I have updated this from before and changed a few details.
Age: 34
Annual gross income from employment or profession: €41,000K PER ANNUM GROSS OR €2,670 A MONTH AFTER TAX
Type of employment: PAYE worker
In general are you:
(a) spending more than you earn:No
(b) saving: Yes
Rough estimate of value of home: None( Renting €320 A Month in Dublin)
Other borrowings – car loans/personal loans etc: NONE Overdraft of €1k to-day, should be back to zero in two weeks to three weeks.
Do you pay off your full credit card balance each month: YES
Savings and investments: €27,000 In a bank Account
Do you have a pension scheme: None
Do you own any investment or other property: No
Ages of children: None
PRESENT PLAN(May feel comfortable with)
I have hit 34 recently and feel life is paasing me by, the following are main issues going forward
1. Feel I need to grow up now and purchase a property for long term security(Residence)
2. I am single so I have put down roots no where. No place really feels like home. Kids are not on my long term plan at present
3. My paye Job is in Dublin city. Easier to get work in Dublin in long term.
4. To me buying a house will be a very big dececision and commitment.
5. I dont think I love Dublin enough to purchase a house their(Would not buy apartment either in Dublin).
6. I dont really know where I want to live long term.
Main Taughts on Position
1. Buy a one off house in the countyrside in Co. Cork(remote area for peace and quiet) 10 miles off M8 motorway turn off at Mitchestown.
2. Keep on Rental Flat in Dublin for 2 to 3 years as €340 at present is extremely cheap even to have a dublin Base going forward.
3. I know that a country home will have no real rental or resale value to an extent while a dublin propery could do rent a room or rent out house done the line
4. the mortgage interest for first time buyers i think is being withdrawn to an extent after 2011, tax relief would be handy for first few years
5. may have to purchase house in country and continue to work in dublin for 2 years at least
What would you do. Would you let you heart rule your head?
I am looking at my long term security and presently have no real security in rental accom.
In dublin you come home at night, and its not your place, if it was you could develop property to way you want it
thanks
Age: 34
Annual gross income from employment or profession: €41,000K PER ANNUM GROSS OR €2,670 A MONTH AFTER TAX
Type of employment: PAYE worker
In general are you:
(a) spending more than you earn:No
(b) saving: Yes
Rough estimate of value of home: None( Renting €320 A Month in Dublin)
Other borrowings – car loans/personal loans etc: NONE Overdraft of €1k to-day, should be back to zero in two weeks to three weeks.
Do you pay off your full credit card balance each month: YES
Savings and investments: €27,000 In a bank Account
Do you have a pension scheme: None
Do you own any investment or other property: No
Ages of children: None
PRESENT PLAN(May feel comfortable with)
- Buy a house(Max Price for property I would go €217 mortgage at 92% €200k max) 17k deposit
- Pay legal fees out of cashflow est 2.5k
- €10k in reserve to help in early stage repay(rain day fund)
- 25 to 30 years max repayments
I have hit 34 recently and feel life is paasing me by, the following are main issues going forward
1. Feel I need to grow up now and purchase a property for long term security(Residence)
2. I am single so I have put down roots no where. No place really feels like home. Kids are not on my long term plan at present
3. My paye Job is in Dublin city. Easier to get work in Dublin in long term.
4. To me buying a house will be a very big dececision and commitment.
5. I dont think I love Dublin enough to purchase a house their(Would not buy apartment either in Dublin).
6. I dont really know where I want to live long term.
Main Taughts on Position
1. Buy a one off house in the countyrside in Co. Cork(remote area for peace and quiet) 10 miles off M8 motorway turn off at Mitchestown.
2. Keep on Rental Flat in Dublin for 2 to 3 years as €340 at present is extremely cheap even to have a dublin Base going forward.
3. I know that a country home will have no real rental or resale value to an extent while a dublin propery could do rent a room or rent out house done the line
4. the mortgage interest for first time buyers i think is being withdrawn to an extent after 2011, tax relief would be handy for first few years
5. may have to purchase house in country and continue to work in dublin for 2 years at least
What would you do. Would you let you heart rule your head?
I am looking at my long term security and presently have no real security in rental accom.
In dublin you come home at night, and its not your place, if it was you could develop property to way you want it
thanks