MyHome.ie Blog

According to Yates: Formula to buying a house

October 19, 2010 The MyHome Newsdesk by The MyHome Newsdesk
According to Yates: Formula to buying a house

According to Yates: Formula to buying a house

On this mornings breakfast show on Newstalk Ivan Yates gave out his formula on how to calculate

how much you should pay for a house. According to him….“If buying a house find out what houses in the same area in similar condition are renting for per month. Multiply that number by 12. Multiply that number by 20. DON’T Pay much higher than the number you get! For example:

Houses renting in area for €2000 per month

€2000 x 12 x 20 = €480,000 = Don’t pay much more than that"

(Ivan’s numbers are based on 5% return per year on your investment)

Advertisement

Have Your Say:

So Ivan Yates formula to buying a house: Mathematically sound or?

Helpful links

Find your home on MyHome Read more Articles Welcome to the Retrofit Hub Checkout our new Mortgages Hub
Tags:
Uncategorized house prices property Ireland
Share: Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Related articles

Woman using mortgage calculator

Mortgage calculator

Ready to start house hunting but need to know how much you'll be paying on your mortgage? Our Irish mortgage repayments calculator will get you the answers you're looking for.

Start now →

Powered by doddl logo