I want to ask about money =)
More specifically - I'm wondering if I made a right choice buying an apartment and whether to sell or keep it. It might sound strange to ask this after actually buying, but I'm double guessing myself after a few month living there (btw I like the area and the house).. Any advise is highly appreciated.
So after 2 years of searching I got this:
2 bed apartment cost - 237500e
20% deposit - 47500e
loan - 190000e
interest rate 3% ~ 400e/month
monthly repayment - 750e
LPT/Life insurance - 50e/month (300pa + 300pa)
Management fee - 100e/month (1200pa)
Cost to buy ~ 7500e
Cost to sell ~ 7500e
Overall - 1300e/month + 15k to buy/sell
Same apartment rental in the complex - 1500-1900e/month
This is a 2 bed / 1 bath (~70sq.m.) apt in Artane with a garden. I rent 1 room to a friend for 650e/month, so I'm paying 650e/month (1300-650). To cover buy/sell costs l need to rent the room for around 2 years.
What you think, is it a good deal?
I was thinking maybe to switch to a cheaper 1 bed as I don't plan a family (max is I'll have a partner living with me). This way I can repay the loan much faster. On the other hand I can repay >50% of this property till the end of 2019 and keep renting the room.
I'm in my early 30s, have no other loans / no obligations / can repay another 20% now but am keeping it as a safety net as there's no other sources of income except my job.
More specifically - I'm wondering if I made a right choice buying an apartment and whether to sell or keep it. It might sound strange to ask this after actually buying, but I'm double guessing myself after a few month living there (btw I like the area and the house).. Any advise is highly appreciated.
So after 2 years of searching I got this:
2 bed apartment cost - 237500e
20% deposit - 47500e
loan - 190000e
interest rate 3% ~ 400e/month
monthly repayment - 750e
LPT/Life insurance - 50e/month (300pa + 300pa)
Management fee - 100e/month (1200pa)
Cost to buy ~ 7500e
Cost to sell ~ 7500e
Overall - 1300e/month + 15k to buy/sell
Same apartment rental in the complex - 1500-1900e/month
This is a 2 bed / 1 bath (~70sq.m.) apt in Artane with a garden. I rent 1 room to a friend for 650e/month, so I'm paying 650e/month (1300-650). To cover buy/sell costs l need to rent the room for around 2 years.
What you think, is it a good deal?
I was thinking maybe to switch to a cheaper 1 bed as I don't plan a family (max is I'll have a partner living with me). This way I can repay the loan much faster. On the other hand I can repay >50% of this property till the end of 2019 and keep renting the room.
I'm in my early 30s, have no other loans / no obligations / can repay another 20% now but am keeping it as a safety net as there's no other sources of income except my job.