An investor decides 2021 is the time to sell her Crows Nest investment property and buy a family home.
Here is Alison’s story:
I didn’t plan to sell my Crows Nest apartment in the hottest real estate market in 32-years, but I’m glad I did.
Selling my one-time home and now investment property wasn’t on my to-do list for 2021. My one-bedder was in a good location, I had no trouble getting tenants and it offered a good rental return.
But a well-timed call from Stephen O’Sullivan and some encouragement from family, convinced me that selling could be a good move
Finding the right agent
Stephen kept me updated on comparable sales in my building over the years and offered his assistance should I need it. However, he wasn’t a pushy agent who inundated me with emails. Instead, he occasionally sent me a link to a recent apartment sale in Crows Nest and asked me how I was going.
‘Nice bloke’, this Stephen, I thought. ‘When it’s time to sell, I’ll go with him’.
Afterall, I bought my apartment from Marriott Lane and they were doing a good job with my property management. And, as an out of town owner, it was handy to have an agency give me local market insights from time to time.
Go big or go home
What Stephen didn’t know was that I was close to buying a family home.
Should I sell my investment property and buy a bigger house? Or keep my investment and buy a modest house?
For me, it came down to helping my family buy a home that we’d be happy with for years to come, rather than keep the growing apartment equity for a later time – like retirement.
2021 appeared to be an outstanding time to sell, but an increasingly tricky time to buy. So, I decided to take the plunge, cash in and buy the house I really wanted.
Retirement could wait.
Afterall, I have another 25 or 30 years in the workforce, and, with more equity in my family home, there’s still potential to buy another investment property in the future – perhaps just not in Sydney!