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Once upon a time in Ireland, you got married and bought your first home in your 20s. By the time you reached your late 50s, the mortgage was paid off, and you could enjoy retirement without money worries. However, the path to owning a home has changed a lot in recent years.
More than 20 years ago, most first-time buyers in Ireland were 30 or younger — about 60%. By 2023, that number dropped to just 20%. This big change shows how much harder it is for younger people to buy a home today. High house prices, the cost of living, and other challenges mean many are now buying their first home later in life.
Are People Buying Homes Later in Life?
Between 2010 and 2021, the median age of homebuyers in Ireland increased from 35 to 39 years.
By Type of Buyer:
- Sole purchaser with children: 43 years
- Sole purchaser without children: 41 years
- Joint purchasers with children: 39 years
- Joint purchasers without children: 36 years
Change from 2010 to 2021:
- Sole purchasers: Median age increased by 7 years (from 34 to 41)
- Joint purchasers: Median age increased by 3 years (from 33 to 36)
Age and Type of Transaction
Between 2010 and 2021, the average age of people buying homes in Ireland went up from 35 to 39. For those getting a mortgage, the average age increased from 33 to 37.
For people buying without a mortgage, the average age went up from 43 to 47. This shows that cash buyers are usually older, probably because they’re using savings or money from selling another home.
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What’s Pushing Buyers to Wait?
More and more people are delaying homeownership due to factors like:
High Property Prices
House prices in Ireland have gone up a lot over the last 20 years. This makes it harder for younger people to afford a home, especially if they’re on one income or just starting their careers. In 2025, the average price of a home was €360,000, which is too high for many first-time buyers. In 2025, the median price of a home reached €360,000.
If soaring house prices have you thinking homeownership is out of reach, you’re not alone. But don’t give up just yet — our article has practical tips to help you budget for your home, even when prices are sky-high.
Later Marriage
In Ireland today, people are getting married later than ever, with the average age nearly 36 for women and 38 for men in 2024.
Between 2014 and 2024, people in Ireland started getting married later. In opposite-sex marriages, the average age of brides went up from 33 to nearly 36, and grooms from 35 to almost 38. Same-sex couples saw a small increase too, with women rising from 39.3 to 39.7 and men from 39.8 to 40.7 between 2019 and 2024. This shows a clear trend — people are waiting longer to get married, and that often means waiting longer to buy a home too.
Starting Families Later
The average age of first-time mothers reached 31.7 years in 2024, up from 30.5 in 2014, and 28.5 back in 2004. That’s an increase of over three years in just two decades. Many couples choose to rent while they focus on careers or save money, only deciding to buy a home when they’re ready to start a family.
Others may wait until after their children are born to look for a larger home that better suits their needs. This shift in timing is another reason why homeownership is happening later in life.
Career Building Comes First
Another key reason people are buying homes later in life is that many are spending their 20s focused on building their careers.
According to the Central Statistics Office’s Growing Up in Ireland study, a large number of 25-year-olds still live with their parents — mostly for financial reasons. In fact, 62.4% said money was the main reason they hadn’t moved out, while only 12.4% said it wasn’t about finances. This trend is closely linked to staying in education longer and needing more time to establish a steady income before making big financial moves like buying a home.
Rising Cost of Living
The rising cost of everyday essentials — like rent, childcare, transport, and food — is making it harder for people to save for a mortgage deposit. With a significant portion of their income going towards monthly expenses, many find it challenging to save money, which delays their ability to buy a home.
If you’re in the same boat, check out our article with Tips for Saving Money Towards Your Mortgage Deposit to help you get started.
Relationship Changes and Separation
More people are buying homes later in life due to relationship changes like divorce or separation. Starting over financially after a breakup can be challenging, especially when it comes to saving for a deposit or qualifying for a mortgage on your own.
However, if you no longer have a share in a property, you may be eligible as a first-time buyer again. Rebuilding after a split isn’t easy, but our guide on Rebuilding Your Finances After Divorce can help you take the next steps with confidence.
Is There an Age Limit for Getting a Mortgage?
There’s no set age limit for getting a mortgage in Ireland, but most lenders want the loan to be paid off by the time you’re between 65 and 70. That means if you apply later in life, your mortgage term will likely be shorter.
It also depends on the lender:
- Some lenders will only give you a mortgage up to age 67 unless you can show you have a pension in place.
- Others might go to age 68 for PAYE workers, even without pension details.
- A few are more flexible and allow mortgages up to age 70 without requiring proof of retirement income.
Each lender has their own rules, so it’s a good idea to compare or get help from one of our financial advisors who knows which options might work best for you.
