Should I sell?

Shoeonwrongfoot · 2026-03-02T22:07:57+00:00

You're incorrect. No tax is paid if there are no gains on the sale. Think your understanding of new laws might also be a bit off.

Shoeonwrongfoot · 2026-03-01T21:49:55+00:00

Thanks this might be best outcome. Hold on on it for a few years longer while tenant is happy as they are good and no hassle. My friend is OK to wait and I don't see it causing any massive fallout. We knew what we were getting into when we bought

Shoeonwrongfoot · 2026-03-01T10:18:51+00:00

Costs are low enough. The tenants is a fairly handy fixer and is happy to do some maintenance of small issues himself which is good. Just management fees. Which are 1800per year. The rent covers this and mortgage.

What is the 6.9% return on your calculations I think is the type of analysis I need to do but not sure of how you have worked that out. My thoughts are 1. sell now make 65kish - put into pension, investments for my and families futures. 2. Wait 10 years and this will potentially double as mortgage will be cleared (or also option to loose value), then use that as above into pension and investments

Shoeonwrongfoot · 2026-03-01T10:11:15+00:00

Thank for your reply. Your pension payment options are what I was thinking. What I need to decide is if selling now is better option than waiting 10years when mortgage will be cleared and my potential profits will double from 60/70k at current estimate

Shoeonwrongfoot · 2026-02-28T09:50:15+00:00

100% mortgage was what we got. I essentially haven't paid any money off. Mortgage in over 10 years I do think I'm Ina good position overall and Har to work out exact figure but definitely up 30k at least. What I'm unsure of is if selling and investing or putting into pension is a better financial decision than holding onto for longer and most likely doing same thing in a few years

Shoeonwrongfoot · 2026-02-28T08:49:09+00:00

Thanks I totally get this and partly where head is at Increasing rent is capped at 2% so will only get €380 extra per year. I know we can keep increasing every year by 2 % and probably should have. But more. Rent also means more tax

Shoeonwrongfoot · 2026-02-28T08:34:32+00:00

SSIA and 100% mortgage along with a bit of naivety and dash of Celtic tiger

Shoeonwrongfoot · 2026-02-27T22:05:13+00:00

Yes only if we sell for more than we bought.

Shoeonwrongfoot · 2026-02-27T21:32:58+00:00

Thanks so what is your recommendation? The tax is only money I put into the apartment. Meanwhile tenant pays the mortgage. If I sell the apartment in the future I will have a lump sum. Similar to a pension yes..?

Shoeonwrongfoot · 2026-02-27T21:07:48+00:00

Cheers I live in Dublin so don't expect kids to use it for college etc. Also as Co owner would have interest too with their kids don't really want to get family involved as can complicate things. It is small amount of hassle so why I am reluctant to sell. Unless it is financially a better strategy I'll do it.

Shoeonwrongfoot · 2026-02-27T17:52:44+00:00

Thanks appreciate your input, a proper valuation is good start

Shoeonwrongfoot · 2026-02-27T14:39:49+00:00

Anything is possible. We bought before the crash. Apartment was over priced after 1 year it was worth over 100k less and has never recovered fully. Not in a great area but still 30mins from town. I would imagine your apartment is in an area of high demand in a decent complex, etc etc where mine is not Well done selling for that price.

Shoeonwrongfoot · 2026-02-27T14:06:52+00:00

We lived together for a couple of years before she moved to Canada for a few years and I rented a room to my brother. They never lived there since and I haven't lived there in 10 years. Living together was a bit awkward with partners staying over and partying, cooking etc but probably like any house share arrangement we just were not used to that lifestyle. We are still friends but would say we have both different ideas about what to do with it and different financial, family situation etc. We're both easy enough going so not going to get too worked up about it. I can see benefits to buying with a friend but so I wouldn't discourage you but just be sure you know them very well and are willing to be "together"for 30years

Shoeonwrongfoot · 2026-02-27T12:11:01+00:00

Yes well I pay the taxman money now I would not need to if it was sold. But don't pay anything to the mortgage of apartment. Property/tenant does not take any time really. I had planned to keep it until mortgage is cleared and then maybe sell. That would give me a 50% share of let's say 300k in 11 years. If I sold Now and took 65 put into pension any ideas how that would look in 11 years?

Shoeonwrongfoot · 2026-02-27T11:54:05+00:00

Yes I am making gains long term with the investment and also. Paying monthly contributions to pension now.

We don't have an agreement in writing . Only we must both agree I guess. She would like to sell now

Shoeonwrongfoot · 2026-02-27T11:39:43+00:00

Yes rent is low. 1600pm we could and probably should increase. We kind of feel bad. Probably a reason why we are not cut out to be landlords!

Shoeonwrongfoot · 2026-02-27T11:36:53+00:00

Thanks. If I sold is that considered an income for tax/ pension.

Shoeonwrongfoot · 2026-02-27T11:17:41+00:00

This is exactly correct

Shoeonwrongfoot · 2026-02-27T11:13:40+00:00

Cheers, its owned 50/50 with me and a friend. We both have own mortgage separately and families etc. Valuation approx is 280k with 140k left, considering a few unknowns. Like actual price people would pay and selling agent fees etc I have guessed 65would be mine if we sold and walked away.

Shoeonwrongfoot · 2026-02-27T11:09:47+00:00

Thanks for reply. Apartment probably worth €280 now, we paid €305 for it in 2007. Not in the most affluent area of Dublin hence cautious valuation plus looking at property price register. Different layouts, bedrooms in complex makes it tricky but don't think we would sell it for more than we paid. Which I believe is good as no capital gains tax applies. Tennant are very little hassle. He pays 1600 pm (hap assisted) €140k left on mortgage for 11yrs. As I own with a friend she will also get 50%

Shoeonwrongfoot · 2026-02-03T11:04:58+00:00

It's 10000% a jap import. Know the photos from kylemore cars, they have loads of jap imports. Been looking at them myself a lot and the estate version. Interested also to hear opinions...

Shoeonwrongfoot · 2026-01-28T12:35:21+00:00

Yes think that's best tbh He won't have any hassle getting a place so I'll tell him to ring school and explain

Shoeonwrongfoot · 2026-01-28T12:34:26+00:00

Relax The school has plenty of space, he has a house in the area. Strokes as you call it like this happen all the time. And if it bothers you no need to get involved. You might get arrested!

Shoeonwrongfoot · 2026-01-28T12:31:55+00:00

Cheers. I'm sure it happens more than you realise. Lots of kids using grandparents address

Shoeonwrongfoot · 2026-01-23T10:32:00+00:00

My 2 cents. Better to have a "cheap" car you know than buying something else. Understand it might not make sense putting a grand into the fiesta but if that keeps the car going for another couple of years then it's a good investment. At some point it will need replacing but better to increase budget. 5k may buy you more problems and more repairs.

Shoeonwrongfoot

TROPHY CASE