With a booming property market, you may be thinking of selling your investment property to take advantage of the rise in value in the past 5 years in Australia. Is this wise or is holding on your property the best way to go for the long term?
Selling your property after significant capital growth is good for those who:
- Have more than one investment in their portfolio
- Are looking to reinvest their profit for another long term investment, or
- If money is particularly tight and you can’t hold on to the property any longer
Holding on to your property for longer is good for those who:
- Can sustain the financial commitment to their mortgage
- Are looking at the property to increase even more over time, or
- Are still in the early stages of their investment
An honest evaluation of your finances by an objective professional, such as your financial advisor, is also recommended to ensure you are reaching your investment goals.