inittowinit
Registered User
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- 5
Don't beat yourself up over it. Seems you have a 1.2% tracker.I'm selling a house, for the first time. My peak-of-the-boom house will probably just about come close to what I paid for it with luck. I have been advised by a friend to have at least 2 or maybe 3 estate agents as that will help maximise the price. I would have thought that having 1 estate agent would have been normal. Any thoughts on this? Is there a danger that a single estate agent might not pass on bids so as to keep the property for a preferred client? I know these are noob questions, thanks for the patience!
Superb post.Don't beat yourself up over it. Seems you have a 1.2% tracker.
If your mortgage was 400k in 2007 your total interest paid for the past 15 year would have been under €75,000.
If you waited and bought in 2011 and only needed a 300,000 mortgage, you would have paid min 60k in rent for the 4 years and also about €140,000 in interest based on PTSB average of 3.8% since 2011.
In above scenario the 2007 peak of market purchase was cheaper than the 2011 purchase @ 25% price drop. It even worked out better than a 30% price drop due to the tracker and how ptsb and others charged handsomely for those on fixed and variable rates from 2011 - 2020 (and ptsb still charge existing customers handsomely)
So you did better on your purchase than you think.
I think he forgot a disclaimer such as "figures may not be right"Superb post.
true, but they won't be too far off. I did the actual figures for someone who thought they made a big error buying in 2006 and 1% tracker. She paid 240k (Clondalkin), price dropped to 150k in 2011. Yet the 240k she paid was not far off the 150k in 2011. A combination of rent she would have paid (at a low estimate), interest relief and tracker compared to standard variable and fixed rates from 2011 showed she made the correct decision to buy in 2006.I think he forgot a disclaimer such as "figures may not be right"
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