How Much Can You
Actually Afford?

How Much House Can You Afford in Ireland?

The single biggest factor in what you can buy is the Central Bank's loan-to-income limit. Since January 2023, all borrowers can borrow up to 4 times gross annual income — so a couple earning €90,000 combined can borrow up to €360,000. Add a 10% deposit of €40,000 and you're looking at a property price of €400,000. That sounds straightforward, but the real number is usually lower.

The Deposit Rules

First-time buyers and second-time buyers both need a minimum 10% deposit under Central Bank rules. For a €400,000 home, that's €40,000 in cash. The Help to Buy scheme can return up to €30,000 in income tax paid over the previous four years, which counts towards your deposit on a new build. The First Home Scheme can cover up to 30% of the price through a government equity share — meaning your actual cash deposit could be far less than you think.

What This Calculator Doesn't Show

Maximum borrowing isn't the same as maximum spending. On top of the purchase price, you'll pay stamp duty (1% up to €1m), solicitor fees (€2,500–€4,000), valuation and survey fees (€150–€500), and moving costs. On a €400,000 purchase, these extras can add €10,000–€15,000. Budget for the real total, not just the headline figure.

Stress Testing Your Budget

Lenders already stress test you at 2% above the offered rate before approving your mortgage. But you should do your own check too — if rates rise from 3.5% to 5.5%, your monthly repayment on €360,000 over 30 years jumps from around €1,616 to €2,044. That's an extra €428 per month. If that would put you under pressure, consider borrowing less than your maximum.

Related tools: Total Cost of Buying · Help to Buy Calculator · Mortgage Comparison