2 Apartments or 1

D

daveog2008

Guest
Myself and my girlfriend have 2 appointments booked with my banks mortgage advisor and an estate agent for this week. We are not sure whats best to do in relation to house buying.
My girlfriend has a 2 bed apartment she bought a little over a year ago for €400,000, she previously had a 1 bed apartment which she sold to buy the 2nd one, so her mortgage is not too bad at €1000 odd a month.
I have been saving hard for 2 years now and have managed to save €25,000 with the intention of buying somewhere as an investment. We are due to get married next year, but have agreed to put that back a few years if need be so we can have a 2nd property as an investment, I know we are in a very lucky position to be able to do this , but we worked hard to get here.Anyway, with the current housing prices and the way it is heading I have found myself being able to afford a 2 bed apartment for €285,000.Ultimately our goal is to have a house and if possible have the 2nd property as the investment but now this chance to have 2 apartments possibly as investments has arisen.
Not sure if its easier to buy a house off the backs of 2 apartments or should we just stay with the one apartment and use the saved money as a house deposit.
The down side is if we sell the apartment we have already due to current prices we will loose money not being able to get the €400,000 she bought it for.
Any advice welcome.

Thanks and regards, Dave.
 
Does the phrase all "your eggs in the one basket" mean anything to you?

Why not look at some other asset types?
 
If your GF only bought a year ago chances are the place is worth less now than when she bought it. I'd say use your cash to pay down as much of that mortgage as possible to keep your good LTV ratio and then max out your pension contributions.
 
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