Opinions needed

Property

Hi all, 28 yr old single female looking for some opinions if I’m doing the right thing.

My family home is being sold soon. Due to this I’ve saved roughly half of my net income for past 2 years as I won’t be able to move home and save for a deposit when it’s the right time to buy.

I recently went sale agreed on a 1 bed apartment in Dublin. It’s nice, in good condition and has its own front door, low management fees etc. and my mortgage will be very low - cheaper than renting a room in Dublin. The only thing is that the apartment isn’t in an area I can see myself living for more than a year or so. I’m thinking of renting it out after one year and paying rent somewhere I would prefer to live - I can somewhat justify crazy rent if I’m at least building equity in the apartment I own.

There is also the chance that I will really like the area and live there myself for a longer period. It would also be something to fall back on if I weren’t able to find somewhere to rent. In maybe 3-5 years I may consider selling it on if it’s the right time to sell. Hopefully by then my salary will have increased a fairly significant amount too.

This all seemed like a good idea but I’m overthinking it now and can’t stop thinking of what could go wrong - am I mad to use my FTB somewhere I don’t see myself living for a year atm etc? Should I just rent somewhere now & keep my savings for when I meet someone and/or my salary increases?

Any opinions welcome!

Posted Apr 8, 2025, 9:08 PM UTC

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