Hello
I am hoping one of you can give me some guidance here, I want to find out if it is possible to buy a new family home but keep the one we currently have and use it as a rental.
Myself and my husband owe €136k on our current home and the property is worth approx €650k, if this was to go on the rental market we would get €3k a month.
The house we are interested in is on the market for €595k
We have approx €90k in savings
My income is €50k plus €10k bonus and my husband earns €120k
We have 2 kids and with crèche fees of €540 per month and a car loan with €15k owing it is costing €420pm
We have no credit cards or short term debts
Any advise is very much appreciated.
I am hoping one of you can give me some guidance here, I want to find out if it is possible to buy a new family home but keep the one we currently have and use it as a rental.
Myself and my husband owe €136k on our current home and the property is worth approx €650k, if this was to go on the rental market we would get €3k a month.
The house we are interested in is on the market for €595k
We have approx €90k in savings
My income is €50k plus €10k bonus and my husband earns €120k
We have 2 kids and with crèche fees of €540 per month and a car loan with €15k owing it is costing €420pm
We have no credit cards or short term debts
Any advise is very much appreciated.