How to Buy Your First House in Ireland

Looking to buy your first house in Ireland? This year may be the best time to make this happen with reports stating that there is an increase in the number of houses set to be released in the market this 2018. But before you purchase your first home, make sure you arm yourself with the right information. This is the key to avoiding costly mistakes and ensuring the success of this undertaking.

What are the tasks involved in purchasing a house? What should you keep an eye on? What should you not do? Read on to know the steps in buying a house in Ireland as well as other pertinent information which can help you in this task.

Know What You Can Afford

This is one of the golden rules when buying a house. You cannot go house hunting without having an idea of how much you can afford. So, unless you have savings to pay for the entire cost of a property, the first step is to determine how much you can borrow from lending institutions.

Based on the Central Bank of Ireland’s directive, first-time homebuyers like you can borrow up to 3.5 times your annual gross income. Alternatively, you may also be allowed to borrow 90% of the total value of the property you are planning to buy. Meanwhile, for your deposit, the minimum amount required is 10% of the purchase price. Depending on the location of the house you are eyeing, the deposit can range from €13,000 to over €50,000.

Borrowing a large amount may seem convenient in the short-term. However, your future, specifically your financial capability, must be taken into consideration. Think about the amount you are capable of and comfortable paying monthly for the duration of the mortgage term. Keep in mind, on top of the repayments, there are other house-related expenses you need to regularly pay for such as insurance, tax and maintenance services. So, be prudent and take all these into consideration when borrowing from a lending institution.

An ‘Approval in Principle’, is going to be handed to you when your mortgage application is approved. With a validity of six months, the ‘Approval in Principle’ can improve your credibility to sellers and estate agents.

On top of the deposit and mortgage payments, you also have to factor in other expenses related to purchasing a house. Other stuff you need to pay for are fees for property survey, real estate agent and legal matters, among others.

Work with an Estate Agent

Once you determine how much you can afford, the next step is to look for a house. To make the house hunting seamless and less stressful, hire a professional real estate agent. With her extensive network and years of experience in the industry, a realtor can find a house that meets your specifications and budget without delays. Furthermore, she can help you navigate the complex process of purchasing house, providing advice and lending a hand to help you accomplish the task smoothly.

When searching for a real estate agent, ask for personal recommendations from family and friends to ensure that you get a good one. Also, before choosing, make sure you set up a meeting with the realtor to determine if you are the right fit for each other.

Hire a Solicitor

You need a solicitor to take care of the paperwork and other legal matters. On top of working on the transfer of the property under your name, she can oversee the inspection of and study the property lines as well as look for potential problems which can affect the value of the house.

The documents involved in the purchase of property are filled with legal jargons which can be difficult to comprehend for those who aren’t in the legal profession. This is where your solicitor comes in; she can explain all these things to you. So, if you do not understand something, consult her.

To avoid delays in the process, see to it that you hire your solicitor early on and not when you already need one. Otherwise, the property you like may end up with another buyer just because you do not have someone ready to take care of legal matters.

Buy the Property

When you’ve decided on a property you want to purchase, the next step is to make an offer. During this process, your agent can help you negotiate to ensure that you get the best deal as well as to win the bid.

If the seller accepts your offer, the status of the transaction enters what’s called ‘sale agreed’. The next step is to pay the booking deposit – doing this lets the seller know that you are serious about buying the property.

Next, a document bearing the sale details will be sent to the solicitors of both parties. Upon receipt of the sale details, the seller’s solicitor is going to send the Title Deeds and contracts to your solicitor. If everything is okay with the property and terms, signing of contract follows. Once this is done and the mortgage funds are released to the seller, you can now prepare to move in.

Learn more about how to buy your first house in Ireland. Talk to our professional real estate agents today. Call us at 01 4959020.

