Only just discovered this forum and love it. I've been following "The Barefoot Investors" who is Aussie, so delighted to see something Irish.
Age: 36
Spouse’s/Partner's age: 36
Annual gross income from employment or profession: 46,000
Annual gross income of spouse: 47,000
Monthly take-home pay: circa 4,500
Type of employment: Public sector and private sector, junior management.
In general are you:
(a) spending more than you earn, or
(b) saving?
Usually saving €400 a month, can't seem to save more with childcare etc.
Rough estimate of value of home: 250,000
Amount outstanding on your mortgage: 67,000
What interest rate are you paying? Not sure. (3. Something) I'm on variable and don't want to move/ fix it in case we decide to sell and get charged a fee.
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month? Yes
Kids ages: 3 and 1
Life insurance: just recently got cheaper mortgage protection and getting husband to get that sorted too.
Savings and investments:
€13,000 in saving
Really want to invest long term and am trying to do a little research at the mo on this forum about shares etc.
Do you have a pension scheme? Yes - Public Sector, No - private sector ( nagging daily about it!!)
There's is hopefully an inheritance sum in pounds coming our way shortly. Obviously pre Brexit would have been more favourable! This could act as 20% deposit.
Do you own any investment or other property?
No not yet.
What specific question do you have or what issues are of concern to you?
We'd like a bigger family home. We live in a suburban area and ideally would like to stay in the area (even though it's expensive!). We could rent out our home and get about €1200 a month and paying about €600 a month on an 11 year mortgage.
Do we sell and take the equity? Or keep it as a pension as I see it.
Met the bank recently about getting a new mortgage. They are happy enough with us keeping it as long as they see us saving more to show we could service a new mortgage.
I'm all about saving but we have two small is in childcare and so are paying €220 a week for that.
Prices in my area have rocketed of late. As an example, a three bed semi went on the market at 275k and sold at 455k. That's before you spend 150k that's needed on it!
Not sure if now is the time to buy or just pay down the mortgage and live in the small house and look at investing in some shares for the long term.
Any advice welcome as I seem to obsess about it, especially when I pass building work in my area and get major house envy.
Thanks in advance.
Age: 36
Spouse’s/Partner's age: 36
Annual gross income from employment or profession: 46,000
Annual gross income of spouse: 47,000
Monthly take-home pay: circa 4,500
Type of employment: Public sector and private sector, junior management.
In general are you:
(a) spending more than you earn, or
(b) saving?
Usually saving €400 a month, can't seem to save more with childcare etc.
Rough estimate of value of home: 250,000
Amount outstanding on your mortgage: 67,000
What interest rate are you paying? Not sure. (3. Something) I'm on variable and don't want to move/ fix it in case we decide to sell and get charged a fee.
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month? Yes
Kids ages: 3 and 1
Life insurance: just recently got cheaper mortgage protection and getting husband to get that sorted too.
Savings and investments:
€13,000 in saving
Really want to invest long term and am trying to do a little research at the mo on this forum about shares etc.
Do you have a pension scheme? Yes - Public Sector, No - private sector ( nagging daily about it!!)
There's is hopefully an inheritance sum in pounds coming our way shortly. Obviously pre Brexit would have been more favourable! This could act as 20% deposit.
Do you own any investment or other property?
No not yet.
What specific question do you have or what issues are of concern to you?
We'd like a bigger family home. We live in a suburban area and ideally would like to stay in the area (even though it's expensive!). We could rent out our home and get about €1200 a month and paying about €600 a month on an 11 year mortgage.
Do we sell and take the equity? Or keep it as a pension as I see it.
Met the bank recently about getting a new mortgage. They are happy enough with us keeping it as long as they see us saving more to show we could service a new mortgage.
I'm all about saving but we have two small is in childcare and so are paying €220 a week for that.
Prices in my area have rocketed of late. As an example, a three bed semi went on the market at 275k and sold at 455k. That's before you spend 150k that's needed on it!
Not sure if now is the time to buy or just pay down the mortgage and live in the small house and look at investing in some shares for the long term.
Any advice welcome as I seem to obsess about it, especially when I pass building work in my area and get major house envy.
Thanks in advance.