PheasantPlucker
Registered User
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Hi
I would appreciate some advice on whether or not to sell our rental property in Dublin
Mortgage 190K (Tracker 1% above ECB)
Property Value at present 330K
Bought for 317 in 2005
Years remaining in mortgage = 16 years
Rent received per month 1200K per month. We could get way more (possibly 2000K per month) but we have long term tenants who are great tenants. We have never had to pay anything towards upkeep (yet) & got caught with not increasing rent before 4% pressure zone rules….
Rental income return & Property Tax /Insurance etc. overall costs us about 300 euros per month total.
My salary 52K Gross. Age 47
Husband is a contractor so comes out with about 60K per year Net. Can be out of work for a few months between contracts. Age 40
We moved to Cork 8 years ago (Cork mortgage 260K) and managed to keep property in Dublin and bought a family home in Cork in 2014. We would like to renovate house in Cork which would cost about 50K.
We have two kids with usual expenses and we find it hard to save although we do manage to put some away. Currently have 18K savings, mostly due to redundancy etc.
My husband and I have basic pension although husband does not pay into any pension at present, and hasn’t for a few years.
We are edging on the side of selling as we would like to renovate our family home in Cork and reduce or Cork mortgage but I would like people's opinion please. If its a good investment, I don't want to let it go either.
I would appreciate some advice on whether or not to sell our rental property in Dublin
Mortgage 190K (Tracker 1% above ECB)
Property Value at present 330K
Bought for 317 in 2005
Years remaining in mortgage = 16 years
Rent received per month 1200K per month. We could get way more (possibly 2000K per month) but we have long term tenants who are great tenants. We have never had to pay anything towards upkeep (yet) & got caught with not increasing rent before 4% pressure zone rules….
Rental income return & Property Tax /Insurance etc. overall costs us about 300 euros per month total.
My salary 52K Gross. Age 47
Husband is a contractor so comes out with about 60K per year Net. Can be out of work for a few months between contracts. Age 40
We moved to Cork 8 years ago (Cork mortgage 260K) and managed to keep property in Dublin and bought a family home in Cork in 2014. We would like to renovate house in Cork which would cost about 50K.
We have two kids with usual expenses and we find it hard to save although we do manage to put some away. Currently have 18K savings, mostly due to redundancy etc.
My husband and I have basic pension although husband does not pay into any pension at present, and hasn’t for a few years.
We are edging on the side of selling as we would like to renovate our family home in Cork and reduce or Cork mortgage but I would like people's opinion please. If its a good investment, I don't want to let it go either.