In July I brought a block of land in Ashby WA for $255,000 now worth $278,000 wondering if it was best to keep it for 12 months befor selling, any advice apprieciated.
Flip
Hi Flip,
I here it’s been going Off over there and thats great, woulda loved to been amosgst it. The word is there is a little more sillyless left in the market, then it goes flat. So if the land is’nt a buy and hold for you sell it and make a quik profit.Cheers,
The Barterman[blink]
“To have more than more than you’ve got, become more than you are”
Sounds like there isn’t a whole heap of capital growth to play with there, some $22,000, have you factored in the stamp duty that you paid when you bought, the legal fees/conveyancing, the cap gains when you sell, the interest you’ve paid while holding the property, etc etc. You’ll probably find that the $22k that you think you’ve made will be whittled away pretty quickly. What did you first purchase the land for? I’m sure you had a goal and some sort of feasibility study for why you bought the land, perhaps you should take the $22k as a bonus and push forward with your plans.
Crunch your numbers and see where you end up
Dave.[thumbsup2]
I agree with Dave, crunch some numbers. Consider also what you could do with the cash now if you sold, could you make more than the tax you would save by holding on for 8 more months?
Terryw
Discover Home Loans
Parramatta
[email protected]
Sign up to my mailing list.
Just send me a blank email, with “subscribe†in subject line.Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You must be logged in to reply to this topic. If you don't have an account, you can register here.
