Age: 33
Children: 1 (4 yo)
Income: 86k (76k base, 10k bonus)
Monthly take-home pay: 3780e (After pension and employer stock purchase program)
Debt: None
Do you own any investment or other property? No
Savings; Cash of €170k
Pension: 78k
Shares: €95k
Crypto: €45k
Stocks: €15k
Precious metals: €5k
What specific question do you have or what issues are of concern to you?
I realize i am not getting any younger and very exposed with my cash position in this inflationary environment so i am looking to purchase a property to live in. This property would ideally be a house i would be happy with for at least the next 10 - 15 years but property is so overvalued i am concerned i may be purchasing just before the crash and second thinking myself on if i should wait or buy now.
I plan to purchase a 3 bed in Dublin with the cash and borrow 240k over 30 years so my max budget is 410k and rent out 2 rooms out for a couple of years to help with the repayments . I am in a unique position as a family member is in Canada and i am living in their property for low rent (500e pm) so i am not getting fleeced with rent, thus can afford to wait to see where prices go but i get the impression i may regret waiting given all this inflation at the moment.
I've ran the calculations and the rooms rented out should cover the mortgage and some change but i get the feeling this could all change if we hit a recession and rent drops. Am i over thinking this and being too risk averse?
Children: 1 (4 yo)
Income: 86k (76k base, 10k bonus)
Monthly take-home pay: 3780e (After pension and employer stock purchase program)
Debt: None
Do you own any investment or other property? No
Savings; Cash of €170k
Pension: 78k
Shares: €95k
Crypto: €45k
Stocks: €15k
Precious metals: €5k
What specific question do you have or what issues are of concern to you?
I realize i am not getting any younger and very exposed with my cash position in this inflationary environment so i am looking to purchase a property to live in. This property would ideally be a house i would be happy with for at least the next 10 - 15 years but property is so overvalued i am concerned i may be purchasing just before the crash and second thinking myself on if i should wait or buy now.
I plan to purchase a 3 bed in Dublin with the cash and borrow 240k over 30 years so my max budget is 410k and rent out 2 rooms out for a couple of years to help with the repayments . I am in a unique position as a family member is in Canada and i am living in their property for low rent (500e pm) so i am not getting fleeced with rent, thus can afford to wait to see where prices go but i get the impression i may regret waiting given all this inflation at the moment.
I've ran the calculations and the rooms rented out should cover the mortgage and some change but i get the feeling this could all change if we hit a recession and rent drops. Am i over thinking this and being too risk averse?