Hi
I bought an 'investment' property apartment Dec 2007 in Sligo. Paid €256,000. Thought it would be a good investment and add to my pension. Bad decision ....Got a tracker mortgage for €220,000 for 20 years. It has been rented since end 2008 - varying rents over the years. I'm finding it tough paying the mortgage now and am considering selling it as its a noose around my neck.
Mortgage per month €1520.
Rent €1,000
LPT €200 year
Maintenance fees €1200 year
Tax paid for 2023 - €3107
Estimated value of property €195,000
Estimated amount on mortgage €105,000
I'm a public servant - aged 60.
Sell or hold? Appreciate any advice.
I bought an 'investment' property apartment Dec 2007 in Sligo. Paid €256,000. Thought it would be a good investment and add to my pension. Bad decision ....Got a tracker mortgage for €220,000 for 20 years. It has been rented since end 2008 - varying rents over the years. I'm finding it tough paying the mortgage now and am considering selling it as its a noose around my neck.
Mortgage per month €1520.
Rent €1,000
LPT €200 year
Maintenance fees €1200 year
Tax paid for 2023 - €3107
Estimated value of property €195,000
Estimated amount on mortgage €105,000
I'm a public servant - aged 60.
Sell or hold? Appreciate any advice.