 

 

 

 

 

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Testimonials

Brilliant service, would highly recommend MTS Property for renting your property, Louise & Team are highly knowledgeable and efficient when renting properties. Thanks again,
5.0
2018-11-13T09:31:32+00:00
Brilliant service, would highly recommend MTS Property for renting your property, Louise & Team are highly knowledgeable and efficient when renting properties. Thanks again,
To the Amazing Team in MTS Property!! I am very very appreciative of all that all you have done over the last few weeks. The issues we have had at my property were not previously known to me or anticipated, they have involved much work and for me heartache. I try my best to be a fair landlord and client, I was not informed about the problems backing up by the previous agent. Though you inherited these problems you have dealt with them extremely efficiently.
A very big thank you to all in MTS Property
5.0
2018-11-13T09:31:58+00:00
To the Amazing Team in MTS Property!! I am very very appreciative of all that all you have done over the last few weeks. The issues we have had at my property were not previously known to me or anticipated, they have involved much work and for me heartache. I try my best to be a fair landlord and client, I was not informed about the problems backing up by the previous agent. Though you inherited these problems you have dealt with them extremely efficiently. A very big thank you to all in MTS Property
A big thank you to Louise and her amazing team at MTS Property, recently rented out my property in Templeogue and they were fantastic to deal with from start to finish, went the extra mile!! Many thanks MTS Property
5.0
2018-11-13T09:32:35+00:00
A big thank you to Louise and her amazing team at MTS Property, recently rented out my property in Templeogue and they were fantastic to deal with from start to finish, went the extra mile!! Many thanks MTS Property
I have engaged MTS Property to rent my property and I have to say the service received has been fantastic. Louise, the Letting Agent knows the market and has built up a great tenant database. Her team in the office, Elodie & Tara handled all the paperwork very efficiently. Would highly recommend MTS Property should you be looking to rent your property. Top class service provided.
5.0
2018-11-16T08:32:42+00:00
I have engaged MTS Property to rent my property and I have to say the service received has been fantastic. Louise, the Letting Agent knows the market and has built up a great tenant database. Her team in the office, Elodie & Tara handled all the paperwork very efficiently. Would highly recommend MTS Property should you be looking to rent your property. Top class service provided.
I have known Louise for 7 years and worked on several projects during that time with her. I would work with her again at any time and she is certainly a person who is expert in all areas of property Sales, Lettings and Management. I would recommend her to any landlord or vendor and would also add that the MTS pricing is great value compared to others.

Dave Breen

5.0
2018-10-23T20:05:51+00:00

Dave Breen

I have known Louise for 7 years and worked on several projects during that time with her. I would work with her again at any time and she is certainly a person who is expert in all areas of property Sales, Lettings and Management. I would recommend her to any landlord or vendor and would also add that the MTS pricing is great value compared to others.
We have worked with and continue to work with MTS on a regular basis. I would have no hesitation in recommending MTS. There work is exceptional, they have always delivered on their promises and are a pleasure to work with.

William, Rathmines

5.0
2018-10-23T20:22:14+00:00

William, Rathmines

We have worked with and continue to work with MTS on a regular basis. I would have no hesitation in recommending MTS. There work is exceptional, they have always delivered on their promises and are a pleasure to work with.
May I take this opportunity of thanking you and your colleagues for your, as ever, professional advice and assistance. It is always a pleasure to work with trusted professionals, I was thrilled with the results in selling my property.

Elizabeth Terenure, D6

5.0
2018-10-26T10:40:23+00:00

Elizabeth Terenure, D6

May I take this opportunity of thanking you and your colleagues for your, as ever, professional advice and assistance. It is always a pleasure to work with trusted professionals, I was thrilled with the results in selling my property.
We have worked with MTS since they established in 2000 and we would have no hesitation in recommending them to others. MTS provide one of the most professional letting and property management services in Dublin and we look forward to working with them in the future.

Catherine Rathgar, D6

5.0
2018-10-26T10:40:47+00:00

Catherine Rathgar, D6

We have worked with MTS since they established in 2000 and we would have no hesitation in recommending them to others. MTS provide one of the most professional letting and property management services in Dublin and we look forward to working with them in the future.
Superb service at an excellent price. Job delivered and stuck at until all the tricky stuff was ironed out. Thanks Louise.

Stephen Brown

5.0
2018-10-26T10:41:13+00:00

Stephen Brown

Superb service at an excellent price. Job delivered and stuck at until all the tricky stuff was ironed out. Thanks Louise.
I bought my dream home with a helping hand from MTS. I found MTS sincere, honest and trusted them from day one.
MTS were prompt and delivered any information I requested. I would highly recommend MTS.

