The annual cost of running a home in Ireland has gone up again
This is according to a new survey by AA Home Insurance.
Earlier this week, AA Home Insurance released its annual report on the cost of running a home in Ireland.
Last year, for the first time in four years, the cost of owning and maintaining a family home went down. However, that trend hasn’t continued, and the new survey shows it has now risen to €16,611.14 per year.
What’s included in the cost of running a home in Ireland?
The AA’s survey includes expenses like:
- property tax;
- TV licence;
- home insurance;
- telephone and broadband bills;
- and electricity and heating costs.
Why has the cost of running a home gone up?
The main reason for the increase this year comes down to the rise in the national average price of a second-hand home in Ireland, which results in higher mortgage payments.
AA says that those who took out a 90 percent mortgage this year are likely to pay €9,847.48 a year on their mortgage – an increase of 4.57% on last year.
Prices also rose for items like home insurance, broadband and bin charges.
Is there any good news?
In short, yes, as there have been reductions in the cost of some essential household bills.
The AA estimates that the average homeowner will spend €974.86 heating their home this year, down €14, and a further €1,082.48 on electricity, down €34.
Digital TV costs are also down, with standard plans down €49, according to AA Home Insurance.
What can I do to combat the rising costs?
Well, although energy costs fell this year, there are still huge savings that can be made by switching suppliers.
At the moment, the average dual fuel customer could save up to €342 by switching from standard tariffs to the cheapest deals on the market.
You can compare energy deals and make a switch quickly and easily with our free comparison tool.
On top of this, you could also save by switching your broadband, phone and TV provider. Often, bundling services can result in a saving, and there are some great deals out there at the moment on triple-play plans, for example:
- eir’s Vision TV Essential & Broadband + eir Sport, is available for €30 per month for the first six months, and €85 per month after that. And, if you sign up between now and Monday 28 November, you’ll also get €100 cashback!
- Sky’s Original TV Bundle + Sky Fibre Unlimited & Talk Freetime plan is reduced to €30 per month for the first 5 months when you sign up by 1 December exclusively on Switcher.ie. The cost after this is €84.50 per month.
- Virgin Media’s 240Mb Anytime World and Horizon TV plan is down to €30 per month for 6 months. It normally costs €80 per month, so that represents a saving of €300 in the year. And, if you sign up between now and 11 December, you’ll also get a €50 Virgin Media One4All gift card!
So, although prices have gone up in some areas, some savvy shopping can really help you to manage costs!