Hi
My partner and I are wanting to buy a house together in Sydney. I own a property in Ireland (only 1/3 left to pay off mortgage) and he has a unit in eastern sydney.
We don't know what the best thing to do is. Should we sell all and just buy one? Should we keep one property or possibly the two? Or should we take advanage of the low interests rates in europe and remortgage from over there??
We are totally confused and don't know who to speak to who would be familiar with both markets..
Can anyone advise?
Why sell at all? – maybe for tax reasons?
I would suggest you sit down with some paper or a spreadsheet and work out the financial position of all scenarios. Then factor in the non financial considerations and then decide.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
There are a lot of variables(personal details) that must be considered, I suggest you visit your local bank or like. From an investors point of view you are in a very good position. If you can get some TLC from a reputable person you would be doing yourself no harm. Further, speak to 3/4 banks, and talk to a broker to get an overall perspective.
If you look at this site alone, you will see how many advisers or brokers have varying opinions, of which, many are correct. Your job is to select what view suits your personality.
Can’t really comment about the Irish market however sydneys eastern suburbs is blue chip real estate and should only be sold if absolutely necessary.
As mentioned above, best to talk to some brokers and reputable agents to get a good snap shot of your future endeavors.
A little research goes along way. If done properly, your financial future will flourish especially given your current situation.
Feel free to private message me if you want some names of reputable people is the east. Been living and working here in property for 30 plus years.
Cheerio and good luck.
With the European market being the way it is at the moment (especially in Ireland, Italy and Greece), is it wise to sell in a crash situation rather than in a strong market? I would hold onto both, but get several points of professional advice regarding accessing any equity in the Sydney unit or remortgaging overseas.
Good luck!Oztorro19 wrote:Can't really comment about the Irish market however sydneys eastern suburbs is blue chip real estate and should only be sold if absolutely necessary. As mentioned above, best to talk to some brokers and reputable agents to get a good snap shot of your future endeavors. A little research goes along way. If done properly, your financial future will flourish especially given your current situation. Feel free to private message me if you want some names of reputable people is the east. Been living and working here in property for 30 plus years. Cheerio and good luck.I would like to get some referrals on good agents in Eastern Suburbs. Can you help?
keep your property in ireland. lots of equity there and from what is reported the market is very depressed there at present.
reports of so called ghost towns full of new property that cannot be sold or leased.
by keeping the irish property it keeps your options open for lots of reasons.
how much equity does your partner have? if you can afford it keep both and purchase 1 together if thats what you want to do.
only you know your personal situation.
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