Buy or Sell

Hi All

I am new to this forum. I would like your advise on a land that I have in Tarneit.

With the current market in Melb I am confused if I should sell the land or build my second investment property.

Would it be worth it to
1. sell the land now and keep the profits
2. hold it for few years and then sell the land
3. Build house, rent it for few years and then sell.
4. Open to other advise/suggestions.

Land is 450sqm titled in Feb 2018 in Grove estate.

 

Hi Abbie,

I think the real question you're asking here is whether Melbourne price will continue to grow, and if so how much longer. I don't think anyone has crystal ball on this so the best decision would be for you to do your own research on each of the options, based on current data available/available property on market/property sold records, and then derive at the option that you think is best for you.

Also, what is your long term investment goal?

Based on your options, I have noted a few questions for you to consider:
1. How much profit do you think you'll get by selling the land?
2. How much would the holding cost be if you hold it for a few years without being at to rent a house out? How will that impact your cashflow/financials?
3. This may be the most viable option out of them all if you don't want to go down option 1, depending on the type of property & how much it'll rent to keep your finance afloat

Cheers,
David