Hi!
Husband works in tullamore. Want to keep mortgage as low as possible as we need to change the car and want to be able to live and not struggle. We have minimal savings and are renting. We see this as chance to buy a cheap property with small deposit. Idea is to pay off mortgage ASAP, probably within 7 years
And maybe then we will sell and buy a bigger house or build, maybe not. It's the only way I see that we could ever gather enough cash to move
Onto something bigger. If we keep renting we will never save it. We have 2 small kids too.
So, our options seem to be but a house for €90k is in tullamore. Definitely no dream houses available in this price range and would take us probably 10-12
Years to pay.
Or
We have found a house we loved for €60k in a small
Town 15 mins from tullamore. It's renovated, good ber, we both like it. Could pay it off in 5-7 yrs. We prefer this house to others in budget.
But
We have been advised my a friend who owns a huge amount
Of property that house in the small village will not increase in price, will be harder to sell and harder to rent whereas if we buy in tullamore, we will sell more easily, maybe make profit or at be very least obtain a better rental
Income. Mathematically tullamore is
Probably the sensible decision. (I
Don't really like the areas in budget). Our hearts are
In the other place as well as the smaller Mortgage etc. but it would be awful to be stuck with a property we can't shift.
And in the long run, we would like to
Build or have the dream house.
Rule with the heart or the head?? Could I really live in an area I'm not in love with because it makes mathematical sense!
Anyone have any opinions?
Husband works in tullamore. Want to keep mortgage as low as possible as we need to change the car and want to be able to live and not struggle. We have minimal savings and are renting. We see this as chance to buy a cheap property with small deposit. Idea is to pay off mortgage ASAP, probably within 7 years
And maybe then we will sell and buy a bigger house or build, maybe not. It's the only way I see that we could ever gather enough cash to move
Onto something bigger. If we keep renting we will never save it. We have 2 small kids too.
So, our options seem to be but a house for €90k is in tullamore. Definitely no dream houses available in this price range and would take us probably 10-12
Years to pay.
Or
We have found a house we loved for €60k in a small
Town 15 mins from tullamore. It's renovated, good ber, we both like it. Could pay it off in 5-7 yrs. We prefer this house to others in budget.
But
We have been advised my a friend who owns a huge amount
Of property that house in the small village will not increase in price, will be harder to sell and harder to rent whereas if we buy in tullamore, we will sell more easily, maybe make profit or at be very least obtain a better rental
Income. Mathematically tullamore is
Probably the sensible decision. (I
Don't really like the areas in budget). Our hearts are
In the other place as well as the smaller Mortgage etc. but it would be awful to be stuck with a property we can't shift.
And in the long run, we would like to
Build or have the dream house.
Rule with the heart or the head?? Could I really live in an area I'm not in love with because it makes mathematical sense!
Anyone have any opinions?