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21st Nov 2016

This Is The Cost Of Running A Family Home In 2016

Katie Mythen-Lynch

Feeling the pinch at month-end? If so you’re not alone. The cost of running the average Irish family home has risen by 2.5 per cent, and now totals an eye-watering €16,600 per year. 

New figures released by AA Home Insurance show that owning and maintaining a family home, including mortgage payments, electricity or gas, bin charges and property tax, is costing families more than ever because of the rise in property prices.

However, as Conor Faughnan, Director of Consumer Affairs at AA Ireland, told the Irish Examiner, it’s not all bad news:

“In all, we have seen a slight rise in the cost of running a house in Ireland over the last year.

“Mostly that is due to a rise in mortgage costs, associated with the house prices itself going up, but in terms of consumer woes, we have gained a little bit this year, the cost of heating, the cost of energy and the cost of electricity did drop slightly, home insurance did go up a little bit.”

The AA figures do not include food, clothing, health insurance, phone bills, childcare, grooming and clothing, running a car or health insurance – which, according to the Irish Independent‘s estimates, rack up another €45,000 per annum for the average family with two children.

Better dig out that piggy bank…