Should i sell Investment Property

[Idiot Realtor]

Hi, I have an investment property (two bed apartment) that i am thinking of selling. I don't know if it is the right time. I'd appreciate if someone could give me advice. Details of my situation below:

Monthly Rent: 925.00
Mortgage Monthly: 880.00 (Interest Rate is 4.15% with BOI currently, going to change shortly if i don't sell)
Bought for: 160,000.00 in 2004 (30 year mortgage)
Current Value : 210,000.00 approx

The apartment is in Athenry in Galway where much like other towns, there are zero properties to rent. There is also an added factor that Dexcom is building a massive factory there, to be opened in the next few years.

I don't know whether to offload this apartment now or stay with it. We still have 260K of a mortgage on our primary residence which is in my wifes name only.

Any advice would be really appreciated.

 

[ClubMan]

Hi, I have an investment property (two bed apartment) that i am thinking of selling. I don't know if it is the right time.

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I don't know whether to offload this apartment now or stay with it. We still have 260K of a mortgage on our primary residence which is in my wifes name only.

Impossible to know for sure without more information about your overall personal/financial circumstances such as would be covered in a Money Makeover post:

Key Post - Basic information required for the "Money Makeover" forum

It can be difficult, but please try to use a meaningful title in your thread For example "27 year old with mortgage arrears". You will get a much better and much more coherent answer if you give as much information as possible in your first post. For example, if you give your mortgage rate, it...

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[Brendan Burgess]

I have set out a systematic approach to the issue here:

Key Post - A systematic approach to deciding whether to keep your home as an investment after trading up

This has been covered before a few times, most notably in this Key Post, by Sarenco. This post updates it and tries to put a systematic framework on the issue. If you decide to keep your home as an investment, it is a decision which you should review every few years to see if it's still...

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plug the numbers into that and see what they come out like.