Hello folks,
My first post.. looking for a bit of advice/opinions please..
Myself and my husband bought our house in Dublin in 2007 for 472K and put a lot of money into it. it is a 3 bed terrace. We have had 3 children since and would like to move and have wanted to for some time. The difficulties (like numerous others) are:
-negative equity. Last year the house was valued at 290. Two estate agents valued it yesterday for 370k approx. Our mortgage is at 380K so we're getting there!
- pay cuts in salary coupled with 3 babies has meant a radical change in lifestyle and things are tight. We both work fulltime and our mortgage is 2K a month. We save very little and in fact have eaten into our savings when things crop up with cars, insurance etc.
- I am 42 so the length of any mortgage we get is shortened(hence more expensive every month).
- our oldest child is starting school in Sept so ideally would like to move before then.
-we have found a place to rent for €1300 a month where we would like to ideally live. It is a bargain.
- So question is (bearing above in mind!) should we sell and rent and save for a few years (both getting older) or do we just try and buy now? With houseprices going as they are we are quickly being priced out of the market..then there is 20% deposit malarkey..
Thanks for reading. Any views much appreciate. Our heads are melted trying to make a decision!
My first post.. looking for a bit of advice/opinions please..
Myself and my husband bought our house in Dublin in 2007 for 472K and put a lot of money into it. it is a 3 bed terrace. We have had 3 children since and would like to move and have wanted to for some time. The difficulties (like numerous others) are:
-negative equity. Last year the house was valued at 290. Two estate agents valued it yesterday for 370k approx. Our mortgage is at 380K so we're getting there!
- pay cuts in salary coupled with 3 babies has meant a radical change in lifestyle and things are tight. We both work fulltime and our mortgage is 2K a month. We save very little and in fact have eaten into our savings when things crop up with cars, insurance etc.
- I am 42 so the length of any mortgage we get is shortened(hence more expensive every month).
- our oldest child is starting school in Sept so ideally would like to move before then.
-we have found a place to rent for €1300 a month where we would like to ideally live. It is a bargain.
- So question is (bearing above in mind!) should we sell and rent and save for a few years (both getting older) or do we just try and buy now? With houseprices going as they are we are quickly being priced out of the market..then there is 20% deposit malarkey..
Thanks for reading. Any views much appreciate. Our heads are melted trying to make a decision!