Cost of owning and maintaining a home jumps to €17,000 - not including food

Cost of owning and maintaining a home jumps to €17,000 - not including food

The cost of running a home in Ireland has increased by €1,000.

A new AA Ireland 'Cost of Running a Home' analysis released today shows the cost of owning and maintaining a home has gone up to around €17,000 this year, compared to 2018.

The figures do not include food, transport and other expenses.

The AA's AA’s director of consumer affairs Conor Faughnan says the jump is due to a rise in mortgage repayments and house prices, when the third quarter of 2018 and this year are compared.

The AA report calculates that those who took out a 90% mortgage this year are likely to pay €11,021.04 per annum in mortgage repayments, which is up 9.45% on last year.

"The single biggest driver of it is the mortgage payments. For an individual who bought this year, they're looking at at baseline price for a house of €269,000, compared to €243,000," Conor Faughnan said.

"It is that increase of €26,000 in house prices in the last year that has driven the rise in this AA index."


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