Hi all,
I'm looking for financial advice. My situation is:
I'm recently divorced, i have 1 daughter ( 4.5 years). The childcare costs are curently aprox €240/ month. The father is suposed to pay 500€/ month towards her, but he's not doing it.
I earn 83k gross with a net of 57k and i have 55k in savings. I have no dept (other than the mortgage), loans or credit card. I don't contribute towards pension and i dont have private healthcare insurance.
I'm generaly good with money, i managed to save while having high childcare costs when my daughter was younger and paying for a divorce.
The house, solely on my name is worth aprox 450k ( remaining mortgage aprox 175k). Currently finishing up on a 5 year fixed term @ 3%, and overpaid my mortgage by €90/ month for the last 5 years ( that's the max the bank allowed me to overpay by). My current mortgage payments are 1083/ month.
I'm waiting to see how much the interest will go up by.
The question: i was contemplating to:
1. Buy an apartment for rental in Ireland. This would cost aprox 190k in my area and could rent out for aprox 1300€/ month. Probably this is high risk due to the curent property prices
2. Pay a lump sum of my mortgage once im out of fixed term
3. Buy an apartament abroad for rental. I could get something for 56k and that would give me a monthly return of €250 to €300.
I'm looking for financial advice. My situation is:
I'm recently divorced, i have 1 daughter ( 4.5 years). The childcare costs are curently aprox €240/ month. The father is suposed to pay 500€/ month towards her, but he's not doing it.
I earn 83k gross with a net of 57k and i have 55k in savings. I have no dept (other than the mortgage), loans or credit card. I don't contribute towards pension and i dont have private healthcare insurance.
I'm generaly good with money, i managed to save while having high childcare costs when my daughter was younger and paying for a divorce.
The house, solely on my name is worth aprox 450k ( remaining mortgage aprox 175k). Currently finishing up on a 5 year fixed term @ 3%, and overpaid my mortgage by €90/ month for the last 5 years ( that's the max the bank allowed me to overpay by). My current mortgage payments are 1083/ month.
I'm waiting to see how much the interest will go up by.
The question: i was contemplating to:
1. Buy an apartment for rental in Ireland. This would cost aprox 190k in my area and could rent out for aprox 1300€/ month. Probably this is high risk due to the curent property prices
2. Pay a lump sum of my mortgage once im out of fixed term
3. Buy an apartament abroad for rental. I could get something for 56k and that would give me a monthly return of €250 to €300.