to sell or not 2 sell??

  • Thread starter rustymeskell
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rustymeskell

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I currently have an investment property in Ireland which is after appreciating since i bought it.... a 3 bed semi.. on an interest only mortgage and being a site virgin and having seen some interesting views I have formed the opinion that maybe I should sell take the profit and run.... as george lee would do after all HE REALLY is runnin the republic... any helpful suggestions would be appreciated
 
Why sell now , do you need the cash ? same house you have will be worth more in say 5Yr or whatever in my opinion ,
 
Don't see why u would sell. Even if the market cools, as a medium-long term investment property should be good.
 
If you're tempted to take the money and run, now is the right time to do it anyway. It's a sellers market right now with houses going for well above their guiding prices. It won't always be like that.

If you're worried about getting lumped with the house for the next 10 to 20 years then sell now and you'll make easy money.
 
what is the property yielding? If you bought a few years ago there is a good chance that your rent is more than covering your mortgage. I am not a big fan of investment property in Ireland at the moment; but if you already own it it might be worth holding on to it.

Could you provide some financial details?
 
Transaction costs in ireland are very high (basically stamp duty), so if you feel that maybe you'd need another property in x yrs from now, and the yield (based on what you paid for it) is good, then perhaps you should hold on to it. On the other hand, it is very definitely a sellers market and is there any point in trying to time the market - if you're happy with the profit already garnered sell.
One other thing to take into account the current generous CGT rate of 20% will not be there for ever, who knows when that will be changed, there may be a different administration next year and that could be the catalyst. (pure speculation on my part).
 
The house in question is part of a 2 yr old devleopment in Portlaoise(international commuter hub) currently rented and the rent covers the mortgage repayments I reckon that house prices are now at their peak and the time to sell is in the very near future.After all the years of doom- saying with regards to property Is the end nigh?
 
Glenbhoy said:
Transaction costs in ireland are very high (basically stamp duty), On the other hand, it is very definitely a sellers market and is there any point in trying to time the market - if you're happy with the profit already garnered sell.
One other thing to take into account the current generous CGT rate of 20% will not be there for ever, who knows when that will be changed, there may be a different administration next year and that could be the catalyst. (pure speculation on my part).
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I would suggest the first highlighted sentence unless you want to be greedy (which is understandable in one way) The point about 20% CGT is a good one imho ahd the rises are certainly by the sounds of it not going to continue they did imho again. I am conservative so I would say why risk the profit (if its worth your while to sell now) but thats only what I would do I wouldnt be risking what you've 'earned' from the rises if its a good amount
 
rustymeskell said:
The house in question is part of a 2 yr old devleopment in Portlaoise(international commuter hub) currently rented and the rent covers the mortgage repayments
Click to expand...

you must have an interest only mortgage then?
 
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