PPR is in a nice estate in an ok suburb of Dublin, bought in 2013 with a modest enough mortgage. Don’t see moving as an option until kids finish school, youngest just finished junior infants.
“Investment Property” 2 bed apartment in a large development, in “” because it’s a former PPR which we outgrew with 3 kids. Selling 5 years ago would have crystallised a huge loss. It’s rented at a modest rent by current standards, same tenants since 2013 but they’re moving on. On a tracker at +0.85 and after tax is just about washing its face.
The outstanding balance of both mortgages is ~2.3x income, not including rental income. Combined monthly mortgage payments are less than 25% of take home pay taken after pension contributions and again excluding rental income. Savings stand at about 30% of the outstanding balances on the combined mortgages.
All the indicators would suggest a very manageable level of debt but running the figures on selling the apartment now and using the proceeds along with savings to clear the balance on the PPR would leave us mortgage free before I turn 41, it’s very tempting.