I currently own a 3 bedroom home on a 780sq metre block in Glenelg North, SA. Judging by the market i could sell it for mid $300,000’s. My problem is if i sell, where and what should i invest in?
I was thinking of purchasing a home in the low to mid 200,000’s to rent out and then purchasing some land or a unit aswell. But can someone give me a clue to where i should be looking to invest as i’m lost in a sea of information and i’m just to confused.Cheers, Matt
OK Matt – lets see if we can get this clearer in your mind.
My first question is why?
Why sell a property, pay costs and CGT and then buy another one – paying costs and stamp duty?
Why not just buy another property as well?
Cheers,
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Matt. I agree with the other reply. Unless you have a particular reason that you have to sell, I would imagine you have a bit of equity in this home? You could use that to ‘borrow against’, and then use that for a deposit on your property of choice. It may be a cheapy, and not nearby, but then you have two properties to work for you. In time, you can do this again if the value of your house/houses increase, and so on. And you will have saved thousands of dollars on fees, and probably capital gains tax. Hope all goes well.[exhappy]
Originally posted by v8ghia:Hi Matt. I agree with the other reply. [exhappy]
Matt,
Don’t get me wrong – I am not suggesting any course of action – just asking you some questions to try to help clarify your reasons in your mind.
Cheers
Simon Macks
Residential and Commercial Finance Broker
***NODOC @ 7.15% to 70% LVR***
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Hi Matt,
I agree, it dosent make sense to sell one just to buy another. Is there are reason why you would want to do this?
I live in SA, feel free to contact me!
Xenia Ioannou-Mena
Property Manager &
Property Sales Consultant
E: [email protected]
M. 0412 437 582
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