You might be forced to rent one of your spare rooms to be able to afford the mortgage or you might use it to build your financial advantage. Renting a room in Ireland can be a fantastic opportunity to drastically improve your finances, because it offsets your housing costs and provides great tax benefits due to rent a room relief. If you are still on the fence about doing this, you might read more about the benefits of this approach in my previous post....
Buying is cheaper than renting Rents in Dublin are quite expensive, especially in South Dublin and close to the city center and they keep increasing. There is a significant difference between what the rents were in 2015 and are now even with the rent control. Renting isn’t necessarily bad - it has its advantages, e.g. you don’t have to worry about the surprise repair costs, you can move easily. But financially in Ireland it’s not the best bet....
Welcome to the second post in the series of evaluating real estate deals. You can see the previous post that discusses what are the sources of return here.
Today we will learn how to know if the investment is a good investment looking at its returns. This is not a comprehensive ‘how to analyze deals’ post. People could write whole books on this topic. Instead we will take a look at some basics of investment returns....
Real estate investments in Ireland need significant capital. In general you can get a loan with a 20% down payment (or 10% in certain cases) when buying a property for yourself to live in. Investment property loans (Buy To Let) start with 30% down payments. It’s a big deal! Before you invest, you should check if it’s worth it. You will be locking down a lot of your capital. You could invest it in other ways, for example in a different real estate deal, equities and so on....
Investing in Ireland is hard! I’ve been diving into the topics of investments for Irish residents for quite a while and even though I wished that everything was as simple as in USA, there are some good options here in Ireland.
The fact that things are harder, doesn’t mean that you should give up. But you need to do your research. I’m starting this blog, because I’ve been struggling and learning for last couple years and I want to share and continue sharing with you what I’m learning....