Hi all,
I have just one property in my name and that’s a D9 FH PC I bought recently.
Transacted psf in my condo has gone up some 30% lately. I know I’m getting ahead of the situation but hypothetically speaking, if it reaches a point where I can make a million from disposing it, should I?
- PC currently rented but yield is not good
- Bought this apt when we had no kid. Shortly after firstborn came along.
- We’ve never moved in for various reasons - outsized being one of factors - so we rented out.
- Bought the place because we like the vicinity (lifestyle) - close to Robertson
When I purchased this place, the intention was to hold for long (even considered the possibility of passing to kid if I have one though at that point we were DINK). Like all buyers, I did try to avoid buy high. Not so much as to hope to profit from it in future but rather to minimise the risk of losing money in case emergency strikes and I need to sell. The recent run up in prices got me thinking this could be THE chance for me to make money if opportunity presents itself.
My “concerns” are:
- if I sell now I don’t foresee myself having another chance of owning another D9 FH property anymore as I’ll be priced out (I really fancy owning a D9 property)
- I don’t know what to do with the proceeds (I don’t invest), and I don’t think I’ll buy any property in the short term due to current high prices. Chances are I’ll be “investing” in some very safe products with a yield of maybe 2% , which can’t beat inflation.
- a much longer timeframe down the road, my place gets enbloc and I lose the opportunity to pocket even more because I didn’t hold out long enough (hahaha, I can dream....)
Like to hear all opinions!
Thanks for reading this long post.