What to do with 75K Equity?

[pennypincher]

I am due to sell a Dublin Property and after paying mortgage will have about 75K surplus.I bought a PPR down the country last September and have no issues paying the mortgage.I won't be liable for CGT(or very little) on the Dublin property once I sell before september(5Year thing).What's the best way to use this money,all my friends think I'm mad to consider paying it off my PPR mortgage,I'll never save that amount myself ...I should look at investing elsewhere, etc.etc.and re-investing in property is also being suggested!Any ideas?

 

[Unregistered]

Fundamental question ... why did you sell in the first place ?

Were you worried, bored, ... ?

 

[pennypincher]

No Boredom wasn't an issue!Basically I can't afford it,I've no money for the rainy day,and I was well and truely scorched by the Dotcom.bom!I remember having a share I bought for $30 dollars which was trading at $90 and we all held because "everyone said it would hit $200 in a year!",anyway long story shot they bombed I held onto them hoping for a recovery and they are now worth $12.I remember at the time thinking they could never go below fifty in worst case scenario....now I'm thinking the same with the houses....I can't find any examples of a huge house price increase followed by a soft landing....and again financially I'm not in a position to continue with a second property....so any ideas what to do with 75K...?

 

[doogo]

how about foreign property punt - try and get on different property boom escalator - hopefully closer to the bottom of the rise - with 75k you could put down enough of a marker on a sale/leaseback scheme so the property more than pays for itself ....

if you're in Dublin, there is a big overseas property exhibition on in Leopardstown Racecourse all this weekend

 

[RainyDay]

how about foreign property punt - try and get on different property boom escalator - hopefully closer to the bottom of the rise

€75k is a lot of money to spend on a 'hopefully' - What's the chances that the foreign property punt is about as safe as the dot com punt was last time around?