Age: 45
Spouse’s/Partner's age: 43
Annual gross income from employment or profession: 78000
Annual gross income of spouse: 28000
Monthly take-home pay: 5,800
Type of employment: Private Sector, Public Sector
Saving per month 500
Rough estimate of value of home 270,000
Amount outstanding on your mortgage: 270,000
Interest Rate 4.5%
Years left 25
Repayment per month 1500 (pay extra 200 pm)
No other borrowings
Do you pay off your full credit card balance each month? Yes
Savings and investments: €40,000
Do you have a pension scheme? Yes me only
Do you own any investment or other property? Yes
Property 1: Value 185000
Rent per month 950
Mortgage balance outstanding now: €185,000
Interest Rate 4.0 variable
Mortgage repayment per month 1050
Years left 23
Costing 400 pm extra to fund between tax, fees, residential fees etc
Age of kids: 7/4 - childcare costs €800 per month
Life insurance: Yes
Question: After 10 years of being accidental Landlords, our 2nd property has finally reached water level. We could sell it now and with fees etc get out now making no profit at all.. Should we do this or hang on to it hoping that property price goes up?
Spouse’s/Partner's age: 43
Annual gross income from employment or profession: 78000
Annual gross income of spouse: 28000
Monthly take-home pay: 5,800
Type of employment: Private Sector, Public Sector
Saving per month 500
Rough estimate of value of home 270,000
Amount outstanding on your mortgage: 270,000
Interest Rate 4.5%
Years left 25
Repayment per month 1500 (pay extra 200 pm)
No other borrowings
Do you pay off your full credit card balance each month? Yes
Savings and investments: €40,000
Do you have a pension scheme? Yes me only
Do you own any investment or other property? Yes
Property 1: Value 185000
Rent per month 950
Mortgage balance outstanding now: €185,000
Interest Rate 4.0 variable
Mortgage repayment per month 1050
Years left 23
Costing 400 pm extra to fund between tax, fees, residential fees etc
Age of kids: 7/4 - childcare costs €800 per month
Life insurance: Yes
Question: After 10 years of being accidental Landlords, our 2nd property has finally reached water level. We could sell it now and with fees etc get out now making no profit at all.. Should we do this or hang on to it hoping that property price goes up?
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