Hi All
I am sure asked before , but all scenerios different. I am looking for some thoughts on our situation. Wether to sell or rent our old house.
We have moved to a new family home in Dublin 4 in 2010 , with new mortgage of 430,000 Variable mortgage cost 2500 approx. per month over 25 years.
Our previous home in Dublin 4 - we had a tracker mortgage for lifetime of loan. Loan - 435,000 - Interest only - 1.35% - 500 euro per month. The market was so bad in 2010, we could,nt sell it so we rented the property tenants just moved out after 2 years. Rent was 1700 per month.
Just had the house valued by estate agent who says market has picked up and would sell house for 525,000.
Our incomes are 45,000 each and have a business.
So I am looking advice if you think I should sell and pay 90,000 of our new mortgage. Or keep rented property in the hope price will rise over 5-10 year period
I am sure asked before , but all scenerios different. I am looking for some thoughts on our situation. Wether to sell or rent our old house.
We have moved to a new family home in Dublin 4 in 2010 , with new mortgage of 430,000 Variable mortgage cost 2500 approx. per month over 25 years.
Our previous home in Dublin 4 - we had a tracker mortgage for lifetime of loan. Loan - 435,000 - Interest only - 1.35% - 500 euro per month. The market was so bad in 2010, we could,nt sell it so we rented the property tenants just moved out after 2 years. Rent was 1700 per month.
Just had the house valued by estate agent who says market has picked up and would sell house for 525,000.
Our incomes are 45,000 each and have a business.
So I am looking advice if you think I should sell and pay 90,000 of our new mortgage. Or keep rented property in the hope price will rise over 5-10 year period