There’s no shortage of information and opinion about how and when to sell in any real estate market and an abundance of advice on what your best options may be in the market at the time. Changes in legislation, potential tax benefits and dips and rises in the property market are all influenced by various local, worldwide, seasonal and environmental factors.
What’s your situation?
However, the most important factor to consider when choosing to sell your investment property is your individual circumstances and the strategy that best fits your personal and financial goals.
Before making any decisions, analyse your investment plan and talk to your financial advisor about your current situation. They will work through the numbers with you and advise if the conditions are right for you, allowing you to make a well-educated decision.
One reason to sell could be the property’s expenses and cash flow. If these have consistently been negatively geared, you may find that making ends meet has become more challenging, especially with rising interest rates and increased inflation rates affecting the costs of living and expenses associated with managing your investment.
What’s your strategy?
Your financial advisor can work through your finances with you, and should you decide to keep the property, they will recommend relevant solutions like refinancing your current loans to source a better deal. Our team can also assist by providing a market appraisal to help you gauge the current value of your investment before you refinance.
Real estate markets are cyclical. You may decide that with increases in prices in your local area, it’s a great time to sell, and you may choose to invest in other strategies. Remember, you will be liable for capital gains tax after the sale if there are considerable gains.
Not all markets are the same, and micro-markets can influence buyer behaviour. While some are increasing, others could be decreasing or prices stabilising. The same occurs for rental properties, so increases in rental returns will depend on demand.
Who can help?
The best way to find out what’s happening in your area is to speak with one of our property managers, who can provide an accurate update on recent sales and rental returns in Rozelle and its neighbouring suburbs and the trends we’re seeing.
We can also advise what you should start thinking about when considering whether to hold your investment property or look at a divestment strategy.
We can help with all those things that you may not already know. You don’t have to be an expert in investing, you just need to know who to call.
Jaime is a seasoned Senior Property Manager and Director with over two decades of expertise. She excels in negotiation, delivering impressive outcomes for her clients. Her focus lies in Sydney’s East and Inner West, with a profound understanding of their distinct features, which she has acquired throughout her career.
She’s a top-notch professional known for her proactive approach, attention to detail, and excellent communication and organisational skills. Her performance-driven mentality and efficient yet calm demeanor result in exceptional service for both landlords and tenants.
Book your one-on-one, obligation-free, consultation with Jaime now. Call her on 0488 600 168 or email email@example.com.