Mad Bad Babs
Registered User
- Messages
- 16
Hi all
Im new to this forum but find it extremly useful for genuine honest opinions so would really appreciate any thoughts feedback you could give me on this one.
I would dearly love to trade up as soon as possible. just had baby and longing to move out the country.
My finiacial situation at the moment is:
I'm earning 42k gross. (Usually earn 50k gross but was on mat leave last year so wages were on basic as opposed to premiums i usually get for nights and weekends).
Husband earns 27K gross. Have a mortgage remaining of €149k. Savings €22k. Mother in law willing to give gift for stamp duty and remaining deposit needed.
I've got my house on market at €195k) but realistically looking at making €180k tops for it i'd say. (Paid 183K 5 years ago and at least 12k gone into it. v. high quality spec, decking, ect so selling at a loss but not in negative equity yet so i guess it's not too bad.
House we want to buy is on the market for €239K. (18 months ago they were €337K). There are 3 houses left on development so figure there maybe room for negociation on this one with builder.
I met with bank today (PTSB)and based on our currrents earning we qualify for €266k mortgage. so am ok that end. We need to have 15% deposit as we are trading up.
Obviously if i sell house we are in grand position but i am not very optimistic that we will sell. Its on market 5 weeks and only one miserable viewing!
I'm so desperate to move im really tempted to rent out my house and keep as a long term 'investment'? scrape together the deposit plus Stamp duty with savings and gift from rich granny!
Obviously the bank are less enthusiastic about this option although they didnt rule it out completely. From what i can gather if i can get guaranteed prove of rental income with tenants contracts signed ect this could help me get second mortgage.
I'm fully aware of the pitfalls of renting out my first home and realise it comes with ALOT of hassle, loss of TRS, income tax ect ect.
I suppose i am gauled to sell my house at low price even if market still drops and as i said im not very optimistic i'ill sell at all the way things are going.
EA for builders will take a 5k fully refundable booking deposit and no contracts signed until we sell our own.
If I rented out my own house, and got second mortgage i feel we would be in a better position to negociate to knock down at least another 10k off asking price.
What do ye think? any feedback greatly appreciated!
Im new to this forum but find it extremly useful for genuine honest opinions so would really appreciate any thoughts feedback you could give me on this one.
I would dearly love to trade up as soon as possible. just had baby and longing to move out the country.
My finiacial situation at the moment is:
I'm earning 42k gross. (Usually earn 50k gross but was on mat leave last year so wages were on basic as opposed to premiums i usually get for nights and weekends).
Husband earns 27K gross. Have a mortgage remaining of €149k. Savings €22k. Mother in law willing to give gift for stamp duty and remaining deposit needed.
I've got my house on market at €195k) but realistically looking at making €180k tops for it i'd say. (Paid 183K 5 years ago and at least 12k gone into it. v. high quality spec, decking, ect so selling at a loss but not in negative equity yet so i guess it's not too bad.
House we want to buy is on the market for €239K. (18 months ago they were €337K). There are 3 houses left on development so figure there maybe room for negociation on this one with builder.
I met with bank today (PTSB)and based on our currrents earning we qualify for €266k mortgage. so am ok that end. We need to have 15% deposit as we are trading up.
Obviously if i sell house we are in grand position but i am not very optimistic that we will sell. Its on market 5 weeks and only one miserable viewing!
I'm so desperate to move im really tempted to rent out my house and keep as a long term 'investment'? scrape together the deposit plus Stamp duty with savings and gift from rich granny!
Obviously the bank are less enthusiastic about this option although they didnt rule it out completely. From what i can gather if i can get guaranteed prove of rental income with tenants contracts signed ect this could help me get second mortgage.
I'm fully aware of the pitfalls of renting out my first home and realise it comes with ALOT of hassle, loss of TRS, income tax ect ect.
I suppose i am gauled to sell my house at low price even if market still drops and as i said im not very optimistic i'ill sell at all the way things are going.
EA for builders will take a 5k fully refundable booking deposit and no contracts signed until we sell our own.
If I rented out my own house, and got second mortgage i feel we would be in a better position to negociate to knock down at least another 10k off asking price.
What do ye think? any feedback greatly appreciated!