Selling in a challenging market vs investing in rental returns
The market in Darwin is certainly a buyers market especially for those local buyers looking to upgrade but what does it mean for sellers?
Perhaps you have thought about selling your property and have gone through the motions of getting a sales appraisal which has come back lower than you expected?
If your’e upgrading in the same market don’t forget this makes little difference as the house your buying is affected by the same amount but if you have plans to relocate for work and need a solution, what next? Well that is where I come in, read on to find for advice into how to take advantage of the market we are currently in and become an investor.
If selling in a downturned market causes too much financial stress consider leasing, Darwin still returns better than most capital city markets and with no land tax it really is worthwhile contemplating becoming an investor.
Whilst The Darwin Region is not as strong as it once was there are landlords with investment properties that are generating income, provided you have a manager who can secure a good calibre of tenant for your property with a good rental return.
Everyone knows the market for losses or unfavourable results, you need an agent who is coming to you with solutions.
Having the resources of Australia’s largest real estate group means that you are in a strong position, you have both rental and sales experts ready to give you the necessary advice for current market conditions and also ready to make any changes you may need.
In Grant Cardone’s book “The 10X Rule” he speaks about making the most of opportunities in a difficult marketplace. Quoted from the book “When a problem exists for the entire market and all the people in it, it becomes an equalizer. The only person who stands out is the opportunity-focused individual who sees those problems as openings for success.” We can apply this to the real estate market like so; when the market becomes stagnant or drops it becomes an equalizer for all properties involved, to gain the best results from this you need to have a strategy that is opportunity focused giving your real estate campaign openings for success. In my opinion, one way of doing this is leasing.
Without a doubt your Sales Agent will be in a position to advise you honestly on your best way forward and will explain their level of expectation for your property in the current market place so listen to this advice and really consider your options as they will have your best interests in mind.
Be creative and play to market strengths regardless of the market conditions of the moment, the key is finding the positives in this market where others only see negatives and playing to their strengths. Once you have found an agent who can master this your real estate woes will disappear.