Most investors ask this question at some point. A lease is ending, the rate has moved, or a big repair is due. There is no single right answer, but there are good questions to ask.
What is the property doing for you? Compare the rent to your holding costs: loan repayments, rates, land tax, insurance, body corporate fees and upkeep. Then look at how the value has moved over five years.
What is coming up? A new roof, a hot water system or a kitchen can change the sums. So can new rental rules that need work done.
What does the market say? Check how many homes like yours are selling, how fast, and how many buyers are looking. A quiet rental market and a strong sales market can point one way. The reverse can point the other.
Tenants in or out? Selling with tenants in suits some buyers and keeps rent coming in. Selling vacant usually shows better and suits owner-occupiers. Our guide to selling a tenanted property covers both.
Talk to your accountant about tax before you decide. Then talk to us about price. Your My Home Page shows buyers looking for a home like yours, as well as recent sales near you.
