
And remember – your first home doesn’t need to be your forever home. It just needs to be the right one for you now.
We often remind buyers that the price of a home matters most on the day you buy it and the day you sell it. What really matters is whether you can comfortably live with the repayments in between.
Repayments are influenced by your deposit, interest rate, mortgage term and loan structure. Two people buying similar homes can end up in very different financial positions depending on the decisions they make at the mortgage stage. A good mortgage should support your life, not restrict it.
While a 10% deposit is required for most buyers, in practice it’s sensible to aim closer to 12%. That extra margin helps cover stamp duty (1% on most homes) and legal fees, which are typically around €3,000.
Deposits are generally funded through personal savings, a family gift, or the First Home Scheme. What lenders care about most is clarity – knowing where the money came from and that it’s genuinely available.
If you’re planning to buy, these steps will significantly strengthen your position.
Don’t wait until you’ve found a property. A broker can help you to understand your budget, improve your financial position, and get ‘mortgage ready’.
This can take a few months, so don’t delay. Contact a broker when you’re thinking about buying a home.
A broker works with multiple lenders and understands how different banks assess income, deposits and repayment ability.
Not all mortgage lenders treat bonuses, commission or overtime the same way, and choosing the right lender can affect how much you can borrow.
Lenders typically want to see at least six months of evidence that you can meet the proposed repayments, through rent, savings or both.
Six months of clean bank statements matter. Paying bills on time, avoiding overdrafts and not relying on short-term credit shows financial control.
Changing jobs, stopping savings, taking on new finance or altering how your deposit is funded can all affect approval – even late in the process.
After years of helping people to get a mortgage, one thing is clear: buying a home has never been simple or straightforward, and it rarely feels easy at the time.
Every day, we see that customers who focus on preparation, affordability and sustainable repayments do get there.
It doesn’t happen overnight, and it doesn’t always follow a straight line, but it is possible to buy a home with the right preparation and advice.
Conor McGowan is Managing Director of Finance Solutions, Ireland’s largest mortgage broker. More at financesolutions.ie.
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