Updated: Jan 6
In Ireland, we're lucky that there is A LOT of information you can find out online about a property. However, you need to know where to find that information and some of it is pretty obscure.
At HomeHunterReport.ie we find all of that information for you and send you one report with everything you need to know!
But if you are not ready for a Home Hunter Report just yet, here are 3 websites that you need to know when researching a home to buy!
Buying a home is the most expensive purchase most people will every make. So you need to make sure you are getting value for money and not overpaying what the property is worth.
To highlight how important this is. If you pay €330k for a property which you could have got for €320k, that €10k might not seem like much. But over the course of a 30 year mortgage, that €10k will cost you about €12k in interest, so you'll be repaying €22k. To earn enough gross to pay back that amount after you pay PAYE, PRSI and USC, you'll need to earn over €40k. So you can see how much of an impact overpaying for a property can have on your life.
Thankfully, since 2010 all residential properties sold in Ireland must be recorded on the Property Price Register.
This means you can look at a town, or estate, enter in a time period and you can see all properties sold and what they sold for. In most cases, you'll be able to find a property similar to one you are interested in and compare the sale price of that property with the asking price of the property for sale.
You just go to PropertyPriceRegister.ie click on "Search" and enter in the street name or estate and county. If you want you can filter by year or month. Then click Search!
You'll then see a list of any results. If you don't get any results, try tweaking your search in case you misspelled the address or in case there were no sale during your selected date.
The register does not give any specific details on the property size/bedrooms etc. However an trick you can use is to Google the address of any recently sold properties and you'll likely find an old estate agent listing with all the details.
You can then compare the sale price of the similar properties to the property for sale and make a decision on how much you feel it is worth.
No matter what you do for a living, whether you work from home, or even if you just binge Netflix at the weekend, a fast broadband connection is vital. In Ireland we have made huge strides in rolling out fast broadband across the country, but unfortunately there are still hundreds of thousands of properties which do not have access to fast broadband.
Before you commit to buying, you want to make sure that the property will have sufficient broadband. Bonkers.ie is the fastest and easiest way to check this!
Just go to Bonkers.ie, click "Broadband" and then "Compare Broadband". You can then enter in the Eircode of the property and you will get a list of all providers, plans, and speeds!
3: Local Property Tax Calculator
When Local Property Tax was introduced in Ireland it caused a massive stir. But agree with it or not, Local Property Tax is here and theres no way to avoid it (they'll deduct it from your tax credits if they need to!).
The higher the value of the property, the more you'll be paying for Local Property Tax. For example, a property based in South Dublin County Council valued at €550k will cost 497 per year in tax. That is about an extra €10 every single week on top of your other bills.
Having a good idea of the cost to own and run your new home is vital, but thankfully checking the Local Property Tax rate you'll be paying is very straightforward!
Go to the Revenue Local Property Tax Calculator here --> https://lpt.revenue.ie/lpt-web/reckoner/lpt.html
Then simple select the local authority the property is in and the band for the asking price. This will then show you the LPT rates for 2023, including the increase/decrease of up to 15% for that local authority.
4: SURPRISE! HomeHunterReport.ie
Of course, you don't need to spend the time searching on lots of different websites to research a property. In just a few minutes, Home Hunter Report will send you a report with information from over 15 different sources and tell you everything you need to know about the property and location.
It saves you up to 10 hours of research and finds information on the property you did not know even existed!
It helps you to buy with confidence and know that the property is right for you and your family.
Just go to HomeHunterReport.ie and enter the Eircode to get started.