Hello
I would appreciate some advice.
Husband and I are relocating abroad permanently.
PPOR bought 4 years ago has equity, the majority of which we invested at purchase.
We are loathe to sell in current market, we would basically cover ourselves.
We are considering refinancing, IO and letting the property out for the long term in the hope that the property would increase in value over eg a 10 year period.
The rent would not cover all our costs.
Should we sell up and cut our losses?
Or should we let the property sit for the long term, sure of a return?
Thanking you
Shania
Hi Shania
Welcome aboard.
Sounds like you've answered your own question.
If you think the property will go up in value and isn't costing you anything to hold onto – then I'd be inclined to hold onto it.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Consider the tax consequences also. You would probably become a non resident for tax purposes.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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