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Dead cats bouncy castles etc

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  • 16-10-2007 1:28pm
    #1
    ntlbell
    Registered Users Posts: 16,288 ✭✭✭✭


    I understand it's very hard to tell and people here are not mind readers but I was hoping to get a few opinion's.

    We're currently finishing off our mortgage on our first home, it's a two bedroom around D7 we're both close to our jobs and are happy enough in the area.

    We're at at the age where we're considering starting a family and although I wouldn't have an issue bringing kids up where we live I wouldn't mind a few extra bedrooms.

    Ideally what I would like to do is travel the world for the next two years or so before we have kids and come back and try and get into a bigger house.

    So really what I'm looking for is some advice.

    Would it best to sell the current home now? or rent it out for the two years or so financing the trip. We're lucky in the fact our repayment's are very comfortable and we haven't long to go on the repayment's so I really wouldn't like to have to take out a large mortgage.

    I would like to stay in Dublin but I would consider moving outside.

    what are peoples opinion on what the state of play might be like in two or three years time?


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    #2
    dame
    Closed Accounts Posts: 1,623 ✭✭✭dame


    I'm no expert on this but if it was me I'd hold onto it and rent it out. You've said the repayments are comfortable enough for you to handle (so I'm presuming you've owned the house for a good few years and are in no danger of going into negative equity unless there's an absolutely massive drop? (you said you were finishing off the mortgage)) and it would be nice to now that you have a home to come home to. That way whatever the prices have done when you get back you'll still have a home of your own. You can keep renting it and just buy another bigger one if the prices have gone down. If the prices have stayed about the same or icreased slightly then you can trade up. Or, you could extend it a bit if you can't sell it for some reason in a few years. That's just my opinion though.


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