Divesting Property Wollongong
Property investors may choose to divest for a variety of reasons. For most investors, their property investment serves to attain specific financial goals such as paying for higher education, retirement or supporting their extended family.
When these goals have been met, some might consider freeing up their cash for other opportunities. In other instances, others might need to commit this cash in other ventures thus making divestment of property a suitable option.
When’s the right time to sell?
There is usually no best specific time of selling investment property. This is because there are numerous factors involved and circumstances to consider. When considering to put up their investment property for sale, the first thing an investor needs to have in mind is the ROI. Additionally, personal situations and property prices change, whether it be an investment property Wollongong or Sutherland Shire.
Other factors that complicate the decision to divest is the dilemma of how much to spend on advertising, which agents to use or to establish what the property is worth.
In order to determine whether to sell or not, you first need to do some targeted research which includes details such as:
• How mature is your loan?
• When does your lease expire?
• What will be the net earning potential of your investment in the next few years? i.e. gross income less of any expenses involved such as mortgage and upkeep costs.
The next step should be to conduct a market analysis. This will help you to determine the best time to divest and will also give you important details to help you market your asset.
Tips to analyse the market:
• Check on the current interest rates and the expert’s future projections.
• Establish how these future changes can affect the value of your property.
• Find out whether you are in a position where you can wait to sell if the future looks positive.
As an investor, the last thing you want to do is to lose money on a property. This makes a detailed property market analysis a must, and the perfect process to go through to determine whether to sell or not.
Options if you stand to make a loss, or receive a profit much lower than your projected goal:
• Renovate your property to increase its value
• Wait it out until the market picks up
If you establish you can make a good profit, you can go ahead and sell. However, before you do that, you should also consider where to invest your money next. The ROI of your next investment should be higher than that of your property.
Divesting with Southern Property Managers
Our divesting service specialises in seller representation with the goal being; closed deals and satisfied customers. From the above information, it is clear that market and property research is not a piece of cake. So much goes into it to determine the right time and price to sell your property.
Fortunately, our agents can help you make the best divesting decision and also to determine the best selling strategy thanks to their deep knowledge of the property market. We can also offer recommendations on what to do to increase the value of your property. Finally, you get access to our huge network of realtors so as to get the best deal in the shortest time possible.