All Topics / Help Needed! / Buy or Sell

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  • Profile photo of decorfxdecorfx
    Member
    @decorfx
    Join Date: 2006
    Post Count: 2

    In July I brought a block of land in Ashby WA for $255,000 now worth $278,000 wondering if it was best to keep it for 12 months befor selling, any advice apprieciated.

    Flip

    Profile photo of dondentdondent
    Member
    @dondent
    Join Date: 2005
    Post Count: 17

    Hi Flip,
    I here it’s been going Off over there and thats great, woulda loved to been amosgst it. The word is there is a little more sillyless left in the market, then it goes flat. So if the land is’nt a buy and hold for you sell it and make a quik profit.

    Cheers,

    The Barterman[blink]

    “To have more than more than you’ve got, become more than you are”

    Profile photo of d_robb21d_robb21
    Participant
    @d_robb21
    Join Date: 2006
    Post Count: 101

    Sounds like there isn’t a whole heap of capital growth to play with there, some $22,000, have you factored in the stamp duty that you paid when you bought, the legal fees/conveyancing, the cap gains when you sell, the interest you’ve paid while holding the property, etc etc. You’ll probably find that the $22k that you think you’ve made will be whittled away pretty quickly. What did you first purchase the land for? I’m sure you had a goal and some sort of feasibility study for why you bought the land, perhaps you should take the $22k as a bonus and push forward with your plans.

    Crunch your numbers and see where you end up

    Dave.[thumbsup2]

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213

    I agree with Dave, crunch some numbers. Consider also what you could do with the cash now if you sold, could you make more than the tax you would save by holding on for 8 more months?

    Terryw
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Viewing 4 posts - 1 through 4 (of 4 total)

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