bagoftricks
Registered User
- Messages
- 65
Hi all,
I own a two bedroom apartment in the South Dublin Suburbs. It is 1000 sq feet and two bedroom. When i bought the apartment the value was €520k and i put a very substantial deposit down on the apartment.
18 months later the apartment is worth €450k roughly. This is not a problem as the prices are relative.
My concern is that the first thing i lose is my equity in the apartment if i sell it.
Would it be wise if i could financially do it to keep the apartment and let it out. The rent will cover the mortgage and buy a house as my primary residence. I know nobody has the answers to this as it is related to the projection of the property market but is there anything i should be careful about irrespective of the trends of the property market?
I am confident that given time my investment will appreciate in value but i dont want to be caught out by not considering the differences between
selling the apartment now and buying a house
or
keeping the apartment and letting and buying a house
I hope this makes sense.
I own a two bedroom apartment in the South Dublin Suburbs. It is 1000 sq feet and two bedroom. When i bought the apartment the value was €520k and i put a very substantial deposit down on the apartment.
18 months later the apartment is worth €450k roughly. This is not a problem as the prices are relative.
My concern is that the first thing i lose is my equity in the apartment if i sell it.
Would it be wise if i could financially do it to keep the apartment and let it out. The rent will cover the mortgage and buy a house as my primary residence. I know nobody has the answers to this as it is related to the projection of the property market but is there anything i should be careful about irrespective of the trends of the property market?
I am confident that given time my investment will appreciate in value but i dont want to be caught out by not considering the differences between
selling the apartment now and buying a house
or
keeping the apartment and letting and buying a house
I hope this makes sense.