Hi there, some advice please and thank you in advance.
We have a rental property in central Auckland. It's on a good street and it's a legal home and income bringing in $1,875. week. We are wanting to pay off debt and are thinking of selling. We were looking at doing this at the end of the year but one of our tenants have given notice, so we were thinking is it better to try and sell now? Things to consider is our mortgage is coming off next month and the rate has more than doubled. If mortgage rates continue to climb would it be best to try and sell now, as well as if there is a slight downward drop in house prices?
So what are your thoughts please? Thanks again =)
We have a rental property in central Auckland. It's on a good street and it's a legal home and income bringing in $1,875. week. We are wanting to pay off debt and are thinking of selling. We were looking at doing this at the end of the year but one of our tenants have given notice, so we were thinking is it better to try and sell now? Things to consider is our mortgage is coming off next month and the rate has more than doubled. If mortgage rates continue to climb would it be best to try and sell now, as well as if there is a slight downward drop in house prices?
So what are your thoughts please? Thanks again =)
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