Hi,
I have a 2 bedroom apartment,80 sq m. in Eden Terrace.Right now ,I am very confused over whether to hold or sell. Its an excellent apartment,which I bought at 310k a year back.I am moving out of the country ,and don't want to have the hassle of maintaining it. It rents at 420$ per week. Body corporate is around 5000$ per year.It is walk able to Mt Eden Train station and convenient to take the bus to the city.
Currently,it has some minor issues with rain water coming down the open courtyards etc.I do not see more than 5k$ in terms of repair.Also,it just got logged with WHRS,and they are doing building inspection.
Auckland real estate prices seem to be going up,but there is 2 apartments listed in this block in November,and doesn't seem to sell. However they are priced much higher . I am realistic ,and just want to take the money i initially paid,since I am moving to a different country,and would require the money for some other investments,however I am not in a hurry,if I need to hold to this property.
Please advise.
Thanks!
I have a 2 bedroom apartment,80 sq m. in Eden Terrace.Right now ,I am very confused over whether to hold or sell. Its an excellent apartment,which I bought at 310k a year back.I am moving out of the country ,and don't want to have the hassle of maintaining it. It rents at 420$ per week. Body corporate is around 5000$ per year.It is walk able to Mt Eden Train station and convenient to take the bus to the city.
Currently,it has some minor issues with rain water coming down the open courtyards etc.I do not see more than 5k$ in terms of repair.Also,it just got logged with WHRS,and they are doing building inspection.
Auckland real estate prices seem to be going up,but there is 2 apartments listed in this block in November,and doesn't seem to sell. However they are priced much higher . I am realistic ,and just want to take the money i initially paid,since I am moving to a different country,and would require the money for some other investments,however I am not in a hurry,if I need to hold to this property.
Please advise.
Thanks!
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