When you are looking for that ideal location for your first home in Ireland, there are a few things to know before you jump into buying anything as a first time buyer. Here are some simple tips that could save you from making that first home purchase a scam.

Listed below are some things you need to know as a first time buyer:

Tip #1 Check the selling prices to comparable homes in your neighbourhood.

The reason you want to do this is to know what kind of deal you are getting. By knowing the general pricing of your neighbourhood, you will not pay a price that's too high for that market. Likewise, you may also notice that you are getting a good deal on your home.

Tip #2 Use a mortgage calculator to see what your payments will be.

A mortgage calculator will calculate the payments you will have to make on your mortgages. A mortgage calculator is a great tool to help a first time buyer figure out the monthly costs on their mortgages.

Tip #3 Look at the home and see how it will fit into your budget.

If it costs too much, always remember that there are many other Ireland homes that might be a better match for your budget. It's important that you do not go so over budget that you cannot afford to pay the mortgages on your home. You do not want to risk a foreclosure down the road.

Tip #4 Never rush yourself into a home purchase.

Especially if it's your first time buyer, you want to make sure that you have a good experience. There are a lot of things that you need to watch out for with home purchases, and this is why you do not want to not rush the process. For example, if you have any mould growing in your Ireland home, you won't have the luxury of going to your Irish landlord and having them pay for it. Any problems with the home will come directly out of your bank account. Purchasing the wrong home can be a costly mistake you will be afraid to make twice.

Tip #5 When you make an offer on your first home; be prepared to place down a deposit.

These deposits are also known as "Earnest money." Your deposit shows to the agent that you're committed to the purchase of that home. This also makes you do a little bit more thinking before you decide to purchase a house.

Tip #6 Choose your mortgage lender wisely.

There are a lot of different loans on the market. Some are better than others, and will cost you a lot less money. Always look at the interest rates to help you make your decision. A high interest loan can quickly accumulate a lot of debt.

Tip #7 Consider any closing costs into your payment.

These are things that will add up quickly. Closing costs include: settlement fees, taxes, home owners insurance and association fees.

The Republic of Ireland is a beautiful location to own a home, but like all places and owning home you have to be careful what you buy into. Getting into the wrong home, or not knowing the right information, could potentially cost you thousands of euros. So it's important that you do your research.