I'm currently living in London. I have been toying with the idea of investing in a two bed flat in Cork with the intention of moving into it when I return - these are the figures I've come up with so far.
Have I covered everything?
Investment Cost:
--------------------------------------
Basic Property Cost €132,000.00
Solicitor's costs €1,980.00
Stamp duty €1,320.00
Survey/Valuation fee €130.00
Redecoration & Snags €300.00
Basic Furnishings (est) €2,950.00
First month mortgage (UnLet) €595
Utilities first month (UnLet) €150.00
Investment Total €139,425.00
Annual Costs:
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Prop TAX €225.00
Maint Fee €450.00
PRTB Fee €90.00
Landlord Insurance €300.00
Annual Total Costs €1,065.00
---------------------------------------
Achievable rent €790 (estimated 10% less then similar properties & on par with 2013 average according to PRTB site for this area)
Income (11 months to allow for yearly void) less costs (excl TAX) is €815.00
Have I covered everything?
Investment Cost:
--------------------------------------
Basic Property Cost €132,000.00
Solicitor's costs €1,980.00
Stamp duty €1,320.00
Survey/Valuation fee €130.00
Redecoration & Snags €300.00
Basic Furnishings (est) €2,950.00
First month mortgage (UnLet) €595
Utilities first month (UnLet) €150.00
Investment Total €139,425.00
Annual Costs:
---------------------------------------
Prop TAX €225.00
Maint Fee €450.00
PRTB Fee €90.00
Landlord Insurance €300.00
Annual Total Costs €1,065.00
---------------------------------------
Achievable rent €790 (estimated 10% less then similar properties & on par with 2013 average according to PRTB site for this area)
Income (11 months to allow for yearly void) less costs (excl TAX) is €815.00