Hi folks, I just bought a 3 bedroom house (comes with a car parking) with a 100% mortgage @ 2.39%. The fixed monthly expenses would be 1400 (EMI) + 200 (building maintenance). 1 room is furnished (bed + wardrobe) and another is semi furnished (mattress+wardrobe). So my questions are:
- I plan to furnish the house and rent it out.
- Should I buy new furniture from IKEA (or some place similar) or second hand one? One thing to note is that I've a small inclination to furnish it all from new stuff for unknown reasons (don't know my brain's psychology).
- Should I rent out to AirBnb (Amsterdam is the city, house is ~8km/20min by metro from City Center) or a long term tenant?
- If I get long term tenants, what's better, finding tenants from my workplace or outside?
- Whenever I get extra money, should I pay off the principal or invest/save it to get interest. The points to note are:
- When principal drops to 90%, the interest rate will be 1.99%. 80% - 1.94%. 70% - 1.89%. 55% - 1.79%.
- I'm from India and the saving account interest rate there is 6% for long term savings. So I think I'll be getting more return there than paying off my principal.
Thanks a lot!
Submitted May 21, 2018 at 04:48AM by prvashisht https://ift.tt/2GD081A
