Buying Versus Renting

An amazing statistic for you. You can save €395 p.m. by buying this three bedroomed home rather than renting in the same development.

At present, we in Global Properties are offering for sale a three bedroomed semi-detached home minutes from shops, bars, restaurants, the South Link, public transport, the Regional Park, etc. at 77 An Caislean in Ballincollig. It is in turnkey condition, so ready to move immediately.

I was looking at www.daft.ie last night and there was another three bedroomed house available in this development, this time for rent at €1,400 per month. It got me thinking, would somebody be better off renting or buying.

So here are the stats;

We are selling this three bed unit with an asking price of €265,000.

Assuming that a purchaser gets 90% finance (€238,500) over 30 years, the monthly mortgage payments are as low as €1,005.53 for an EBS mortgage.

The financials:                                                                                    Monthly:

Rent for three bed house in An Caislean                                             €1,400 (source: daft.ie)

Monthly mortgage repayments                                                            €1,005

Savings when buying over renting                                                       €395

Wow, there you have it. If you can get a mortgage, you can save €395 per month, by buying from Global Properties Ltd. in An Caislean, rather than renting in the same development.

While owning a property does not come without costs, it has many advantages also.

Note: Global Properties are not financial advisors/ mortgage brokers, and are just commenting on same and not giving financial advice. Mortgage rate is via EBS. Contact Daniel.daly@mail.ebs.ie Or 021-4873610 for advice on the best mortgage for you.