There are substantial costs associated with the purchase of a property, which must be borne in mind when calculating the affordability of a purchase and/or the size of mortgage being sought. These additional costs can run to tens of thousands of euro, even for an 'average' priced property, and your prospective mortgage provider will want to know how you intend to cover them.
Illustrative example: non-first time buyers purchasing a home for €400,000

Stamp Duty
This is a tax payable on the transfer of ownership of a property into your name. It is calculated as a percentage of the purchase price of the property, with different rates payable by first time buyers and owner occupiers or investors. Stamp duty is generally the most substantial cost associated with the purchase of a property.
e.g. €400,000 @ 7.5% = €30,000

Legal and Registration Costs
There is no set legal fee for conveyancing (the transfer of ownership of a property), so it can pay to shop around. However, a cost of 1% to 1.5% of the purchase price of the property can be expected. There are also associated third-party fees and administration costs that are generally paid by your solicitor, then reimbursed by you. VAT at 21% is payable on solicitors' fees.
e.g. €400,000 @ 1% + 21% VAT = €4,840
+ land registry fees, searches, outlay: €700

Survey
As well as the standard valuation of the property that you intend to purchase, which will be required by your mortgage provider, it is advisable to engage a surveyor to identify any structural defects in the property, particularly for older buildings.

Your Acumen & Trust advisor will assist you in this process; a structural survey conducted by a qualified surveyor or engineer will cost around €350 + VAT.
e.g.€350 + VAT @ 21% = €424

Mortgage Protection (Life Insurance)
Life insurance, noting the interest of the mortgage provider in the property, must be in place before you will be permitted to drawdown your mortgage. Alternatively called mortgage protection, this is to ensure that the mortgage will be cleared in full in the event of your death.
e.g. €500 p.a.

Buildings Insurance
All mortgage providers will require that you have taken out insurance on the property before allowing you to drawdown the loan. The insurance will cover the reinstatement costs of your home, which will have been estimated by the valuer. 

Contents cover should also be included to replace furnishings, fittings and valuables in case of fire, theft or other damage. Your Acumen & Trust advisor can advise you in this, and arrange insurance on your behalf should you wish.
e.g. €350 p.a.

Fit Out
Once purchased, there may be considerable work to be carried out on your new property, such as flooring, rewiring or other renovation. However, even more minor work such as decorating, together with furnishing or the purchase of applicances and equipment can all mount up. Again, this can be a considerable cost, depending on the condition of the property.
e.g. €10,000

Total potential extra costs for the purchase of a €400,000 property: €46,000+