OK, but in the mean time, you need to pay for this appartment every month and this may generate cash flow problems...the appreciation is long term and you will only get this money when you sell..rkks said:We(my husband, I am currently unemployed) want to get into property investment for the fact that we want to make money, not rental income but gain on the appreciation value in the long term.
The questions in my original post were mainly for you to gather & analyse the figures, not for merkks said:Current Mortgage = 213500 (for the house we live in)
Value of the house = approx. 300000
Savings = 23000
Clane 2 bed apartment = 236000 (the one we want to buy)
Husband's income = approx 50,000/annum
1. will we be able to get an investment mortgage?
This is really you to decide.rkks said:2. Are we doing the right thing? How much risk is involved?
well, if anybody knew....rkks said:I am pretty nervous at this stage because we are not sure towards which direction the property market is headed.
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