During the course of your project, the market may have either shifted in your favour (a seller’s market) or against your favour (a buyer’s market).
If you’re in a good capital gain position once all costs, fees, expenses and taxes have been paid, you may consider selling.
If you’re in negative equity, you may decide to rent the place out until the market comes back to a profitable position (which could take years).
However it’s best to put yourself in the best possible scenario by visiting all options and calculating the real numbers.
By adding up all costs to date (the property, project and holding costs), working out a realistic selling price based on comparable sales and then deducting all the fees associated with the sale (campaign, agent, selling fees and taxes) – Should help to give you a good overview as to the final profit you could take away from selling.
Everyone’s situation is different and as such, only you will know what the best decision to make will be.
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This information is of a general nature only and does not take into account your objectives, financial situation or needs. We are not financial, legal or tax advisers. You should seek appropriate professional advice specific to you before acting on this information.