Sabrina Dartry, D6

5.0
2018-10-26T10:41:38+00:00

Sabrina Dartry, D6

I bought my dream home with a helping hand from MTS. I found MTS sincere, honest and trusted them from day one. MTS were prompt and delivered any information I requested. I would highly recommend MTS.
I would like to say a huge thank you to Louise and her team for all their help and support with the renting of my property. The service provided was impeccable. This is the second time I have used MTS Property as letting agent and on both occasions I have been extremely happy with the speed, efficiency, knowledge and professionalism of the letting. I have used other letting agents but none have measured up to Louise and the team at MTS. I would recommend all landlords/tenants to use this company – thank you once again.

Alan McGrane

5.0
2018-10-26T10:41:58+00:00

Alan McGrane

I would like to say a huge thank you to Louise and her team for all their help and support with the renting of my property. The service provided was impeccable. This is the second time I have used MTS Property as letting agent and on both occasions I have been extremely happy with the speed, efficiency, knowledge and professionalism of the letting. I have used other letting agents but none have measured up to Louise and the team at MTS. I would recommend all landlords/tenants to use this company – thank you once again.
We got to know Louise by meeting her while selling other houses in our estate, so when the time came to sell our own house, we were confident we had the right person. Louise proved to be a true solid professional at her job and exercised total dedication right down to every last final detail. She never faltered in showing our house as often as needed, was punctual, honest and factual. She tirelessly kept us up to date after every viewing, each offer that came in and throughout the legal process.
We would have no hesitation in recommending MTS Property to anyone selling a house.

Danny & Maeve Cahill

5.0
2018-10-26T10:42:17+00:00

Danny & Maeve Cahill

We got to know Louise by meeting her while selling other houses in our estate, so when the time came to sell our own house, we were confident we had the right person. Louise proved to be a true solid professional at her job and exercised total dedication right down to every last final detail. She never faltered in showing our house as often as needed, was punctual, honest and factual. She tirelessly kept us up to date after every viewing, each offer that came in and throughout the legal process. We would have no hesitation in recommending MTS Property to anyone selling a house.
I have been dealing with MTS Property for as long as I can remember. Since the beginning, I have found them to offer an excellent service. They have always been happy to help me with any matter small or large. I would highly recommend this company to anybody wishing to let their property.

James Renehan

5.0
2018-10-26T10:42:35+00:00

James Renehan

I have been dealing with MTS Property for as long as I can remember. Since the beginning, I have found them to offer an excellent service. They have always been happy to help me with any matter small or large. I would highly recommend this company to anybody wishing to let their property.
I would like to thank you all sincerely at MTS Property for an excellent service from start to finish. The service I received from one of the larger agents was very poor and we had NO offers for 6 months. The first time I met Louise, she assured me that she could sell the house - moreover Louise’s advice was not even to drop the price but to improve the gardens and the interior. The house was sale agreed within 4 weeks. I was blown away with the professionalism and result.
I recommend anyone to use MTS Property as their agent as they were wonderful to deal with from start to finish.

Seamus Quinlan

5.0
2018-10-26T10:42:54+00:00

Seamus Quinlan

I would like to thank you all sincerely at MTS Property for an excellent service from start to finish. The service I received from one of the larger agents was very poor and we had NO offers for 6 months. The first time I met Louise, she assured me that she could sell the house - moreover Louise’s advice was not even to drop the price but to improve the gardens and the interior. The house was sale agreed within 4 weeks. I was blown away with the professionalism and result. I recommend anyone to use MTS Property as their agent as they were wonderful to deal with from start to finish.
Hi Louise, quick note to thank you for your kind and professional attention in letting my property in Dundrum, I would have no problem in recommending your Residential Letting Service. Top class!!

