Hi,
My partner and I planning on leaving Ireland when we retire and travelling for a while before settling down somewhere that we can eat breakfast outside nine months of the year. We have no children.
I've been struggling with the decision whether to sell my house or rent it out.
It's in Dublin 6 and the mortgage will be about 12% of the value of the house when I retire. Looking at current rents, agency fees (as I'll be out of Ireland), maintenance, property tax, insurance and income tax it would seem to me that the only reason to rent would be in the hope of house price inflation. If I sold the house and invested the money in a fund (equities, bonds, cash) I'd probably make a bigger after tax/costs return than renting.
Also the latest Daft report shows asking prices for my type of house flat or falling last year.
Am I missing anything?
Thanks
My partner and I planning on leaving Ireland when we retire and travelling for a while before settling down somewhere that we can eat breakfast outside nine months of the year. We have no children.
I've been struggling with the decision whether to sell my house or rent it out.
It's in Dublin 6 and the mortgage will be about 12% of the value of the house when I retire. Looking at current rents, agency fees (as I'll be out of Ireland), maintenance, property tax, insurance and income tax it would seem to me that the only reason to rent would be in the hope of house price inflation. If I sold the house and invested the money in a fund (equities, bonds, cash) I'd probably make a bigger after tax/costs return than renting.
Also the latest Daft report shows asking prices for my type of house flat or falling last year.
Am I missing anything?
Thanks