Property Owners: Should You Sell Your Investment Property?
Category Advice
To sell, or not to sell... That is the question!
The decision to sell any kind of property doesn't always come easily. There are a number of controllable and uncontrollable factors to consider, whether you are looking to sell your residential or commercial real estate.
Choosing to hammer that For Sale sign down in front of your investment property should be carefully thought out. After all, getting a good return on your investment is the reason why you bought the property in the first place.
Here are some factors to consider before you decide to sell your investment property
1. The Current Market
The property market is an ever-swinging pendulum that usually favours either buyers or sellers. Keeping the current property market and climate in mind will give you a clear indication of whether now is the right time to sell. You want to maximise your sale price, so patience is key. Keep your eye on reputable local property websites for up-to-date information and wait for the right moment.
2. The State of the Property
You will also need to consider how old your property is and what maintenance and upkeep will potentially cost you as time goes on. If the property is fairly new, well-kept and generating good income for you, selling isn't essential unless you want to. However, if it costs you more to maintain your property than what you are making on it, perhaps it's time to sell.
3. Investment Potential
The value and investment potential of residential and commercial areas is almost always in flux. As a property owner, remaining watchful of the ever-changing times and economic circumstances is wise. For example, maybe you've reached a rental ceiling on your property and rates continue to increase, or perhaps the surrounding area is in decline. All these factors will likely impact your rate of return on your investment.
4. The Inevitable or Unpredictable
All the above considered, sometimes life just happens and you need cash quickly. In those situations, like footing a big hospital bill, forking out for university fees, or finding the right retirement home, selling your property is one way to cash in on cash flow fast.
Whatever your reason for selling your investment property, you will need the right property agent to guide you through to a seamless sale. That's where we come in!
Need professional advice before you decide to sell? Let's talk!
As with most big decisions, seeking advice from a property professional can help you weigh up all your options before you decide to set up that For Sale sign. Our experienced property agents come armed with a wealth of industry knowledge and experience. Contact a SAProperty.com agent today to set up an introductory meeting.
Author: SAProperty.com
