August 12, 2016

Should I Rent or Sell

One of the most frequently asked questions when sellers are looking to buy their next home is “shall I rent my property out, or shall I sell it”? 

To answer this question and be fully informed it is always advisable to speak to the experts.   Your broker or lender will guide you as to whether this is an affordable option for you, your accountant will advise you, amongst other things, on the short term and long term advantages and disadvantages from a tax perspective. 

One of the most crucial people to talk to in making this decision is a knowledgeable local real estate agent.  Choosing your real estate agent wisely can often make the difference in making or loosing thousands of dollars.  The most popular real estate agency is a Franchise such as Raine & Horne, Barry Plant or YPA just to name a few.  The Independent real estate agencies traditionally are family run and typically have employees who are reliable and knowledgeable about not only your local area but current market conditions. 

There are more franchises than independent real estate agents in Sunbury so you will need to do your homework!  Franchises do have their benefits, however, employees tend to be transient and move from agency to agency and often franchises will take employees from one suburb to another with little or no knowledge of the local area to fill resource needs at each office.  Your real estate agent will give you a clear picture of the current market conditions for sale and for rent, and provide you with past sale and rental evidence in order for you to make an informed decision.  They will assist you in your journey giving additional property advice to bring you top dollar for your property no matter if you decide to rent or sell, they may also be able to match you with your new dream home too!