Buying a home is an exciting time, and while the asking price is just one part of the journey, a little preparation can make the rest feel much more manageable.
Our research shows that Irish homebuyers typically spend an average of €7,696 in additional costs, on top of their deposit and mortgage. It’s also a good time to start thinking about practical essentials like arranging home insurance to protect your new property from the day you get the keys.
These costs add thousands to your budget - and that’s before you invest hours of your life watching RTE’s Room to Improve and thinking of tweaks you may want to make to the house or searching for the best furniture and appliances to invest in, all the things that make your house a home. With this in mind, we’ve created a clear, practical guide to the key costs to consider, where they come from, and how to calculate them - helping you plan with confidence and focus on the excitement of moving into your new home.
- Stamp duty - Most homes sold in Ireland are previously owned. Stamp duty on these properties is calculated at 1% of the purchase value for properties under €1 million. This figure comes from the most recent CSO median house price of €387,000 for a home purchased in the 12 months to December 2025, this sum comes to an average cost of €3,870.
- Solicitor fees - These cover the solicitor’s work in handling contracts, title transfers, and property searches. Most Irish solicitors charge a flat fee in the region of €1,200 to €2,500 plus VAT. This brings the average total to about €1,850 plus vat.
Some solicitors charge a percentage of the property price, often around 1.5%. However, the legal work involved is the same whether the house is inexpensive or high-value, so it’s worth asking for a fixed-fee quote where possible.
- Surveyor’s report - Another step is helping buyers confirm the property’s structural integrity before finalising the purchase. A standard pre-purchase survey or snag list for a new build usually costs around €550.
- Local Property Tax (LPT) - The annual government levy is based on a property’s market value. You can calculate your local property tax on Revenue.ie A home worth €381,000 falls within the €350,001 - €437,500 valuation band, which carries a national base LPT charge of €405 . Most local authorities apply a rate increase of around 15% above the base, bringing the average annual payment to approximately €465.
Home insurance - Once the sale is complete, homeowners must also take out home insurance. This is a requirement from your lender to protect the property against fire, storm, and other damage. The average annual premium for buildings & contents insurance is around €4516, though it can vary based on the profile of the property and the owner, such as location, property type and claims history. - Mortgage protection - Similarly, mortgage protection insurance is mandatory for all mortgage holders, ensuring the loan is cleared in the event of the borrower’s death. The average typical cost of cover is roughly €360 per year, or €30 a month, based on standard joint-life policies.
- Valuation report – Banks also require a valuation report before approving a mortgage, carried out by a registered valuer from the lender’s approved panel. This is one of the smaller line items – AIB typically charges €150.
Where the hidden cost of €7,696 goes
- Stamp duty - €3,870
- Legal fees - €1,850
- Surveyor’s report - €550
- Local Property Tax (LPT) - €465
- Home insurance - €451
- Mortgage protection insurance - €360
- Valuation report - €150
We hope this article has helped shine a light on what you’ll need to budget for when buying a home in Ireland. As you can see, the hidden costs of buying a home can really add up - so it’s always a smart move to plan ahead, budget effectively with the full picture in mind, and make savings where you can.
While no home insurance can prevent the rising costs of purchasing a home, having the right cover can keep your mind at ease after all your hard work to secure your property.
With average building and contents insurance costing around €451 per year, it’s worth taking the time to review your policy and shop around for the best value and level of cover.
Unsure where to start making savings? See how much you could save on your home insurance with OUTsurance. Give us a call on (01) 512 6200 or start a quote right here on our website.
Sources:
- Stamp duty rates Revenue.ie
- All figures represent average median costs for an Irish residential property purchase up to December 2025, according to the Central Statistics Office. Residential Property Price Index October 2025
- Legal & conveyancing fees from Money Guide Ireland
- Surveyor’s report average of figures taken from TPD Solutions & iSurv
- Local Property Tax calculated from Revenue.ie
- Home insurance calculation sourced from OUTsurance's in-house data and based on average buildings & contents premium sold from January 2025 – January 2026, inclusive.
- Mortgage protection average from Switcher.ie
- Valuation report from AIB
The information in this article is for general information and entertainment purposes only. It does not, and is not intended to, provide legal or technical advice. Our website may contain links to third-party websites. We are not responsible for the content, accuracy, or practices of any third-party sites. Always refer to your policy booklet for the full terms of your insurance with OUTsurance.