Should you sell your property if the market goes up?

Dilleen Property Group 2022

During times of rising market trends, many property owners may have had the thought of selling their property in return for quick monetary profits. Depending on the situation and how the property owner decides on using the money, it is generally not a good idea to sell your property unless you are in desperate need to use the funds. Selling your property just for the sake of getting money out of it during a time of a rising market trend means that you will no longer be in the market and could miss out on further compound growth in the future.

Reasons why you should not sell your property :

Inflation

With prices of property going up over time, you need to be in the market to continue receiving gains from the properties.

Fees

Selling your property comes along with a large sum of fees that you may not be prepared to pay. Some of these expenses include solicitor’s fees, selling fees and capital gains tax. These can really add up throughout the process.

Instead of selling your property, you can consider :

Refinancing

Instead of selling your property, you should consider refinancing your property and extracting equity from it. This method allows you to hold onto the asset for it to continue growing in value over time. Unlike selling your property, extracting equity from your property is tax-free, hence you will end up with increased funds to use while not having any tax associated with the process.

If you require assistance or have an inquiry about purchasing investment properties or building your own property portfolio, you can contact us here to learn more about our investment strategy.

Disclaimer: This is not intended as legal, financial, or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature, you should seek advice from a qualified and registered legal practitioner or financial or investment adviser.