Buying
New build or second-hand: how the numbers change
The same budget goes further on some homes than on others, and new builds and second-hand homes differ in more than age. Here is how the numbers and the timeline change.
Side by side
| Topic | New build | Second-hand |
|---|---|---|
| Help to Buy | Up to €30,000 or 10% of the price | Not available |
| First Home Scheme | Available below the local price ceiling | Not available |
| Stamp duty | 1% of the price without VAT | 1% of the price |
| Energy rating | Usually A-rated | Anything from A to G |
| Green mortgage rate | Usually available | Only with a BER of B3 or better |
| Timeline | Can take months, until the home is finished | Often 3-4 months from Sale Agreed |
| Checks before closing | A snag list | A structural survey |
The case for a new build
- Help to Buy and the First Home Scheme can close a deposit gap that would take years to save.
- Lower energy bills and access to a green mortgage rate.
- A structural guarantee for 10 years, usually from HomeBond or Premier Guarantee.
- Less maintenance in the first years.
The case for a second-hand home
- More choice of location, including established areas close to work and schools.
- Larger gardens and rooms for the price in many areas.
- A shorter wait: you can often move in within months.
- Room to add value by upgrading, with SEAI grants for insulation and heating.
The trade-off is condition. Budget for a survey, and for the work that the BER and the survey point to.
Questions for a developer
- When is completion expected, and what happens if it is late?
- Is the developer registered for Help to Buy?
- Which structural guarantee comes with the home?
- What is included: flooring, wardrobes, appliances, landscaping?
- For an apartment or a managed estate, what will the management fee be?
Try both options in the calculator, which shows how Help to Buy and stamp duty change the numbers, and save the one you choose to My journey.
Worth knowing
The booking deposit on a new home is refundable until contracts are signed. Get the terms in writing before you pay.
