Hi, looking for some advice on renting.
We are hoping to move to larger house from small 2 bed apartment (increasing family!)
Ideally we would sell the apartment and have money that we saved up to be a deposit on a 3/4 bed house however difficulty is we cannot sell and if we did would ensure all our savings (and then some) would dissapear to pay off the negative equity.
Would anyone have an opinion about whether we should rent the apartment out and rent or buy a bigger house. Not sure what tax we would pay on renting (eg if rent was 1,000 a month how much would the net rent after tax be).
Our current mortgage is €1400 a month and and we currently pay about €1700 every quarter on interest. I know there is interest relief?
Any advice would be most welcome
We are hoping to move to larger house from small 2 bed apartment (increasing family!)
Ideally we would sell the apartment and have money that we saved up to be a deposit on a 3/4 bed house however difficulty is we cannot sell and if we did would ensure all our savings (and then some) would dissapear to pay off the negative equity.
Would anyone have an opinion about whether we should rent the apartment out and rent or buy a bigger house. Not sure what tax we would pay on renting (eg if rent was 1,000 a month how much would the net rent after tax be).
Our current mortgage is €1400 a month and and we currently pay about €1700 every quarter on interest. I know there is interest relief?
Any advice would be most welcome