Hi all
Was interested in geting some feedback. About 12 months ago we purchased a block of land (about 580sqm) in Esperance, an estate called Blue Water Estate. As the development had just started, we have only just received notice to pay our stamp duty. We have yet to receive our Title Deeds.
We are tossing up whether to sell the land before we start going through the process of setting up a loan etc. I would like to hear some feedback from the forum regarding a strategy. Do we hold onto the block another couple of years, or sell now?. As we are in Sydney, we cannot justify building on it because of the distance and the inherent hassles in building in another state. We would be happy with a 30K gain in the hand. We paid 126K for it.
Any suggestions would be appreciated. The land is in a suburb called Sinclair.
Many thanksSimon
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