I had an offered accepted on an apartment in Limerick city.
I am buying it for €135k outlay wil be about €10,000 (stamp duty, legal fees and work to be done on apartment)
Getting an interest only mortgage for first year.
Rental income between €500 - 600 per month
Apartment is large two bed with en suite and bathroom, own front door and small garden to front. Its on the outskirts of Garryowen near town. An ok area I believe.
Question: I am wondering if the risk is too high? should I Put my €10k outlay plus deposit €20250 into something else? a foreign property?
Not asking you to tell me what to do just your views. Due to sign contracts next week and getting cold feet.
I am buying it for €135k outlay wil be about €10,000 (stamp duty, legal fees and work to be done on apartment)
Getting an interest only mortgage for first year.
Rental income between €500 - 600 per month
Apartment is large two bed with en suite and bathroom, own front door and small garden to front. Its on the outskirts of Garryowen near town. An ok area I believe.
Question: I am wondering if the risk is too high? should I Put my €10k outlay plus deposit €20250 into something else? a foreign property?
Not asking you to tell me what to do just your views. Due to sign contracts next week and getting cold feet.