Hi Globalist. I am in a similar situation to you in that I have been working overseas for the past 4 years and have accumulated a large amount of cash which I am investing in stocks and shares, government bonds etc. What area do you work in? e.g engineering, finance, IT etc. Your future job in Ireland will dictate where you live or are you looking to buy where you are originally from? I would be hesitant in putting all your cash into a house until you are settled back in Ireland. I can imagine been an overseas landlord is a nightmare. Stocks and Shares are more liquid etc.
Not an investment property. It would be a precursor to moving back to Ireland.You would need to define your strategy more clearly in order to receive advice. I.e. Is the proposed house purchase intended as an investment or as a pre-cursor to a move back home?
Definitely not Dublin. Probably a satellite town of Cork city or a suburb of Cork city.Are you proposing to purchase around Dublin or in a rural/other urban location?
Nothing to do with the property ladder. This is about buying a long-term home.Is the proposed purchase based on "getting on the property ladder" or is it indented to be your long term PDH?
I could take it or leave it.Do you intend getting a rental income from the property prior to moving back home?
The total expense ratio of a home is far higher than my portfolio. The TER of my portfolio on a weighted basis is 0.135% The cost of a home includes property tax, maintenance, and insurance. But again, the property would not be about making an investment - it would be about buying a home and the security that this entails.You will also need to look at the potential return that can be achieved from your current portfolio v's your perception of the annual increase in the property market in your desired location!
the property would not be about making an investment - it would be about buying a home and the security that this entails.
My OH had a colleague sent back during the Kuwaiti war at one stage, for safety. Things like that. Then it's nice to have and own something tangiable that you can call home.
If you are looking at a home, given your situation you are hardly going to be happy in a €250k house.
Strikes me as a very bad use of money to be honest. The complete opposite of what I would like to do. Also, I don't intend to ever borrow for anything again if I can help it - not to mention that needlessly burdening myself with such a debt for 20 years would be utterly counter to my goal of financial independence and that I cannot be sure my income will be at such a level for 10 years, let alone 20.I suggest you consider getting a mortgage of about €800k to €900k. The monthly repayments would be about €5,000 over 20 years. You would still have €2,000 to save each month.
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