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Buying a house in Athlone.. is it a good decision?

  • 28-06-2014 4:41pm
    #1
    Meritor
    Registered Users, Registered Users 2 Posts: 39 ✭


    I am going to move to Athlone (Westmeath) next month with my wife. My parents may join us later. I was just exploring different aspects of accommodation in the town.
    I learnt that the rent for 2 bhk apartment will be 550 to 800 Euro per month. If I purchase a house it will cost 55,000 to 75,000 for an average 2 bed apartment.
    Now considering loan for 5 years the installment per month goes 1,000 Euro approximately.
    I am not sure about other maintenance charges and taxes applicable for owned house.
    I am also not sure about what will the property value after 5 years.. will it increase or decrease.
    So.. is it wise decision to buy own house or it is better to stay in leased house?


Comments

  • #2
    Phil_Lives
    Closed Accounts Posts: 228 ✭✭Phil_Lives


    any house you buy for 55k in Athlone will either be below the high watermark or be in an estate which is crawling with Transitory Junkie Zombies from Hell and a 2 bed apartment in Athlone should only cost about 450 per month to rent.


  • #3
    Meritor
    Registered Users, Registered Users 2 Posts: 39 ✭Meritor


    Thank you very much Phil_Lives for the information.

    The data I collected is from daft.ie
    There was a 2 bed aprtmt someone had put for 550 and same was for sale for 55k

    I think I have got wrong data... I just checked only on one website..
    If its just 450 bucks for 2 bed aprtmt I'll not think of buying a home at least for next few years.

    Can you give me any lead where and how to search aprtmt for rent in Athlone.

    And thanks again for your valuable input.


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