galway_blow_in
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Hi all
Seeking views on the following choice?
My fiancé and I have two small children under three, we have a combined income of circa 75 k before tax though some of my anual income is tax free ( long term lease of farm land ), I own one residential property which is in a long term lease with Limerick city Council, one commercial property let to an electrical wholesaler in the mid West and thirty acres of farm land,we live in a five bed bungalow 30 km from Galway City, we are completely debt free.
Anyway, my future wife worked in Limerick for ten years prior to meeting me, her job situation would improve were we to move to Limerick and it would not create issues for me work wise.
We have 100k in savings so would require a 150 k mortgage, alternatively we could sell our home in Galway and not need a mortgage?
House in Galway worth around 900 per month to let but apart from managing tenants etc along with maintenance, would tax on income take the shine off what might on the face of it look like one house paying for another house ?
The biggest drawback to selling house in Galway is its at the end of a cul de sac, one km from main road.
Seeking views on the following choice?
My fiancé and I have two small children under three, we have a combined income of circa 75 k before tax though some of my anual income is tax free ( long term lease of farm land ), I own one residential property which is in a long term lease with Limerick city Council, one commercial property let to an electrical wholesaler in the mid West and thirty acres of farm land,we live in a five bed bungalow 30 km from Galway City, we are completely debt free.
Anyway, my future wife worked in Limerick for ten years prior to meeting me, her job situation would improve were we to move to Limerick and it would not create issues for me work wise.
We have 100k in savings so would require a 150 k mortgage, alternatively we could sell our home in Galway and not need a mortgage?
House in Galway worth around 900 per month to let but apart from managing tenants etc along with maintenance, would tax on income take the shine off what might on the face of it look like one house paying for another house ?
The biggest drawback to selling house in Galway is its at the end of a cul de sac, one km from main road.
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