I recently spoke to a credit consultant that implied that if I’m interested in a property and it’s rent price equals the monthly loan payment, it makes financial sense to buy it because if at some point I want to move out, I could sell it to another buyer for a higher price and end up with a large sum of money.
I think it makes sense even if the real estate market takes a dive. If I was renting that whole time I’d end up with nothing in the event of moving out. Selling a property would at least generate some cash for me.
Do you agree?
The loan to repay would be upwards of €500k but the monthly payment would be something very affordable.
Loan details:
Total to repay: €500+k
Duration: 30 years (until I’m 65)
Monthly repayment: €2000 (affordable for my budget and equals rent of equivalent property)
I think it makes sense even if the real estate market takes a dive. If I was renting that whole time I’d end up with nothing in the event of moving out. Selling a property would at least generate some cash for me.
Do you agree?
The loan to repay would be upwards of €500k but the monthly payment would be something very affordable.
Loan details:
Total to repay: €500+k
Duration: 30 years (until I’m 65)
Monthly repayment: €2000 (affordable for my budget and equals rent of equivalent property)