The house is a 2 bed mid-terrace in Swords.
Bought in 2003 for €240,000
Currently worth approx €240,000
Outstanding mortgage €120,000 with 11 years remaining
Interest rate ECB + 0.95% for the remaining term
Tax, income levy, PRSI costs approx €4,500 per annum (after eligible deductions)
Current rent €1,200 per annum
My husband and I are dying to sell it to get rid of it. We've come out the other side of the property crash so we don't want to make the wrong decision in selling it if the value is going to continue to rise. We'd be raging if we sold it now and in two years it would sell for €50k or so more. We don't 'need' the money from the sale now but it would be nice to have it.
Any thoughts? Thanks in advance.
Bought in 2003 for €240,000
Currently worth approx €240,000
Outstanding mortgage €120,000 with 11 years remaining
Interest rate ECB + 0.95% for the remaining term
Tax, income levy, PRSI costs approx €4,500 per annum (after eligible deductions)
Current rent €1,200 per annum
My husband and I are dying to sell it to get rid of it. We've come out the other side of the property crash so we don't want to make the wrong decision in selling it if the value is going to continue to rise. We'd be raging if we sold it now and in two years it would sell for €50k or so more. We don't 'need' the money from the sale now but it would be nice to have it.
Any thoughts? Thanks in advance.