I bought an investment property in Muswellbrook about 5 years ago.
Because of the downturn in the local property market my property is worth less than what I paid for it. I bought it for $252K and I am told by the agent it is currently worth $235-245K.
I'm told by the managing agent that there is some good news on the horizon for the market but increases may not be realized for another 12 to 18 months.
My question is, if you had a property in the hunter what would you be doing with it? I have no financial reasons forcing me to sell it as it was intended to be a long term investment and it almost pays for itself, but is my money better off spent elsewhere.
Love to hear your thoughts
Because of the downturn in the local property market my property is worth less than what I paid for it. I bought it for $252K and I am told by the agent it is currently worth $235-245K.
I'm told by the managing agent that there is some good news on the horizon for the market but increases may not be realized for another 12 to 18 months.
My question is, if you had a property in the hunter what would you be doing with it? I have no financial reasons forcing me to sell it as it was intended to be a long term investment and it almost pays for itself, but is my money better off spent elsewhere.
Love to hear your thoughts