P
poorpeter
Guest
Have a property rented out at €950 P.M., mortgage repayments of €1,400 P.M., With other bits and pieces, Insurance etc, I'm down a good lump of Euros per month.
Mortgage is €275,000 - worth probably €230,000 with a tailwind, and would need to be that low to sell, perhaps even a little less.
My better half and I are simply fed up with it, it's causing stress now.
I am able to subsidise a fire sale with a loss of up to €50,000 absolute max. so I do appreciate that we're far from the worst example out there, especially having read some previous threads here.
Question is........ any ideas on what I should do? Is there something we're failing to see?
If the loss is €7,000 per annum, then a sale now with a loss of €50,000 is seven years losses packed in. Personally, I simply cannot see a recovery to pre-slump prices or anything like them in that time frame. Plus, a sale will ease the stress levels, and that has a value too.
Any thoughts?
Thank you.
Mortgage is €275,000 - worth probably €230,000 with a tailwind, and would need to be that low to sell, perhaps even a little less.
My better half and I are simply fed up with it, it's causing stress now.
I am able to subsidise a fire sale with a loss of up to €50,000 absolute max. so I do appreciate that we're far from the worst example out there, especially having read some previous threads here.
Question is........ any ideas on what I should do? Is there something we're failing to see?
If the loss is €7,000 per annum, then a sale now with a loss of €50,000 is seven years losses packed in. Personally, I simply cannot see a recovery to pre-slump prices or anything like them in that time frame. Plus, a sale will ease the stress levels, and that has a value too.
Any thoughts?
Thank you.