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Pros of Getting a Mortgage Later in Life
- More financial stability – higher income, better credit history
- Larger deposit – often built up from years of saving or a previous property sale
- Stronger decision-making – clearer on life goals and where you want to live
- Pension-backed repayment options – some can use retirement income to qualify
- Homeownership into retirement – means no rent to pay later in life
- Access to first-time buyer schemes – in certain cases, like post-divorce
The ultimate guide for First-Time Buyers.
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After you download your guide, one of our expert mortgage advisors will be in touch shortly to provide you with guidance and further relevant information including typical repayments, qualification amounts and mortgage requirements.
Cons of Getting a Mortgage Later in Life
- Shorter loan term – due to age limits on when the mortgage must be repaid
- Higher monthly repayments – shorter terms usually mean higher costs
- Stricter affordability checks – especially as you approach retirement
- Higher insurance premiums – age can raise the cost of life insurance or mortgage protection
- Less time to build equity – lower potential gains from future property value
- Possible impact on retirement plans – less flexibility to save or adjust if needed
(Fewer working years left to recover from setbacks like illness or job loss)
What’s the best age to be mortgage-free?
There’s no one-size-fits-all age when you should be mortgage-free — it really depends on your personal finances, goals, and retirement plans. However, we suggest aiming to have your mortgage paid off by the time you retire, typically between the ages of 65 and 70.
Here’s why:
- Fixed or lower income in retirement: Without a regular salary, paying off a mortgage can be more difficult.
- Peace of mind: Being mortgage-free means lower monthly expenses and more financial freedom in retirement.
- Pension protection: It helps preserve your retirement savings for living costs rather than loan repayments.
Some people do choose to keep a mortgage into retirement, especially if it’s small, affordable, and fits into their overall plan. They might be using their money in other smart ways, like investing or running a business. Ideally, it’s best to be mortgage-free by the time you retire, but if your repayments are manageable and you’ve planned well, it’s not a strict rule.
Key Things to Keep in Mind for a Mortgage Later in Life
Your Age Affects the Loan Term: Most lenders want the mortgage paid off by age 65 to 70, so the older you are, the shorter the loan term — and the higher the monthly repayments.
Retirement Income Matters: If you’re near or past retirement age, lenders may ask for proof of pension income or other financial support to make sure you can afford repayments long-term.
Affordability Checks May Be Stricter: Lenders often apply more caution when assessing borrowers later in life. They may look closely at your debts, dependents, and retirement plans.
You May Need a Bigger Deposit: A larger deposit can help you qualify more easily, especially if your income is lower or your term is shorter. It also reduces the loan amount and monthly payments.
Insurance Costs Could Be Higher: Mortgage protection and life cover may be more expensive as you get older. Be sure to factor this into your monthly budget.
Impact on Retirement Planning: A mortgage in your 50s or 60s might limit your ability to contribute to your pension or leave less financial flexibility in retirement.
You Might Qualify as a First-Time Buyer Again: If you’ve separated or sold a previous home and no longer have ownership, you may be eligible for first-time buyer supports like the Help-to-Buy scheme.
Get Professional Advice: A mortgage broker or financial advisor can help you find lenders that work with older buyers and tailor a plan to fit your stage in life.
Read Our Articles
If you’re thinking about stepping onto the property ladder, we’ve put together some must-read articles to help you get prepared. From saving for a deposit to getting a mortgage later in life, these guides are full of practical tips to make your journey smoother.
- Essential Steps for Getting Mortgage Ready
- Can a single person get a mortgage in Ireland?
- Home Sweet Home: The Ultimate First-Time Buyer’s Guide
- Hidden Extra Costs When Buying a House in Ireland
- Tips for Saving Money Towards Your Mortgage Deposit
- 10 First-Time Buyer Mistakes to Avoid in Ireland
- Mortgage Protection Insurance in Ireland: Everything You Need to Know
- How to Budget for a House When Prices Are Through the Roof
Not Sure Where to Start? Let’s Get You a Quick Quote.
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More and more people are buying homes later in life — and doing it successfully. Don’t let old ideas about the “right” age to buy hold you back. With smart planning and the right support, you can still achieve homeownership on your own terms. Start by getting a personalised mortgage quote with LowQuotes and take the first step toward your future home.
Whether you’re already working on your deposit, figuring out monthly repayments, or just want to understand your options, we’re here to help you prepare with confidence. Let’s make sure your finances are ready for this exciting step.
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All our content has been written or overseen by a qualified financial advisor. However, you should always seek individual financial advice for your unique circumstances.
