I just saw a house that has gone on sale nearby which would be a step up from where I'm living now. I wasn't considering moving ever but this house that has just gone on sale has many modifications that we were thinking of getting done on our place and would be a reasonable upgrade.
My situation at the moment is that we are half way through our mortgage on our place. I'd say our place is worth about €150K less than the place I'm looking at. We have about €100K in savings.
I'm not sure how feasible it is. And I'm not sure what the right questions to ask are.
I was googling bridging loans but banks don't seem to do those.
I was thinking of ringing the estate agent handling the sale tomorrow and expressing our interest. If we wanted to purchase we'd have to sell our current house first. Might be in their benefit to handle both sales.
Is this dreaming or possible? I can't be the first person thinking of doing something like this. Are there any major questions I should ask or (non obvious) pitfalls that I should keep an eye out for.
My situation at the moment is that we are half way through our mortgage on our place. I'd say our place is worth about €150K less than the place I'm looking at. We have about €100K in savings.
I'm not sure how feasible it is. And I'm not sure what the right questions to ask are.
I was googling bridging loans but banks don't seem to do those.
I was thinking of ringing the estate agent handling the sale tomorrow and expressing our interest. If we wanted to purchase we'd have to sell our current house first. Might be in their benefit to handle both sales.
Is this dreaming or possible? I can't be the first person thinking of doing something like this. Are there any major questions I should ask or (non obvious) pitfalls that I should keep an eye out for.