Hi, I'm a fairly young and inexperienced investor, and I am currently considering renovating my IP to manufacture and pull out some equity for my next purchase.
With interest rate so low and house prices driven so high, I am worried that a falling market would follow. Regardless (presence of bubble is not the main question here):
Should I renovate and refinance now to a higher valuation, keep the funds in an offset account, and wait for a price fall before buying my 2nd property? (Assumption: if price would fall next year)
With interest rate so low and house prices driven so high, I am worried that a falling market would follow. Regardless (presence of bubble is not the main question here):
Should I renovate and refinance now to a higher valuation, keep the funds in an offset account, and wait for a price fall before buying my 2nd property? (Assumption: if price would fall next year)