When to hold and when to fold

Should buying a property be like building a time  capsule? Acquired and then squirrel away the titles away in a deep dark place  for long periods of time. If the right buyer comes along, and offered you the  ‘right’ price, would you sell? 

Many experts would advise that selling property  is taboo when building wealth or developing a portfolio. However, with agents  fees at 2-3% per sale, and stamp duty at over 3% every time you buy, is buying  and selling too much eroding your profits? Where is the perfect balance in  today’s market, where the words ‘plateau’ and ‘housing bubble’ seem commonplace in public sentiment. Do you hold for 20, 30, 40 years?

What are some examples of when selling can be tempting
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• Income has changed and you can no longer afford the property
• Unsecured debts have grown and you need to make some hard decisions
• Circumstances have changed and you need to change your lifestyle or home, via upgrade or downgrade
• The property is due for expensive repairs or the annual costs are blowing out

What are your thoughts about selling property? Are you in it for the long term or are you a property flipper? Let us know how  you feel about this topic in the comments section below, I’m sure there is a fabulous debate buried deep in this topic.

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