Hey all,
First time poster here, my wife and I went with Parktrent (yes i was newbie) 3 years and 8 months ago, (11/09 mid 20's young and ignorant), we put a 10% deposit on AURA 534 Flinder St Melbourne 3000. It was suppose to settle in 2 years but it took this long to build. Settlement is mid August and by now the market is over supplied and there wouldn't be any more CG in the short-mid term.
I got a 2 roomer 1bath no car space, total 61 square metres for 457k. It is level 19 and it was 5k per level higher. I do feel for someone else who bought for 412k 1 roomer on level 10. which totals to if she bought on my level it would be exactly the same price and its a 1roomer...
So the question is, do I sell after settlement, hopefully get it out in time before the mass blocks come out into the market 2014-2015. Hopefully break even if i sell for 480k and anything over i will make some money on...
or hold on and hope long term wise, so all of this will be worth it in terms of rental return and CG.
all feedback will be much appreciated.
First time poster here, my wife and I went with Parktrent (yes i was newbie) 3 years and 8 months ago, (11/09 mid 20's young and ignorant), we put a 10% deposit on AURA 534 Flinder St Melbourne 3000. It was suppose to settle in 2 years but it took this long to build. Settlement is mid August and by now the market is over supplied and there wouldn't be any more CG in the short-mid term.
I got a 2 roomer 1bath no car space, total 61 square metres for 457k. It is level 19 and it was 5k per level higher. I do feel for someone else who bought for 412k 1 roomer on level 10. which totals to if she bought on my level it would be exactly the same price and its a 1roomer...
So the question is, do I sell after settlement, hopefully get it out in time before the mass blocks come out into the market 2014-2015. Hopefully break even if i sell for 480k and anything over i will make some money on...
or hold on and hope long term wise, so all of this will be worth it in terms of rental return and CG.
all feedback will be much appreciated.