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Buying an investment

  • 23-04-2013 11:35am
    #1
    Laurs_civic
    Registered Users, Registered Users 2 Posts: 136 ✭✭


    Hi,

    I am looking for advice on buying a apartment I tramore . Would be looking to rent it out most of the time.

    Can anyone just tell me what Costs there is with buying an apartment and also pros and cons of renting it out???

    Thank you


Comments

  • #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Rather than listing the pros and cons of becoming a landlord, and letting out a property- I'd suggest you read this forum for the many stories people have of their own experiences.

    One question- are you in the market for holiday lets (given, it is Tramore) or are you looking for good long term tenants. They are totally different markets, with totally different pros and cons.


  • #3
    Bren157
    Registered Users, Registered Users 2 Posts: 44 ✭Bren157


    Banks very slow to lend for apartments. You will probably need 40+% deposit, costs of furniture, legal, valuation, engineer, and then property insurance and perhaps life assurance on the loan. You then need to consider cost of property tax, registration of a tenancy, mgt fees, etc. All in all, rental property is not haf as attractive financially once you drill down. Good luck with it...


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