Trevor Whelan

5.0
2018-10-26T10:43:12+00:00

Trevor Whelan

Hi Louise, quick note to thank you for your kind and professional attention in letting my property in Dundrum, I would have no problem in recommending your Residential Letting Service. Top class!!
Just sold my property through MTS Property, efficient service from start to finish, 12 week process. Highly recommend MTS Property if you are looking to sell your property, very experienced and knowledgeable Estate Agents

Tom Lynch

5.0
2018-10-26T10:43:34+00:00

Tom Lynch

Just sold my property through MTS Property, efficient service from start to finish, 12 week process. Highly recommend MTS Property if you are looking to sell your property, very experienced and knowledgeable Estate Agents
MTS Property, the local Dublin 6 Letting Agent have rented out my properties in Rathgar for the past 8 years, they source excellent tenants and I never have a property vacant, would highly recommend MTS Property to any landlord. They offer Property Sales and Property Valuations too.

Mary McMahon

5.0
2018-10-26T10:43:50+00:00

Mary McMahon

MTS Property, the local Dublin 6 Letting Agent have rented out my properties in Rathgar for the past 8 years, they source excellent tenants and I never have a property vacant, would highly recommend MTS Property to any landlord. They offer Property Sales and Property Valuations too.
Was in contact with MTS Property to rent out my property in Harolds Cross, They go the extra mile with service throughout the letting process, kept me constantly up to date and their after service management service is highly recommended for peace of mind for me the landlord. Will contact again should I ever need to rent or sell my property

Edmond Ryan

5.0
2018-10-26T10:44:09+00:00

Edmond Ryan

Was in contact with MTS Property to rent out my property in Harolds Cross, They go the extra mile with service throughout the letting process, kept me constantly up to date and their after service management service is highly recommended for peace of mind for me the landlord. Will contact again should I ever need to rent or sell my property
MTS Property have been acting as my Estate Agent for the past 10 years now and I would highly recommend them to anyone looking to rent , manage or sell their properties. They know their business!!

John Byrne

5.0
2018-10-26T10:44:37+00:00

John Byrne

MTS Property have been acting as my Estate Agent for the past 10 years now and I would highly recommend them to anyone looking to rent , manage or sell their properties. They know their business!!
I would like to thank you all sincerely at MTS Property for an excellent service from start to finish. MTS Property sold my property within a matter of weeks, the whole sales process was handled very efficiently. A special mention to Louise, her constant support was very much appreciated. I would recommend anyone to use MTS Property as their agent as they were wonderful to deal with from start to finish.

Alison O’Hagan

5.0
2018-10-26T10:44:56+00:00

Alison O’Hagan

I would like to thank you all sincerely at MTS Property for an excellent service from start to finish. MTS Property sold my property within a matter of weeks, the whole sales process was handled very efficiently. A special mention to Louise, her constant support was very much appreciated. I would recommend anyone to use MTS Property as their agent as they were wonderful to deal with from start to finish.
I have been dealing with MTS Estate Agents for as long as I can remember. Since the beginning, they have been extremely efficient in all their dealings with me. MTS Property over the years have given me excellent property advice, they have rented several properties and sold properties, exceeding the asking price.
I would highly recommend MTS Property to anybody wishing to sell or rent their property.

Jim Smith

5.0
2018-10-26T10:45:13+00:00

Jim Smith

I have been dealing with MTS Estate Agents for as long as I can remember. Since the beginning, they have been extremely efficient in all their dealings with me. MTS Property over the years have given me excellent property advice, they have rented several properties and sold properties, exceeding the asking price. I would highly recommend MTS Property to anybody wishing to sell or rent their property.
I would like to say a huge thank you to Louise and her team at MTS Property for all their help and support with the renting of my property. The service provided was impeccable. This is the third time I have used MTS Property as my letting agent and on both occasions I have been extremely happy with the speed, efficiency, knowledge and professionalism of the letting. I have used other letting agents but none have measured up to Louise and the team at MTS Property. I would recommend all landlords/tenants to avail – thank you once again.

Peter Flynn

5.0
2018-10-26T10:45:34+00:00

Peter Flynn

I would like to say a huge thank you to Louise and her team at MTS Property for all their help and support with the renting of my property. The service provided was impeccable. This is the third time I have used MTS Property as my letting agent and on both occasions I have been extremely happy with the speed, efficiency, knowledge and professionalism of the letting. I have used other letting agents but none have measured up to Louise and the team at MTS Property. I would recommend all landlords/tenants to avail – thank you once again.
Highly recommend MTS Property to rent your property. I recently had two vacant properties and Louise from MTS Property secured two excellent tenants within a few days. Hassle free. Kept me updated throughout the whole rental process, very efficient.

