What I wouldn't give to have a property in Dublin right now as I watch the prices for rents to students in Dublin right now. I'm hedged against two other university cities thank goodness. And hopefully it won't even be Ireland at all as the rents for students are astronomical.You will not get 6% anywhere else and many properties achieve more.
If you sell the house, it is likely that your family will never again be able to own a property in Dublin. This is true for most families. This has been true in London for a generation, and its coming to Dublin.
Hi BronteThat's very much a glowing crystal ball BB.
House prices might outperform equities over the next 14 years to such an extent that he will not be able to afford to buy a house in Dublin.
Equities might outperform house prices over the next 14 years.
But lets say that house prices go mad and equities slump over the next 14 years. He will still have plenty of money to rent an appropriate place for his children.
In order to have €80K the OP has to earn double that if he's in the top income tax bracket. The OP would have zero costs for renting, only have to pay the property tax and insurance. And he has his property well looked after by his children.But it is far, far more tax efficient to own a property and let your children live in it rent free.
Say you have two children about to do four-year degrees one after the other. You have €80k in cash to spend on rent for the eight years.
It would be much cheaper to buy a €160k apartment with a 50% mortgage and pay the interest. Yes, property prices can go down, but there are very few scenarios where you would be left with less than if you had just spent the €80k on rent.
Hi NRCBut it is far, far more tax efficient to own a property and let your children live in it rent free.
Suburban ITs will quite possibly all be in Grangegorman by then.Ah ye love a good argument!
(What i mean is it's a bus journey into town or a drive to the suburban ITs.)
Another poster thinks you should go with equities even though he thinks they are overvalued at presentHouse prices will rise and fall but share prices can dwindle to next to nothing even the Euro stock50 has gained nothing in 19 years and this is the the top 50 shares in Europe.
Not easy to make sense of these things.Personally I think equities look due for a correction