Things have been up and down in Muswellbrook for the last 3-5 years and to be honest if you bought 4-5 years ago your capital growth would be next to nil with the recent downturn in the market as a result of dropping coal prices and it impact on the local market.
I recently had an agent do a valuation of my property and he valued it at same price I bought it for in 2010. He told me during subsequent discussions that he doesn't expect things to pick up again for another 12-18 months.
The property is all most paying for itself so I have no cash flow problems. Currently costing me about $50/week including all expenses which is nothing. It's my one and only investment property.
My question is, should I stick around or sell and move my investment somewhere else. Problem is that I would lose money if I did that with the expenses of buying and selling. I'm in for the longer term so happy to stay if it make sense to do so.
Give me your thoughts.
I recently had an agent do a valuation of my property and he valued it at same price I bought it for in 2010. He told me during subsequent discussions that he doesn't expect things to pick up again for another 12-18 months.
The property is all most paying for itself so I have no cash flow problems. Currently costing me about $50/week including all expenses which is nothing. It's my one and only investment property.
My question is, should I stick around or sell and move my investment somewhere else. Problem is that I would lose money if I did that with the expenses of buying and selling. I'm in for the longer term so happy to stay if it make sense to do so.
Give me your thoughts.