Thinking of selling overseas apt and buying motorhome for our holiday needs.

P

PATMAC

Registered User
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43
Age: 50
Annual gross income from employment: 80k
Rough estimate of value of home 150K plus apartment 60k
Amount outstanding on mortgage:55K 4 and a half years left
Interest rate:Tracker 2.2% ,
Savings and investments: 30k savings


Hi I would be most grateful for a little direction if possible?
We (myself and my wife, no kids) are very happy where we live but we are making no money from our overseas property which will stop being rented in a month's time (the whole cost of the apartment was €93k after fees and furnishings, estimated selling price €60k after fees). So we are thinking of selling it and clearing some of our mortgage and buying a motorhome (€40k approx) for all our holiday needs over the coming years. We feel that there is no future in the overseas apartment.
Any advice or alternative investments would be appreciated. Thanks
 
Where is the apartment, i.e. country/region of country, etc. You mean a motorhome as in like the American style or a mobile home, i.e. the generally stationary type?
 
€40K to buy the motorhome, then you have the annual costs ie.insurance, tax, fuel, service costs, pitch fees, tolls, ferries abroad? Hassle of driving, bad roads in Ireland, inconsiderate drivers. If that's the sort of thing you like then ok.
I think you could probably afford to get cheap flights and rent a villa 3 or 4 times a year in a different country for that sort of outlay. happy camping
 
dont buy a motorhome unless you've done a few overseas holidays in one -and then decide whether to continue occasional renting or buying one.
 
Pretty hooked on the idea of a motor home but will definitely rent one first, pretty convinced the apartment is a dead duck so would it be worth investing in say a cheap apartment in Ireland, if one came up in say a NAMA based fire sale?
 
Best decision we made was purchasing our first Motorhome 10 years ago. We had been considering a second property but figured we'd used Motorhome more and we'd get to see more varied places.
Annual costs (insurance,tax, maintenance) are reasonable and certainly we couldn't have afforded weekends away and 3 week family holidays throughout Europe without one.
There are pros and cons but but the big winner for me is the ability to bring what you like on hols (kayaks, bikes and sat dish etc) stay for as long as you like and follow the weather if necessary.
€40k (and a lot less)will buy you a lot of Motorhome these days, talk to people who have them and consider a campsite holiday in Europe first to decide if the lifestyle suits you.
 
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