Age: 33
Children: 1 (4 yo)
Income: 88k (78k base, 10k bonus)
Monthly take-home pay: 3794e (After pension and employer stock purchase program)
Debt: None
Do you own any investment or other property? No
Savings; Cash of €180k
Pension: 80k
Shares: €40k
Crypto: €25k
Stocks: €15k
Precious metals: €5k
The plan
Hi Folks,
I am currently not a property owner but paying low rent so comfortable for the time being.
I plan to move to Spain in a couple of years and my plan is follows:
I understand i could earn 14k tax free from the rent-a-room scheme and have just gone sale agreed on a 3 bed in Dublin for 320k (bit nervous of the timing due to upcoming crash).
What specific question do you have or what issues are of concern to you?
When i eventually move to Spain and continue renting out the rooms will this be considered "illegal", i will technically only have one property in Ireland and will still live here for many months out of the year as i work remotely.
Thank you in advance !
Children: 1 (4 yo)
Income: 88k (78k base, 10k bonus)
Monthly take-home pay: 3794e (After pension and employer stock purchase program)
Debt: None
Do you own any investment or other property? No
Savings; Cash of €180k
Pension: 80k
Shares: €40k
Crypto: €25k
Stocks: €15k
Precious metals: €5k
The plan
Hi Folks,
I am currently not a property owner but paying low rent so comfortable for the time being.
I plan to move to Spain in a couple of years and my plan is follows:
- Buy a property here very soon and rent out 2 rooms. My mortgage will be 510e per month so the rental income will cover that by a fair amount
- Save most of that income plus sales of company stock/other stock options to purchase a property in Spain within a couple of years (maybe prices could drop due to upcoming recession) and eventually make the move.
- Keep the property forever or at least very long term while renting out the rooms but spend a couple of months out of the year here.
I understand i could earn 14k tax free from the rent-a-room scheme and have just gone sale agreed on a 3 bed in Dublin for 320k (bit nervous of the timing due to upcoming crash).
What specific question do you have or what issues are of concern to you?
When i eventually move to Spain and continue renting out the rooms will this be considered "illegal", i will technically only have one property in Ireland and will still live here for many months out of the year as i work remotely.
Thank you in advance !