F
figtree
Guest
Just gone 26 years of age just out of a long term relationship.
No children and need to let the hair down and get away. Private sector employee with a mortgage of 400 euro a month, due to a bit of inheritance I managed to half my mortgage from day one.
Anyhow, as I am relatively young and I don't know what exactly I want to pursue work wise I'm looking at the possibility of heading abroad in the next couple of months.
Now, my dilemma is as follows, I bought the property less than 2 years ago at the height of the bubble but due to circumstances money came to me and instead of buying a car I decided to knock the money off the mortgage.
Obviously since then the value of my property has possibly halved, I don't rent out any rooms at present and live on my own.
With a mortgage repayment of 400 a month how easy or difficult would I find it if I went abroad given the likelihood that property taxes etc will be introduced.
Obviously I could rent a room out now if things went according to plan.
The option of renting the whole thing out just doesn't appeal to me due to the fact that the government will probably get half in tax, and then you have red tape, potential dodgey tenants etc.
Given my circumstances what would you advise I do?
Given the figures involved and possible future developments in Ireland how feasible is it for me to leave the property empty?
Or should I just try to flog it now if I don't have a clue what to do? How would people looking at the post reason in terms of house values, and the possible loss I'd make.
Or could I rent out a room and not be resident in Ireland and still be covered by the rent a room scheme?
Annual gross income from employment or profession: 46,000
Rough estimate of value of home: ?
Mortgage on home 100,000 (bought for 215)
Mortgage provider: BOI
Type of mortgage: variable
Interest rate: low
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month? no
If not, what is the balance on your credit card? zero
Savings and investments: 8,000
Do you have a pension scheme? DB
No children and need to let the hair down and get away. Private sector employee with a mortgage of 400 euro a month, due to a bit of inheritance I managed to half my mortgage from day one.
Anyhow, as I am relatively young and I don't know what exactly I want to pursue work wise I'm looking at the possibility of heading abroad in the next couple of months.
Now, my dilemma is as follows, I bought the property less than 2 years ago at the height of the bubble but due to circumstances money came to me and instead of buying a car I decided to knock the money off the mortgage.
Obviously since then the value of my property has possibly halved, I don't rent out any rooms at present and live on my own.
With a mortgage repayment of 400 a month how easy or difficult would I find it if I went abroad given the likelihood that property taxes etc will be introduced.
Obviously I could rent a room out now if things went according to plan.
The option of renting the whole thing out just doesn't appeal to me due to the fact that the government will probably get half in tax, and then you have red tape, potential dodgey tenants etc.
Given my circumstances what would you advise I do?
Given the figures involved and possible future developments in Ireland how feasible is it for me to leave the property empty?
Or should I just try to flog it now if I don't have a clue what to do? How would people looking at the post reason in terms of house values, and the possible loss I'd make.
Or could I rent out a room and not be resident in Ireland and still be covered by the rent a room scheme?
Annual gross income from employment or profession: 46,000
Rough estimate of value of home: ?
Mortgage on home 100,000 (bought for 215)
Mortgage provider: BOI
Type of mortgage: variable
Interest rate: low
Other borrowings – car loans/personal loans etc: None
Do you pay off your full credit card balance each month? no
If not, what is the balance on your credit card? zero
Savings and investments: 8,000
Do you have a pension scheme? DB