dingdong22
Registered User
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- 23
I have an investment property in Belfast - 2 bedroom terrace.
I was thinking of selling it as capital appreciation has been poor on it. My dilemma is the cost of CGT and whether it's just a better return to keep and renting it. I am 53 ( 3 kids) have other investments and mortgages (at interest rates of 2-3%). I have 50,000 @2.3%int mortgage on my own family home in Dublin. Don't need equity for day-to-day living.
House bought for : 50,000 stg ( mid 90s)
If I sell would get 110,000 stgs , current rent is 475 stg ( after costs deducted per month)
Mortgage -30,000 stg I had remortgaged it for other things over the years.
Equity =80,000 approx .
My simple sums makes me feel i would make less per year if invested the (80,000 - CGT) @4% per anum (3200 ) v renting ( 475 x 12 = 5700 )
Any advice ?
I was thinking of selling it as capital appreciation has been poor on it. My dilemma is the cost of CGT and whether it's just a better return to keep and renting it. I am 53 ( 3 kids) have other investments and mortgages (at interest rates of 2-3%). I have 50,000 @2.3%int mortgage on my own family home in Dublin. Don't need equity for day-to-day living.
House bought for : 50,000 stg ( mid 90s)
If I sell would get 110,000 stgs , current rent is 475 stg ( after costs deducted per month)
Mortgage -30,000 stg I had remortgaged it for other things over the years.
Equity =80,000 approx .
My simple sums makes me feel i would make less per year if invested the (80,000 - CGT) @4% per anum (3200 ) v renting ( 475 x 12 = 5700 )
Any advice ?