burger1979
Registered User
- Messages
- 142
our hand is kinda being forced a bit as when we went to see the house on saturday the agent also had 2 investors looking to buy the property also. we overheard the investors offering €480K for it and the agent saying that that would be rejected.
2. if were to pay €2500.99 p/m do people think we would be stretching ourselves too much?
Probably. It's cheaper to rent than to pay a mortgage. Why not save for a bit longer and build up a bit more of a deposit? If house prices fall, the same house will be cheaper later. If house prices rise, it will cost you more to get on the housing ladder, but you will probably have higher incomes and higher savings.
Brendan
Brendan, you used to advise young people to go interest only in the early years of their mortgage and increase their payments later on when their incomes had increased. Are you rowing back from that position given that it only made sense in a rising market or just in this particular case given the nature of the OPs employment type?perhaps you could consider a bank that is willing to go Interest only for the 1st year to give you a chance to get on your feet.
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