Moneymakeover Couple in 30's - Spending Dilemma

[conor_mc]

Based on the return I'm getting on those flights of 2c per point, I am getting 5.4% on the money without any DIRT due, it feels like a no brainer to me. Top instant access interest rates of less than 1.5% after DIRT from what I can see. I'd welcome another perspective on this.

RevPoints or interest on a deposit account, it doesn’t matter what % return you’re getting if you’re spending the growth and allowing inflation to eat away at the value of your lump sum vs your target, which is a house. I think you need to adjust your thinking on this. Now, if you’re replacing the foregone interest by adding ~€2k a year to your savings, but getting €4k worth of flights/hotels from your RevPoints then yeah, I get that alright.

 

[Duddaa]

Purchasing a site is also a live option.

As a long term option securing planning permission will be the challenge.

Would the purchase of any land be from any grandparent? Is that land suitable (flooding / zoning / topography / foul sewer / access to road with adequate visibility / etc)? Local development plans come up for renewal every 4-5 years. As time is on your side if you stay renting short term, you could even get suitable land potentially rezoned in the next development plan.

While this option can be incredible stressful and costly you have the time to review it. No harm doing background work on this in parallel without spending money like getting some of the planning documents eg were you in a local school in the area and if so get a letter confirming.