James Smith

5.0
2018-10-26T10:45:51+00:00

James Smith

Highly recommend MTS Property to rent your property. I recently had two vacant properties and Louise from MTS Property secured two excellent tenants within a few days. Hassle free. Kept me updated throughout the whole rental process, very efficient.
Hiring an estate agent, look no further than MTS Property. Just sold my property with MTS Property and happy to say, delighted with their very professional service. They know the market and presented and sold my property within a very short timeframe. Achieved in excess of the asking price, so I am a very happy customer. Definitely would hire MTS Property in the future.

Bernie Maguire

5.0
2018-10-26T10:46:08+00:00

Bernie Maguire

Hiring an estate agent, look no further than MTS Property. Just sold my property with MTS Property and happy to say, delighted with their very professional service. They know the market and presented and sold my property within a very short timeframe. Achieved in excess of the asking price, so I am a very happy customer. Definitely would hire MTS Property in the future.
I just want to say a big thank you to Louise and her team for their highly professional services. Their knowledge and their personalised approach inspired confidence and eliminated a lot of the stress that goes along with selling your home. There is no doubt that MTS Property are the most professional Estate Agents I have ever dealt with.

Joe Smith

5.0
2018-10-26T10:46:25+00:00

Joe Smith

I just want to say a big thank you to Louise and her team for their highly professional services. Their knowledge and their personalised approach inspired confidence and eliminated a lot of the stress that goes along with selling your home. There is no doubt that MTS Property are the most professional Estate Agents I have ever dealt with.
Their service was excellent and I would highly recommend them. Louise had a very good knowledge of the local market and is passionate about her job. I found them to be honest and reliable compared to other estate agents that I have experienced and used in the past and I would highly recommend MTS Property.

Anne Moore

5.0
2018-10-26T10:46:43+00:00

Anne Moore

Their service was excellent and I would highly recommend them. Louise had a very good knowledge of the local market and is passionate about her job. I found them to be honest and reliable compared to other estate agents that I have experienced and used in the past and I would highly recommend MTS Property.
We were very happy with the service from MTS Property, Louise and her team are highly professional and Louise always reported back after viewings. She really couldn’t have done any more for us. Got our property rented for us and we are very happy with the outcome, would recommend MTS to friends and family.

Michael & Mary Ellis

5.0
2018-10-26T10:46:58+00:00

Michael & Mary Ellis

We were very happy with the service from MTS Property, Louise and her team are highly professional and Louise always reported back after viewings. She really couldn’t have done any more for us. Got our property rented for us and we are very happy with the outcome, would recommend MTS to friends and family.
Delighted to recommend MTS Property, who have just sold our property in Terenure, D6w. We had been looking to downsize and MTS Property looked after us so well. Their wealth of knowledge of the market was invaluable to us and it was a very smooth process from start to finish. Would highly recommend MTS Property should you be looking to sell your property

Mary Lynch

5.0
2018-10-26T10:47:16+00:00

Mary Lynch

Delighted to recommend MTS Property, who have just sold our property in Terenure, D6w. We had been looking to downsize and MTS Property looked after us so well. Their wealth of knowledge of the market was invaluable to us and it was a very smooth process from start to finish. Would highly recommend MTS Property should you be looking to sell your property
Would highly recommend MTS Property who have just rented our properties in Churchtown, Dublin 14. Secured excellent tenants and achieved top rents, their professionalism and knowledge of the rental market was invaluable to us. Excellent service, Louise from MTS Property knows the business

Jim Barry

5.0
2018-10-26T10:47:31+00:00

Jim Barry

Would highly recommend MTS Property who have just rented our properties in Churchtown, Dublin 14. Secured excellent tenants and achieved top rents, their professionalism and knowledge of the rental market was invaluable to us. Excellent service, Louise from MTS Property knows the business
Many thanks MTS Property for a very professional service. Would highly recommend MTS Property. Rented my property in Rathgar, secured excellent tenants and market rent. Thanks again!

