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cdoerr said:Now my monthly salary is around €1800
cdoerr said:I might get around €600 in rent
cdoerr said:the bank will give me a 39 year mortgage of €1068 per month.
cdoerr said:I have around €15,000 savings in my credit union.
cdoerr said:I'm not sure about mortgage relief or any other benefits I might receive.
cdoerr said:So in a nutshell, I'm asking for advice. What would you do? Would you pull the trigger and hope all is well for the next few years or should I hold back until I'm more prepared(whatever that means) and more older?
AKA said:You'll also have to come up with house insurance...in or around €300+ per year...
AKA said:Then there's bills on top of that. There's a few budget calculators out that would assist you here.
AKA said:I'd be concerned if the mortgage interest rates went up...have you factored this into your sums...there's a few calculators out there that will do this for you.
cdoerr said:1. That figure for €1800 is net.
2. This is the worry. I would need rent and I'm counting that I should get rent in Maynooth. I suppose I should multiply 600 by 9 instead of 12, assuming 75% occupancy throughout the year.
cdoerr said:3. Apologies. It's at 3.8% variable rate. ulster bank are offerring the loan, I suppose they are giving it based on my age profile etc.
cdoerr said:I would welcome more feedback. I mean I will be purchasing a house at 10 times the price of my salary. Is this a viable or sensible thing to do?.
cdoerr said:Assuming I occupy the house what benefits or relief do I expect to get?
cdoerr said:I'm a youngish (26),single guy and recently my parents suggested on buying a second-hand house. So we've decided to look at purchasing a 3 bedroomed house, which is priced at €317,500 in the Maynooth region.
cdoerr said:Hi,
So we've decided to look at purchasing a 3 bedroomed house, which is priced at €317,500 in the Maynooth region.
Now what worries me greatly is that am I extending myself too far here? I might get around €600 in rent
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