QLD Newbie Seller Margate

We bought our first home in Margate in 2013 for $305k as the price has gradually increased and after spending 40k on some renovations, we are looking to list it for $500k, as it’s now an investment property and we have long term tenants now (over 3 years). I’m trying to make a decision, to sell or hold, the market seems quite good at the moment. Is the market expected to go up further this year? Maybe better to hold off for another year? Please help any opinions or foresight would be greatly appreciated.

 

Hi there,

No one has a crystal ball but given the current movement of the Brisbane market (particularly in and around Moreton Bay), I would expect to see further price growth this year. If you are not in a position where you have to sell maybe it would be worthwhile waiting it out? I would encourage you to research what is going on in your suburb yourself as this may provide you with greater clarification on what you should do with the property. If you have any questions feel free to Pm me.

Cheers,

 

If I had a property in Margate that was performing well, I'd hold it, but then again, I'm not an accidental investor. What are your plans? Do you need the funds for a new PPOR? If you have no specific plans, I'd hold onto it.

 

I think you should hold.

If you have are an accidental investor (athough i think maybe you put thought into it) accidentally hold for more return.

I bought houses, lived in them, then rented out. If i look back i should have done that with every house ever had (moved around a lot).

Holding makes sense in bad times and good.