TheLastBeep
Registered User
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- 30
Hi All,
Looking for some views on the implications of a decision that my wife and I are currently facing. She has been offered a job in the UK which is a great opportunity for her and would result in a significant increase in pay and career progression. Luckily, my job is flexible enough for me to be able to work remotely from the UK. It's likely my wife's role would be for at least 3-4 years but there is potential we may not return to Ireland. It's hard to predict.
So, we are faced with the decision of what to do with our property in Dublin.
We currently own a 4 bed property in Kimmage with a large garden, we been in the house for 7 years and are very happy with the property and location. We have around 300k left to pay on the mortgage and as a conservative estimate the property is worth around 600k. We have a fixed rate mortgage with Avant for the next four years at 1.95%.
The question is whether to sell the property and risk being priced out of the market when/if we return to Ireland, or to rent it out and face the risks associated with being a landlord.
Arguments for selling:
Arguments for renting:
Looking for some views on the implications of a decision that my wife and I are currently facing. She has been offered a job in the UK which is a great opportunity for her and would result in a significant increase in pay and career progression. Luckily, my job is flexible enough for me to be able to work remotely from the UK. It's likely my wife's role would be for at least 3-4 years but there is potential we may not return to Ireland. It's hard to predict.
So, we are faced with the decision of what to do with our property in Dublin.
We currently own a 4 bed property in Kimmage with a large garden, we been in the house for 7 years and are very happy with the property and location. We have around 300k left to pay on the mortgage and as a conservative estimate the property is worth around 600k. We have a fixed rate mortgage with Avant for the next four years at 1.95%.
The question is whether to sell the property and risk being priced out of the market when/if we return to Ireland, or to rent it out and face the risks associated with being a landlord.
Arguments for selling:
- We'd likely be able to sell at a reasonable profit giving us the potential to buy in the UK with a relatively small mortgage
- Selling would provide us with a clean break and eliminate any potential stress or headaches associated with being a landlord
- Neither of us have family in Dublin so we'd be remote landlords and would potentially need an agent or similar arrangement
- Possible (likely) we'd have to switch to a BTL mortgage on a much higher rate. Application process could also be complicated by work location
Arguments for renting:
- With rental prices like they are at the moment we might be able to achieve a rent far in excess of our mortgage
- Maintain a foothold in the Dublin property market meaning we're not priced out if we do decide to move back
- Attachment to the property having invested in it over the last 7 years