Partial loan repayment a good idea?

[Jessica Sandoval]

Dear all,

I am a newbie in real estate and would appreciate your advice. Here’s my situation: I bought a single-family house in France 3 years ago and the current balance of my mortgage is 120K Euros (16 years mortgage). I am about to receive a bonus of 10K Euros and was thinking about using this money to reduce the balance (no penalties around this). However, I think it might be better to renegotiate my loan from 16 to 30 years (this would help me to improve my monthly cash flow) and use the 10K Euros to invest in another property. What do you guys think is the best option? Thank you so much.