P
I'm in my mid 30's. I have several friends & colleagues around the same age who bought apartments in their mid-late 20's when they were single. Now they're married or in longterm relationships, they're struggling to fit 2 kids into their 2 bed apartments, or in one case, postponing having a family because they can't sell the apartment and move.
The wealthier people I know in this position have rented out their apartments and have rented houses (or bigger 3/4 bed apartments), but are still paying several hundred euro a month on top of their rent received to pay their mortgages on the apartment they own.
You're 25 and single, and smart with your cash if you're on the way to having 20k in savings. Stay renting, enjoy the freedom.
My €0.02.
Remember every euro of your mortgage is about three euros paid back over the life of the mortgage
Where are you getting this from?
Hi All,
I am hoping to buy an 2bed apartment in Dublin City Center in 2012. My planned budget is €230k (plus €10k for fees etc). I'm working towards having €20k saved and my parents have offered me another €20k so I would need a mortgage of €200k.
My gross salary is €45k, I'm currently paying €500 per month in rent and saving €750. I'm 25 and single with no kids. I intend to rent out a room, but think that I could afford the payments without that additional income.
As a single person, are my plans realistic? Or am I deluding myself? What steps should I take now to put myself in the best position (in terms of getting a mortgage) when the time comes?
Any advice would be much appreciated!
Thanks
Some people just seem to prefer living in apartments.
Very very few, most bought apartments to get on the "ladder", not because they wanted to grow old in one.
If you buy in 2011, you may qualify for a lot larger amount of tax relief, if you are a First Time Buyer.
Leaving it till 2012 will cost you thousands.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?