We have a very good mortage deal on current apartment, fixed 2.4% for another 25 years.
We will be doing a minimal deposit and buying the new apt. on mortage at fixed 4-6% for 20 years. The deposit amount depends on the terms that we get, but I'd rather take as much money as possible from the bank at 4-6%, and then refinance when the market conditions improve.
Cash flow is very good right now, we have well paid jobs, and we invest everything in ETFs and have a good cushion.
What to do with the current apt? I don't want to give up on the good deal, but on the other hand, I don't plan to use any of this money when we are 70 years old. It's a BIG apt. Also, I don't want to be a landlord. Should we still keep it as an investment? Maybe give it a go with renting and then decide after a couple of years?
Submitted October 09, 2023 at 06:11AM by EdCP https://ift.tt/HWwkrAt
