Hi all, currently bidding on a house that was on for €550000 but bidding has gone to €620000. Could possibly go to €630000. Myself and my partner have just turned 50 and will require €350k mortgage to fund this. We have been approved up to €430k. We are also in the fortunate position that I will be inheriting approx €300-350k but that could be 5-10 yrs time.
Currently paying €2k a month on our current mortgage and owe approx €130k. The house we are bidding on is in a great location but needs work probably around €100k put into it. Kids are 15 and 12 . We reckon our own house will go for €425k. We need more space and this house will give us that but only if we put money into it, it is mainly the location that is excellent near schools dart etc for when kids are in college and I also get dart to work so could walk to station. Just wondering are we nuts to be getting into a mortgage this size at our age ?
Currently paying €2k a month on our current mortgage and owe approx €130k. The house we are bidding on is in a great location but needs work probably around €100k put into it. Kids are 15 and 12 . We reckon our own house will go for €425k. We need more space and this house will give us that but only if we put money into it, it is mainly the location that is excellent near schools dart etc for when kids are in college and I also get dart to work so could walk to station. Just wondering are we nuts to be getting into a mortgage this size at our age ?