Hi Guys,
Im new to the game and have recently finished a full renovation on my first unit in Bondi.
I am now stuck at the cross road of whether to sell or hold onto it and rent it out.
I picked up the 2 bd 1 bath 1 car unit for $530k and after stampy duty, legals and renovation costs have spent about $580-585 total.
After living it in and renovating for the last 6 months it is ripe and ready, i got the same agent back to look at it, and claims that it would likely we would get 700-750k...
Ive spoken to quite a few people and alot seem to say hold and rent out as that was their strategy. just thought it would get a few more opinions.
As the gain would be large in quite such a short time, is it worth selling and moving onto the next venture.
also estimated rent based on comparables and leasing agents would be 740-780 pw.
chris
Im new to the game and have recently finished a full renovation on my first unit in Bondi.
I am now stuck at the cross road of whether to sell or hold onto it and rent it out.
I picked up the 2 bd 1 bath 1 car unit for $530k and after stampy duty, legals and renovation costs have spent about $580-585 total.
After living it in and renovating for the last 6 months it is ripe and ready, i got the same agent back to look at it, and claims that it would likely we would get 700-750k...
Ive spoken to quite a few people and alot seem to say hold and rent out as that was their strategy. just thought it would get a few more opinions.
As the gain would be large in quite such a short time, is it worth selling and moving onto the next venture.
also estimated rent based on comparables and leasing agents would be 740-780 pw.
chris