Hi there,
I am looking for advice please if possible.
I sold my house last year and for various issues am only in a position now to buy again and have been renting a one bedroom apartment for the past year. I am sale agreed on a 2 bedroom apartment at €400K (which I would be overpaying for due to the state of the housing market currently, asking price was €350K) on a nice street in my desired area (D8) which is also not far from where I am renting. My landlord is now selling the apartment (I have to be out by December) I am in and I could be in position to purchase it at a lower cost of around €270K. They are also currently working on the building where I am renting as there are redress issues. I work from home 3 days/week.
My financial situation is that I have a decent amount saved of €100K + mortgage approval and would prefer to buy a house instead of an apartment however its not possible currently again due to the price of houses being unaffordable to me. I can afford the mortgage payments on the 2 bed apartment at a bit of a stretch without having to get a housemate which is my preference however I wonder am I better off to buy the 1 bed apartment I am currently in and be financially better off and potentially sell it in another 3 or 4 years when the market calms a bit?
Any help would be greatly appreciated!
Thanks
I am looking for advice please if possible.
I sold my house last year and for various issues am only in a position now to buy again and have been renting a one bedroom apartment for the past year. I am sale agreed on a 2 bedroom apartment at €400K (which I would be overpaying for due to the state of the housing market currently, asking price was €350K) on a nice street in my desired area (D8) which is also not far from where I am renting. My landlord is now selling the apartment (I have to be out by December) I am in and I could be in position to purchase it at a lower cost of around €270K. They are also currently working on the building where I am renting as there are redress issues. I work from home 3 days/week.
My financial situation is that I have a decent amount saved of €100K + mortgage approval and would prefer to buy a house instead of an apartment however its not possible currently again due to the price of houses being unaffordable to me. I can afford the mortgage payments on the 2 bed apartment at a bit of a stretch without having to get a housemate which is my preference however I wonder am I better off to buy the 1 bed apartment I am currently in and be financially better off and potentially sell it in another 3 or 4 years when the market calms a bit?
Any help would be greatly appreciated!
Thanks