Jim Byrne, Rathgar, Dublin 6

5.0
2018-10-26T10:47:58+00:00

Jim Byrne, Rathgar, Dublin 6

Many thanks MTS Property for a very professional service. Would highly recommend MTS Property. Rented my property in Rathgar, secured excellent tenants and market rent. Thanks again!
Many thanks MTS Property for recently renting my property in Churchtown, Dublin 14. A very professional service as always from MTS Property. Hassle free and at very reasonable rates. Thanks Louise

Mary Stafford

5.0
2018-10-26T10:48:17+00:00

Mary Stafford

Many thanks MTS Property for recently renting my property in Churchtown, Dublin 14. A very professional service as always from MTS Property. Hassle free and at very reasonable rates. Thanks Louise
Top class estate agents, would highly recommend MTS Property for renting property. Have worked with MTS Property for the past 10 years and always very professional and diligent with their service. Thanks again MTS Property

Seamus Breen

5.0
2018-10-26T10:48:36+00:00

Seamus Breen

Top class estate agents, would highly recommend MTS Property for renting property. Have worked with MTS Property for the past 10 years and always very professional and diligent with their service. Thanks again MTS Property
Delighted to have engaged MTS Property to rent out my property in Rathgar recently. Quick turnaround when ready for letting, excellent rent achieved. Very happy with the service received from Louise and her team. All the best

Tony O’Connor

2018-10-26T10:51:31+00:00

Tony O’Connor

Delighted to have engaged MTS Property to rent out my property in Rathgar recently. Quick turnaround when ready for letting, excellent rent achieved. Very happy with the service received from Louise and her team. All the best
A big thank you to MTS Property, had a property in Dublin 2 for rent, I will definitely recommend you to my friends and family. Thanks again!

Paul Connell

5.0
2018-10-26T10:51:50+00:00

Paul Connell

A big thank you to MTS Property, had a property in Dublin 2 for rent, I will definitely recommend you to my friends and family. Thanks again!
I would like to thank MTS for their prompt service in letting my property out in Dublin 6. They also manage it to a high standard. Louise has great knowledge of the market, She has a great team behind her from the girls in the office to the service providers. They work very efficiently and fast together, the quick turnaround period was amazing. Denise (Maintenance) and Elodie(rents) are very helpful and have been on hand promptly to answer any queries. I would recommend MTS to anyone who doesn’t want the stress of day to day issues in the rental market. A real professional service.

Michael Lynn

5.0
2018-10-26T10:52:07+00:00

Michael Lynn

I would like to thank MTS for their prompt service in letting my property out in Dublin 6. They also manage it to a high standard. Louise has great knowledge of the market, She has a great team behind her from the girls in the office to the service providers. They work very efficiently and fast together, the quick turnaround period was amazing. Denise (Maintenance) and Elodie(rents) are very helpful and have been on hand promptly to answer any queries. I would recommend MTS to anyone who doesn’t want the stress of day to day issues in the rental market. A real professional service.
A big thank you to the team at MTS Property who recently rented out my property in Dublin 2. Hassle free and got the job done in no time. Would highly recommend MTS Property.

Michael McCurtain

5.0
2018-10-26T10:52:32+00:00

Michael McCurtain

A big thank you to the team at MTS Property who recently rented out my property in Dublin 2. Hassle free and got the job done in no time. Would highly recommend MTS Property.
I would highly recommend MTS Property in Rathgar. Highly efficient estate agency, great customer service received. Many thanks MTS Property for renting out my property recently. I was very happy with the service provided.

Joan O'Toole

5.0
2018-10-26T10:52:52+00:00

Joan O'Toole

I would highly recommend MTS Property in Rathgar. Highly efficient estate agency, great customer service received. Many thanks MTS Property for renting out my property recently. I was very happy with the service provided.
Their service was excellent and I would highly recommend MTS Property. Louise has an excellent knowledge of the local market and is passionate about her job. I found MTS Property to be honest and reliable and are well worth availing of their service.

Brian Mulligan

5.0
2018-10-26T10:53:13+00:00

Brian Mulligan

Their service was excellent and I would highly recommend MTS Property. Louise has an excellent knowledge of the local market and is passionate about her job. I found MTS Property to be honest and reliable and are well worth availing of their service.
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