Hi all,
My husband and I live in Dublin, we are hoping to move back west in about three years and realistically expect it to take 2/3 years to both get permanent jobs and can apply for a mortgage. We are both teachers.
We are wondering would it be financially better for us to buy to let down home now, move into that house when we move home and stay there until we get the permanency we will need to get another mortgage to upgrade to a better house.
Or would we hold off, rent a house when we move home until we can get a mortgage and just buy our dream house then.
We would not be expecting to make any money off the first house while it's being rented, ideally it would just break even. It would being cheaper for us to pay mortgage repayments on it than rent when we move home.
Would we be able to use the first house/sale of it as deposit for the second or would we need to save up an entirely new deposit?
Lots of questions I know!
Any help/advice appreciated!
My husband and I live in Dublin, we are hoping to move back west in about three years and realistically expect it to take 2/3 years to both get permanent jobs and can apply for a mortgage. We are both teachers.
We are wondering would it be financially better for us to buy to let down home now, move into that house when we move home and stay there until we get the permanency we will need to get another mortgage to upgrade to a better house.
Or would we hold off, rent a house when we move home until we can get a mortgage and just buy our dream house then.
We would not be expecting to make any money off the first house while it's being rented, ideally it would just break even. It would being cheaper for us to pay mortgage repayments on it than rent when we move home.
Would we be able to use the first house/sale of it as deposit for the second or would we need to save up an entirely new deposit?
Lots of questions I know!
Any help/advice appreciated!