pwurple Registered User
What's the mortgage repayment? You can write off 75% of the mortgage interest also.
I'd think 840 a year for repairs and insurance is low, based on my own experience.
Appreciate the advice. I need to look into that side of things further. Is, as mentioned earlier, looking at what size of a pension I would need to get the equivalent monthly income from the pension that I get at the moment in rental income (and factoring in the lump sum that I can draw down) a good starting point? Sorry if this seems a stupid question!
At the moment mortgage repayments are 1020. The insurance and repairs figure I've given could be on the low side alright, it was an estimate. I haven't had major bills really, but this year already there have been some larger repair bills. I suppose this is due to the apartment getting to the age where things start to go wrong
You get €350 per month in net income from owning the property (this may change in retirement, as you may pay tax at the lower rate). You could probably match this amount in an annuity if you had a pension pot of about €100k (today's value, need to adjust for inflation), and that's ignoring the lump sum.