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Tag Archives: house deposit

Moving home to save for house deposit

Just over a quarter of 25 to 34 -year-olds are moving back to live with their parents in order to save money for a deposit on a house. This is among the findings of the latest survey carried out on behalf of Aviva Home Insurance. The survey also found that over two-thirds (69%) agreed that the expectation among Irish people of owning their own home is unrealistic. The vast majority (72%) cited the need for security as the main driver for their wish to own their own home, while 43% said they wanted to be able to bequeath a property to their children. Just over a third (36%) said they felt pressurised by family and friends to own a substantial asset. Even though the 20% mortgage deposit requirement recently introduced by the Central Bank has made it more difficult for first time buyers to get on the property ladder, almost half of those surveyed (49%) think it is a necessary …

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