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It’s public news April 4, 2008

Posted by Laura in Uncategorized.
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On Monday the formal planning application (all 8 copies of it) for change of use from residential to commercial for the apartment that we bought in February is going into the local planning office.

What will happen if the planning goes through:

  • M will move his business into the apartment & we will be owners rather than tenants
  • If we keep paying the amount that M is paying in rent we will exceed the mortgage payments (and therefore clear the mortgage earlier)
  • The cost of going to work for M will drop by about €2000
  • M will be able to shower before he comes home so when he opens the door he will be home
  • He will be able to walk to work if it is fine
  • The value of the property will more than double
  • The potential commercial rental income for the apartment will be more than 5 times that of the residential rental income – can you spell PENSION!

M had a very favourable preplanning meeting with the planning officer before Christmas so we are hoping that it will be a formality.

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