When buying a home, there are several costs to consider in addition to the purchase price. It’s crucial to factor in all of these costs when determining your budget for purchasing your home. Additionally, you may want to consider ongoing maintenance and repair costs, as well as any potential renovations or upgrades you may want to make. It is important to budget accordingly and seek professional advice to ensure you are aware of all the potential costs involved.
Additional Costs to Consider
During the home buying process, you should be mindful of the following costs and approximate amounts:
- Stamp duty (1%-2% of the price of the house)
- Legal fees (€2,500 – €5,000 including conveyancing)
- Survey costs (€200)
- Engineers report (€450)
- Moving costs
- Repairs, decoration, furniture
- Ongoing Running Costs of a Home
After you’ve moved into your new home, it’s important to consider the following ongoing costs:
- Electricity and heating (BER rating will have a significant impact on this)
- Home insurance
- Maintenance and repairs
- TV
- Broadband
- Property tax
- Bin charges
- TV licence
- Management fees (if you buy an apartment or house in a managed complex)
Working with Ezfees Financial for Expert Guidance
It’s always a good idea to work with a trusted financial advisor to help navigate the home buying process and ensure you have a clear understanding of all the costs involved. At Ezfees Financial, we understand that buying your home and getting mortgage-ready can be daunting and overwhelming. That’s why we are here to help and be with you every step of the way. Contact us today at 0818910800 or email us at info@ezfeesfinancial.ie. We would be delighted to assist you!
Conclusion
By understanding the hidden costs of buying a home in Ireland and working with a trusted financial advisor, you can make informed decisions and properly budget for your new home. Ezfees Financial is here to provide expert guidance.
