I OWN A TOWNHOUSE IN A BODYCORPORATE IN THE EIGHT MILE PLANES AREA RECIEVING RENTAL OF $320 PER WEEK. I AM CONSTANTLY BEING CONTACTED BY THE PROPERTY MANAGERS AND REALESTATE AGENTS WANTING TO KNOW IF WE WOULD LIKE TO SELL THE PROPERTY AS THEIR IS A NUMBER OF PEOPLE LOOKING TO BUY IN THE AREA. SOME OF THESE PEOPLE ARE POPERTY INVESTERS, WHICH MAKES ME THINK THE MARKET IS STILL GOING TO INCREASE. WHY ELSE WOULD THEY BE INTERESTED? WITH TALK OF JUST UNDER 300K ITS TEMPTING TO OFFLOAD BUT I'M THINKING OF HOLDING OF FOR 6 MONTHS TO SEE WHAT HAPPENS. ANY THOUGHTS OR ADVICE WOULD BE GREATLY APRECIATED.
hi,
I'd hold onto it. The same thing happened with us about 5 years ago with our townhouse on the Sunshine Coast. We bought it in 02 for 135,000 and now its worth about $300,000. I'm so glad we never gave in to the constant stream of letters asking to sell, that increase in equity has allowed us to do so much now.
If its not costing you too much each week and you can handle it,then definitely hold it. The market is only going to increase in that area and your townhouse will keep appreciating.
Wealth through accumulation!
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