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Dublin Homes For Sale - Buying Dublin Homes for Sale

An Outsider's Guide

irish buyers income real

Ireland’s capital of Dublin in Fingal County is a popular destination for immigration as well as tourism. The following guide will prime the potential Irish homebuyer with basic considerations in securing a Dublin home for sale. Rather than providing a full analysis of Dublin’s current and projected real estate market, this article addresses the peculiarities of Irish home buying and how they differ from the perspective of an American or other non-native.

Dublins homes are brokered by “auctioneers,” the Irish version of an American real estate agent. Their title is representative of the difference between these two countries’ real estate laws: auctioneers entertain multiple bids on any given property. In this way, prices can grow from initial listings in a way that they do not in the United States. In searching for Dublin homes for sale, potential buyers should cast a wide net and be prepared to withdraw from a purchase if the price grows beyond what was originally expected.

Flooding is a major issue in Ireland. Buyers should cross-reference their potential home’s location with the floodmaps at the Ireland Office of Public Works, as auctioneers are not required to share this information with their buyers. If a deal looks like it is too good to be true, then nearby floodplains are one possible reason for a lower price.

Particularly among older houses, some Dublin homes are falling apart. This is not to say that Irish homes are universally shoddy, but some lemons have been sold to both local and foreign buyers. While sifting through possible Dublin homes for sale, homeseekers can look to building surveyors to assess the merits of a secondhand home. These inspections are not cheap; however, an assessment of a 2-3 BR home costs roughly $377 as of August 2010 (Peter Carey). Prior to closing the deal, a survey is usually required by a mortgage provider as well.

Other costs involved with purchasing a Dublin home for sale include mortgage deposits, generally 10% for most lenders. The Fingal County Local Authority provides a federal low-income alternative with a 5% down payment, provided that the purchaser is a first time buyer with a single gross income no greater than €50,000 (USD 65,290) or a shared gross income no greater than €75,000 ($97,935). These deals are not often available to foreign buyers, but those attaining citizenship through marriage may qualify.

A more thorough guide to Dublin homes for sale can be had at Move to Ireland dot Com. For $45, this website provides an up-to-date list of fees, pitfalls, and housing market considerations as well as other information about Irish economics from an outsider’s perspective. Author/educator Scott Simons (a resident since 1992) translates American consumer rights concerns to the Irish housing market from this portal, and his site contains some free resources as well.

Peter Carey
Dublin Building Surveyor
18 Old Kilmainham
Dublin 8
Phone: 01 491-3681 / 087 252-6451
Fax: 01 458-2278
phmcarey@iol.ie
Website

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