Stop buying coffee to afford to buy a house? Here's how long it would take in Ireland

A lot of young people in Ireland have been told by older generations to stop buying fancy coffees if they want to buy a house in Ireland.

Sounds simple, but experts have found just how long it would take to save for a deposit for a house if you gave up buying coffee.

If you wanted to buy a house in Dublin, it could take as long as 41 years of giving up that daily flat white!

Chill Insurance analysed how many cups of coffee people would need to give up to afford a house deposit.

With Dublin at the top of the list with 41 years of skipping a daily coffee, the list shows little hope for younger people using this tip to buy a home of their own.

The list continues as follows:

• Wicklow- 34 years and 5 months
• Kildare- 28 years and 7 months
• Meath- 26 years and 3 months
• Cork- 24 years and 9 months
• Galway- 25 years and 6 months
• Kilkenny- 24 years and 7 months
• Louth- 23 years and 6 months
• Limerick- 22 years and 6 months
• Wexford- 22 years and 10 months

According to the data, Dublin is the least affordable city for homebuyers in Ireland, with an average house deposit of €61,401.23.

It also has the priciest coffee, averaging €4.08 per cup. Giving up your daily coffee for a year would save you €1,489.20, meaning it would take more than 15,000 cups - or around 41 years - to save enough for a house deposit.

While skipping a simple habit, like buying a daily coffee, can be helpful towards saving, it’s clear it’s not enough to close the affordability gap.

To help, Ian O’Reilly from Chill Insurance shares his tips for saving for a deposit:

“Saving for a deposit can feel daunting, especially when facing the prospect of spending up to eight years accumulating funds.

While skipping your morning latte or avocado toast won’t singlehandedly get you onto the property ladder, smarter saving habits can make a big difference.

Experts recommend following the 50/30/20 rule: allocate 50% of your income to necessities, 30% to personal wants, and 20% to savings. This approach is 7% higher than the national average savings rate, giving you a crucial reduction in the time it will take to accumulate your deposit.”

“Consulting a mortgage advisor is another valuable step. They can help you understand what you can afford and potentially secure better mortgage deals, saving you money in the long run.

“Additionally, government help-to-buy schemes, especially for first-time buyers, can significantly reduce the financial burden and bring homeownership within reach.

“Finally, when you’re ready to finalise your purchase and transfer your deposit, don’t forget to purchase home insurance. Many banks require proof of home insurance before they will release mortgage funds, so having this in place is essential to ensure a smooth buying process.”

County Leitrim, Ireland’s least populated county, takes the title of the most affordable place to buy a home, according to Chill Insurance.

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In 2024, the average home in Leitrim sold for €186,487, requiring a minimum deposit of €18,649 - a figure significantly below the national average of €29,108.

This affordability makes Leitrim an attractive option for those with a smaller budget - including first-time buyers. Towns like Carrick-on-Shannon provide a perfect blend of modern amenities and countryside tranquility, further enhancing this county’s appeal.

Despite average income in County Leitrim being slightly below the national average, sitting at €38,829 per year, saving for a home here is still relatively achievable.

Prospective buyers, saving at the national average rate of 12.7% of their income (approximately €5,000 annually), could accumulate the necessary deposit in 3 years and 9 months. This not only makes Leitrim the most affordable but also the most accessible destination for homeownership.