First-Time Buyer Tax Essentials: Part 1 - An Introduction

Buying your first home is a milestone — exciting, emotional, and, at times, overwhelming. Amid mortgage applications, bidding wars, and viewings, it’s easy to overlook one crucial piece of the puzzle: tax.

At Irish Tax Hub, we often see how the tax side of buying property gets overlooked until the last minute. This can lead to missed reliefs, unexpected costs, and confusion around ongoing obligations. That’s why we’re launching this new blog series: “First-Time Buyer Tax Essentials” — your go-to guide for understanding the taxation of buying your first property in Ireland.

What This Series Will Cover

This is the first post in a multi-part series designed specifically for first-time buyers. Whether you're closing in on your dream home or just starting your search, understanding the tax implications is key to making informed decisions. Here’s a look at what we’ll be covering in the weeks ahead:

1. Taxes on the Purchase of Property

We’ll begin by explaining the taxes involved in buying your home, such as:

• Stamp Duty: how much you’ll pay and when
• VAT implications (if buying a new build)
• What counts as a “first-time buyer” from a tax perspective

2. Tax Reliefs & Schemes You Can Claim

First-time buyers may be eligible for valuable reliefs and government-backed supports. We’ll walk through:

• The Help to Buy (HTB) Scheme
• First Home Scheme
• Local Authority Affordable Purchase Scheme
• Potential income tax refunds
• Reliefs available on mortgage interest and rent (in specific cases)

3. Ongoing Annual Tax Obligations

Once the keys are in your hand, your tax responsibilities continue. We’ll cover:

• Local Property Tax (LPT) and how it’s calculated
• Income tax obligations if you rent a room or part of the property
• What to keep in mind if you decide to sell in the future (Capital Gains Tax considerations)

Who Should Read This Series?

This series is ideal for:

• First-time buyers looking to understand what tax applies and when
• Homeowners-to-be who want to plan ahead
• Anyone aiming to avoid unexpected tax bills — and maximise the reliefs available to them
• Even if you’re working with a solicitor, mortgage broker, or advisor, understanding the basics of property tax will help you make more confident decisions

Up Next

In the next post, we’ll start with the most immediate cost: the taxes on the purchase of property. We’ll explain how they are calculated, what exemptions may apply, and what you should budget for in advance.

Feel free to contact us if you have any questions!