Homebuyers in Louth could save tens of thousands of euros when buying and upgrading older properties, according to new research from Switcher.ie.
The analysis shows that buyers who combine grants, better mortgage rates and lower cost finance could unlock significant savings, particularly when improving the energy efficiency of second hand homes.
In a typical case, savings of €37,413 are possible, rising to as much as €87,413 when supports like the Vacant Property Grant are included.
Louth was also named the fifth cheapest county in Ireland to heat a home, with estimated annual energy costs of €3,279. That is €882 less than Leitrim, which was found to be the most expensive.
The research highlights how energy efficiency and smart financial choices can make a big difference to the overall cost of homeownership.
Here are four key ways buyers can reduce costs:
• SEAI grants
Grants for upgrades such as insulation, windows, doors and heat pumps can significantly cut the cost of improving a home.
Potential saving: €20,600
• Green mortgages
Lower interest rates for energy efficient homes can reduce monthly repayments and overall costs.
Potential saving: €10,113 over three years
• Home energy upgrade loans
Choosing lower rate retrofit loans instead of standard personal loans can reduce interest payments.
Potential saving: €6,700
• Vacant Property Grant
Buyers taking on vacant or derelict homes can access funding to support renovation works.
Potential saving: up to €50,000
The study also points to a gap of more than €1,300 a year in energy costs between the cheapest and most expensive counties, underlining the importance of energy upgrades.
Eoin Clarke, Commercial Director of Switcher.ie, said: “Many buyers are now turning to older or second-hand homes as a more affordable way onto the property ladder, but what often gets overlooked is the true cost of upgrading and running these properties over time.
Our analysis shows that energy efficiency plays a much bigger role in household costs than people might expect, with less efficient homes costing over €1,300 more a year to heat depending on location. That’s a significant and ongoing expense, particularly at a time when energy prices remain volatile.
The encouraging part is that there are multiple ways for buyers to take control of these costs from the outset. By combining SEAI grants, choosing a competitive mortgage rate and opting for lower-cost retrofit finance, homeowners can make substantial savings, both upfront and in the years that follow.
What this really highlights is the value of planning ahead. Buyers who take the time to understand what supports are available, and how different financial decisions impact long-term costs, are in a much stronger position to maximise value when purchasing and upgrading a home.
Simple steps like shopping around for a mortgage, making use of available grants, and choosing the right type of loan can make a meaningful difference; not just to the cost of upgrading a property, but to the overall cost of homeownership.”
