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Showing posts from August, 2020

Accelerate your financial independence with renting a room in Ireland

Buying is cheaper than renting Rents in Dublin are quite expensive, especially in South Dublin and close to the city center and they keep increasing. There is a significant difference between what the rents were in 2015 and are now even with the rent control. Renting isn't necessarily bad - it has its advantages, e.g. you don't have to worry about the surprise repair costs, you can move easily. But financially in Ireland it's not the best bet. Compared to rents, the house prices are not that high. In 2018 my partner and I decided to buy an apartment in Dublin. We bought a two bedroom apartment close to Grand Canal Dock area. Apartments like that would rent for something like 2000 per month (in a range 1800-2200). We paid 385000 for the apartment, which is quite a lot.  But when you take a look at the mortgage - it actually can be quite cheaper than rent. 30 year mortgage would cost us ~1460 Euro a month which is more than 500 Euro cheaper than rent. There are additional cos