An ex-pats guide to moving home to Ireland

2018 was a special year, because it marked the first time in a decade that more Irish returned home to their families than those that left the country.

They are among the thousands who left the country since the devastating economic recession hit, but for many this year’s trip home will be a permanent one.

But Ireland has changed a lot in the last 10 years, so we at HERO have put together the following for anyone considering moving home in the coming year.

Jobs: The good news is Ireland is almost back to full employment and there is now an array of fantastic opportunities in a range of sectors. Notably, a shortage of certain skillsets has led to great opportunities in engineering, IT, R&D, automation and more. With talent at a premium, attractive financial packages and a high standard of living are on offer. One of our key clients Boston Scientific are offering attractive relocation packages which cover the cost of flights and relocating expenses. Check out these and many more job opportunities on www.hero.ie/bostonscientific

Renting: First thing’s first, you will need a roof over your head. In terms of renting, prices are highest in the cities, while cheaper accommodation can be found on their outskirts and in the commuter belts.

In Galway City, for example, average rent for a two-bed home is €1,026 per month and a four-bed can cost up to €1,321. But outside the city, a two-bed home costs €688 per month and a four bed €886.

A one-bed apartment in Dublin City centre will set you back around €1,500 per month, with the cost of a three-bed apartment coming in at around €2,700. Outside the city’s centre, a one-bed costs €1,300 and a three-bed €2,200. Rent in Cork City is €1,300, while renting in County Cork falls as low as €940 on average.

Buying: If you’ve been putting away some cash while abroad, buying currently makes more financial sense.

The average cost of a three-bed semi-detached home in Ireland at the moment is €229,000. The price in County Galway is €200,000, rising to €288,000 in the city. In County Cork the cost is €224,560, or €273,000 in the city.

Prices in County Dublin vary, from a low of €306,000 in the west of the county to a high of €602,000 in the south. In Dublin City centre you can pick up a home for €337,000, while in the south of the city the cost rises to €412,000.  

First time buyers in Ireland are required to raise 10% of the cost of a home and second time buyers must raise 20%. Currently, mortgage interest rates in Ireland range from 3.17 to 4.5%APR and can be spread over 30 years.

Income and taxation: The money you earn in Ireland is taxed at two rates: the standard rate is 20% and the higher is 40%.

In 2019, a single person will pay 20% on the first €35,300 they earn and 40% is on the remainder. The standard rate increases to 44,300 for married couples or those in a civil partnership.

Schooling: The Irish education system is ranked among the top 20 in the world. The provision of Education in Ireland is free, but there are costs associated with sending your children to school.

It costs on average €600 and €1,200 to send a child to primary and secondary school annually, covering books, uniforms, footwear, supplies, grinds, lunch and extra-curricular activities. For third level, expenses can reach €9,000 annually, but this falls to under €5,000 for those who live at home.

Childcare: Childcare in Ireland is expensive, averaging between €700 and €750 per week in Cork and Galway and a little more than €1,000 in Dublin

There are supports available, however. The Government’s Early Childhood Care and Education Scheme provides a contribution for children of preschool age.

Children can start at 2 years and 8 months and continue until they transfer to primary school, provided they are not older than 5 years and 6 months at the end of the preschool year. In terms of daycare, the State will fund three hours per day five days a week.

Medical care: Children under the age of six enjoy free GP care in Ireland. Talks are taking place to extend that to 12 years, and there is a commitment in Programme for Government to provide free GP care to all under 18s before end of this Dáil term.

Child Benefit: Child Benefit is an monthly payment to parents of children under 16 years of age or up to 18 years if they are in full-time education, training or have a disability and cannot support themselves.

It amounts to €140 per month for each child. For twins, it’s paid at one and a half times the normal monthly rate. For triplets and other multiple births, it’s paid at double the monthly rate for each child.

Buying a car: Today, many people in Ireland are choosing PCP finance when buying a vehicle, which means entering into a contract with the manufacturer.

People pay a deposit on buying a vehicle and commit to monthly payments for the following three years, before making one final payment to take ownership. On a new Passat monthly payments would be around €399. Financial institutions, however, still offer vehicle loans from 9% to 12.5%APR.

Car insurance: Ex-pats are finding it difficult to get insured, largely because any no claims bonus they built up before leaving has expired. Returning Irish have been quoted anything from €2,000 to €4,000 for insurance, while others have been asked to pay much more.

Many insurers will refuse to provide a quote. Some will take into account driving experience while abroad if you can provide evidence of it. Another option is to go as a named driver on a vehicle while you rebuild your driving experience in Ireland.

So, there you have it: everything you need to know and more if you are considering making the move home to Ireland.

Why not contact HERO Recruitment today and learn about the fantastic job opportunities currently available. Contact Galway on (091) 73002, Dublin on (01) 6190279 and Cork on (021) 2066287 or log onto www.hero.ie or email us on [email protected]