Tuesday, 29 June 2021

How to know when should I sell my private resale property ?

[vc_row][vc_column][vc_single_image image="14241" img_size="full" alignment="center"][vc_column_text]Let assume that you bought this property at Ascentia Sky Property near Red Hill MRT at 1.1M and today it is worth 1.8M. Every month, you get a passive income of about $800 after you loan repayment, will you sell your property ?[/vc_column_text][vc_single_image image="14235" img_size="full" alignment="center"][vc_column_text]

Whether to sell or don’t sell, we cannot look at just this. Let us look at some numbers

I have plotted this chart of Ascentia Sky, it show that the price went up to here. But it has stagnant for 2013-2017 and has already been five years. So is this period of time wasted ?

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Most owner will feel that they do not really need to sell since they are getting passive income. But how long does you need to get this passive income to reach $331,000

A lot of time , owner goes on a short term insight on the $800 rather than the huge gain of $331K. If you have let go at 2013, it actually open you up a chance to gain this type of profit again.

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So the question is, should you create more debts or safe more money before buying another property ?

If you have done your financial prudent, debts are actually ok especially these are the good property debts rather than the bad credit Card or Car debts. Key is to take profit and make more money

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Let us look at another development next door - Alex Residences. If during 2013, you were to sell your Ascentia Sky and re-enter to Alex Residences. What will happened ?

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You see, the profit margin went up again.

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You see in 2019, there is one transaction that the seller who bought his unit in 2013 make a 331k profit. This could be your potential  gain as compare to previous stagnant prices at Ascentia Sky.

So does it justify to keep your $800 vs $331k profit ?

Of course, this is just one of the factors for your consideration to sell your property and hope it do give you some idea.

[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_message message_box_color="pink"]Disclaimer: PropertyFactSheet does not guarantee the accuracy, timeliness or reliability of the information and pictures within the site. PropertyFactSheet shall not be responsible for any liability arising from reliance of any information or use of this site for dealings with any third party. Indicatives shown are subjected to change at any time.[/vc_message][/vc_column][/vc_row]

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