Theo said:Trouble is, I would only know that for sure the day I sold it.
dodo said:Where did u buy
Look I said here before, you are putting 300E a month which is 3600 a year over 5 yrs is say 18K even if rates go up say you pay 25K which u say u can afford, alone this year houses are said to go up 15% , so even take a very calm increase in houses say 5 % a year for 5 years with compound interest your house would be worth around 80K plus more than now take away tax and the 25 K spent still make you a nice increase, but if houses continue as expected you are talking over an 150K increase and then your deductions which is what I expect to happen, there is no investment houses now bought with 90% mortgage or more that cover the payments each month, but people still buy to let because they believe houses will still go up, they expect Dublin alone to have more than 1 million more people living here not sure by when I think it was by 2025, people are told all the time that they have to add to their pensions and so on, Think of yours 300 a month as part of you future,
Theo said:There are loads of other properties if you are patient and take the time to look that don't give you this risk. But, then, most people want everything now and are not prepared to put in the effort or time to find the right investment. This is the problem.
Centless said:Is this not the idea of risk? I might be new to investing in property but am not naive. If everyone took this approach to investing in property there would be a far less vibrant construction sector.
dodo said:look as I said above I think it is a good idea galway along with Dublin and Cork will always be strong
Purple said:You should also remember that the primary attraction for many people in property investment is that the rent can be offset against mortgage interest. I am open to correction but AFAIK if you borrow partially against your PPR you cannot offset that portion of the interest.
AFAIK if you borrow partially against your PPR you cannot offset that portion of the interest.
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