O
optiplex
Guest
Age: 32
Annual gross income from employment: 80k
In general I save each month €1500
Rough estimate of value of home 220K
Amount outstanding on mortgage:300K
Interest rate: half tracker 1.5%, half variable about 5%
Savings and investments: 140k savings
Hi I would be most grateful for a little direction if possible?
The house I am in at the moment is not the house I want to live in very long term. For the medium term (next 5 years) it would be quite OK. I would like to buy another house somewhere else long term.
The mortgage payments which are €1200 per month are similar to the cost renting a house at the moment.
My questions are should I
1/keep saving to buy a house I would like to live in long term and keep the current house.
2/Use my saving to pay off the variable part of mortgage and start saving for the next house.
3/Sell now cut losses and start saving for the next house
any help would be appreciated
Annual gross income from employment: 80k
In general I save each month €1500
Rough estimate of value of home 220K
Amount outstanding on mortgage:300K
Interest rate: half tracker 1.5%, half variable about 5%
Savings and investments: 140k savings
Hi I would be most grateful for a little direction if possible?
The house I am in at the moment is not the house I want to live in very long term. For the medium term (next 5 years) it would be quite OK. I would like to buy another house somewhere else long term.
The mortgage payments which are €1200 per month are similar to the cost renting a house at the moment.
My questions are should I
1/keep saving to buy a house I would like to live in long term and keep the current house.
2/Use my saving to pay off the variable part of mortgage and start saving for the next house.
3/Sell now cut losses and start saving for the next house
any help would be appreciated