thanks @mustang01 I really appreciate it. Very difficult sitiuation but things are better now. I hope you are doing OK too. We are looking at local Youthreach which is apparently brilliant.
Moneymakeover Nearly eight years later! Advice welcome
- Thread starter Winkie
- Start date
It had to be valued for the new property tax bands. Because of location it should be much more but because of it being on seperate deeds etc the value is reduced. I could not actually sell it now though - nobody would buy it - auctioneer said the same. Great location and ouse but value impaired because of attachment.
My wife will inherit parents home.
If joined back up in deeds with their house it would be worth a lot more. No idea tho.
2k a month is great but the risk is also high.
"It was rented through RPZ and due to tenancies continuing I was never able to raise the rent to market rate. The most I got was €1100 a month but could not gpo above that. It has been empty a year so I could go to market now at 2k but themn theres the issues with bad tenants etc.
I could use 3k small gifts to refund him rent."
Isn't the break for going to market rate 2 years? If it was rented through RPZ at 1100/monthly, you could rent it to your son immediately at this price? Total 13,200 rent and if possible he could also rent a room out.
If you wanted to reduce the rent your son is paying you could gift back the 3k x 2 gift allowance annually (although he would be getting a good deal at that rate, especially if he was able to rent a room to someone else).
Utilities would be paid and you would have some income from rent, and the building would be kept warm & require less maintenance.
It seems an easier option than any of the others.
I could use 3k small gifts to refund him rent."
Isn't the break for going to market rate 2 years? If it was rented through RPZ at 1100/monthly, you could rent it to your son immediately at this price? Total 13,200 rent and if possible he could also rent a room out.
If you wanted to reduce the rent your son is paying you could gift back the 3k x 2 gift allowance annually (although he would be getting a good deal at that rate, especially if he was able to rent a room to someone else).
Utilities would be paid and you would have some income from rent, and the building would be kept warm & require less maintenance.
It seems an easier option than any of the others.
The rent you'd get if you let to a tenant would be around 2k gross. Keep in mind though that you will lose around 25% of that in tax (income tax at 20% plus USC and PRSI) plus you will have to factor in the annual costs of rental on top of that; white goods breaking down/having to be replaced, wear and tear and so on an so forth. You'll also have to put money away every year as carpets will need to be replaced etc. Net of everything, you'll probably be coming out with 1200 or 1300 per month.
With health issues, it is a big risk for not a huge amount of money if anything goes wrong.
Plus as the house is unsaleable, you can never get the tenant out because you want to sell
With health issues, it is a big risk for not a huge amount of money if anything goes wrong.
Plus as the house is unsaleable, you can never get the tenant out because you want to sell
Not all apprenticeships are in construction. I did an engineering trade and it is impossible to do it now.
Bit like Lawyers and Doctors then.
You mean this?
Government to restrict short-term lets in larger towns
The Government intends to restrict short-term lets in towns with a population of more than 20,000.
No it’s this row back
www.irishtimes.com
The power of the Healy Rays and Kerry tourism is a mighty thing…
Short-term let restrictions will only apply to towns with populations over 20,000 after Government rowback
Minister for Tourism says opposition from Norma Foley and Michael Healy-Rae not the reason for change of approach
The power of the Healy Rays and Kerry tourism is a mighty thing…