Moving closer to Work - is it possible ??

Hi Appreciate any help or advice provided here.

Ok Situation is that I have been thinking of moving closer to work / family / friends etc.. basically where I grew up.
As its not really working out where I am at the momment.
I had to move an hour away to buy my own house a few years ago and have been commuting since. As I couldnt afford to buy nearer home.
I would like to move to Bray/Shankill area.

Currently my own home would fetch approx €265000
The Mortgage is approx €105,000 (this includes a top up)

Im selling another property which should give me €35k cash net
I have the SSIA due in March = €20k

Approx €10k in shares

Possibility of a further €10-15k if INBS is sold

I earn approx €35k gross

No Loans, no car loan/ no Credit card loan etc.

I could possibly lay my hands on another €20 - €35k through family.. - but prefer not too.

Basically I would like a house (3 bed) in a nice area and am wondering just how much or what price bracket I could afford??

Basically my current mortgage is around the €480pm,
Doubling my mortgage would have ~ zero affect on me as im paying approx €200 in petrol at the moment and €254 in SSIA which is drawing to a close - these would just be absorbed in a new mortgage (which I dont mind - as it would give me more time less car travel)

Thanks K.

Your borrowing capacity, with no loans and with room rental, is €185,000 so - with your equity and savings added to this - will this give you enough to buy closer to home? The repayments would be €858 gross excluding insurances at 4.5% over 35 years. Don't forget to factor in Stamp Duty on 2nd hand properties.

Sarah

www.rea.ie