B
bishop1
Guest
Is it a wise idea to sell my secondary property ,to pay off my primary residence mortgage?
My secondary property has a mortgage of around 100,000 yet to pay and is worth 300,000. This has a rental income of 700 Euro/month.
My primary residence has a mortage of around 250,000 and is worth ~650,000 at current market prices.
If I sold the secondary residence and used the money after tax to pay off the primary mortgage, I would be left with a much smaller mortgage and more financial freedom. I have no financial pressure paying both mortgages at the moment, but I would like to make the wisest decision given current house prices? Any advice is appreciated!
My secondary property has a mortgage of around 100,000 yet to pay and is worth 300,000. This has a rental income of 700 Euro/month.
My primary residence has a mortage of around 250,000 and is worth ~650,000 at current market prices.
If I sold the secondary residence and used the money after tax to pay off the primary mortgage, I would be left with a much smaller mortgage and more financial freedom. I have no financial pressure paying both mortgages at the moment, but I would like to make the wisest decision given current house prices? Any advice is appreciated!