Selling my investment property

I’ve been sitting on this post for a while, however I thought it was about time to quickly drop a message on my blog for future reference. I’ve decided to sell my investment property. Here are some of my reasons:

• Six year rule: As the property has been my PPOR and has only been rented out for less than two years I can still classify the property as my PPOR and thus exempt from capital gains tax
• Age of the property: The property was built in 1954 and is starting to require more and more maintenance which
• Not in long term plan: I don’t plan on moving back into the house, extending or developing the land myself, and as such a long term investment isn’t applicable to me
• Being a landlord is not for me: Even though the property was handled by a property agent, it just felt like every second week I was being asked to do/check something and to be quite honest I really didn’t have the time
• Does align with long term investment strategy: I’m looking to invest heavily over the next 10yrs and plan to try and PTFIRE within the next decade, having a non-liquid asset doesn’t really help me at this point (not to mention current interest rates)
• It’s currently a sellers market: I had been thinking about this prior to COVID-19, however now that the market seems to have picked up and there is limited stock, in my opinion now is the right time to sell. Strike while the iron is hot!

So, in saying that the property will be on the market in the next day or so. I’ll look at creating a different post after in relation to how I sold the property, what I did to it and what the costs were.

Cheers,
Dan