#AskNREIE: When Is The Right Time To Sell My Investment Property?
When should I sell my investment property?
The right time to sell my investment property might be when it suits your lifestyle or goals, but there are a number of questions you should ask yourself first.
Is Your Investment Property Paying For Itself?
If you are making money from your property each month, after associated fees and tax, you will need to source that income from somewhere else.
The longer you hold your investment, the more income it will generate for you.
If your property is costing you money in the short term, you should consider whether it is likely to produce returns in line with your investment goals and time frame.
Would you be Better off Invested Somewhere Else?
If your property is not increasing in value or the rental yield has stagnated, you might be considering selling but have you identified another opportunity?
Before you sell, you should analyse other opportunities to compare the potential returns with the returns you are already getting from your investment property.
Can You Access the Equity in Your Property?
If your property has risen in value and you want to use the gain for another investment opportunity, selling may not be your only option.
Selling your property will incur tax and costs you in fees and commissions so you might want to consider re-financing as another way to access the equity in your property.