BadSuperman
Registered User
- Messages
- 2
We are wondering about how best to invest outside of the pension schemes.
Should you buy a bigger house with the excess over €1m as an investment? Let's say you buy a house for €1.5m.
This is a very interesting idea.
The extra benefit you get from living in the house is tax-free.
Any increase in value is tax-free if you ever sell it.
Against that, you will have higher local property tax and, probably, higher maintenance.
I think it's close. If you have €500k in shares, you will have access to the money if you need it e.g. to help the kids buy houses in about 20 years.
But you should certainly buy your forever home and if it costs €1.5m, so be it.
Brendan
would you suggest if you have the basics sorted
It's well worth considering.
If the mortgage is very comfortable and if you don't need cash, then it's attractive.
If you need to borrow 3.5 times your salary, it's not a good idea.
Brendan
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