Hi there,
So here is my situation;
I am a 48 year old single woman and I have an apartment worth 268,000
I have 140,000 left on my mortgage and its a 30 year mortgage which I
purchased 14 years ago.
I have been thinking of buying a second home and selling my current home
but it would seem like a better investment to rent it as I could get 1800 a month for it.
I earn 85000 a year and I have saved 50000.
I have no bad credit or loans.
I was hoping I could get a second home for about 450000
What are peoples thoughts?
Or should I just sell up and use my equity to secure the large mortgage?
So here is my situation;
I am a 48 year old single woman and I have an apartment worth 268,000
I have 140,000 left on my mortgage and its a 30 year mortgage which I
purchased 14 years ago.
I have been thinking of buying a second home and selling my current home
but it would seem like a better investment to rent it as I could get 1800 a month for it.
I earn 85000 a year and I have saved 50000.
I have no bad credit or loans.
I was hoping I could get a second home for about 450000
What are peoples thoughts?
Or should I just sell up and use my equity to secure the large mortgage?