C
Champions
Guest
I own an investment property in an “all right” part of Cork (Turners Cross), valued at €360k which has rented consistently for the past 10 years. There is a mortgage of €90k outstanding which means I am paying quiet a lot of tax on my rental income. (€2450 paid in 2005.)
I am considering selling this and purchasing a detached house in a “better area” (Rochestown) for €600k as I think that if property prices slow down then it is the lower end of the market which will be hit the hardest. I would really appreciate comments.
Other relevant info;
My home is valued at €600k/ €650, mortgage outstanding €200k
SSIA’s at max level
Pensions well funded.
Available cash €70k
I am considering selling this and purchasing a detached house in a “better area” (Rochestown) for €600k as I think that if property prices slow down then it is the lower end of the market which will be hit the hardest. I would really appreciate comments.
Other relevant info;
My home is valued at €600k/ €650, mortgage outstanding €200k
SSIA’s at max level
Pensions well funded.
Available cash €70k