I think you would be better off setting up a private pension, maximising your annual pension contributions for 2019 and going forward and then using the balance of the €200k to pay down your home mortgage.
25 Years - Sale Price | 500,000 |
Purchased Price | 388,000 |
Profit | 112,000 |
Less CGT @ 33% | 36,960 |
Balance | 463,040 |
Thanks for this. If we assume that the rent pays for the mortgage do the following figures look roughly right (although I would expect lower than this with selling fee, etc.). Of course I accept that the sales price is a big assumption.
25 Years - Sale Price 500,000Purchased Price 388,000Profit 112,000Less CGT @ 33% 36,960Balance 463,040
If we assume that the rent pays for the mortgage
I am 40, self-employed, married, with no kids or pension. Joint income is €150K, and mortgage is €250K with 25 years left to run.
I have recently come into some money of €200K, and I'm interested in purchasing a property in Dublin that has come on the market.
Asking price is €390K, and I'm confident of renting it out for €2,200 a month. I am planning on investing €150K of my own money with the rest
secured from a buy to let 25 yr mortgage at 3.75%, costing approx. €1,300/month. I plan to sell at the end of the 25 years and put the
money into my pension.
Has anyone any opinion on this as an investment strategy or would I be better looking at funds/etfs/etc. as a long term investment?
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