Almost every upsizer asks this question, and if there was an easy answer we would give it to you! It’s not always straightforward and each option has its pros and cons. ⁠

⁠Firstly, engage a real estate agent and property manager to give you what they think your property is worth in both aspects. ⁠

⁠Secondly, approach your mortgage broker and/or financial advisor with these numbers and see what they think. At the end of the day, you need to consider which option is going to give you positive cash flow and get you to where you want to be. ⁠

⁠Then consider these 9 things…⁠

? Which option makes the most sense financially?⁠

? What can you handle emotionally?⁠

? Is there a rental demand for properties like yours?⁠

? Is there good potential for capital growth?⁠

? Do you want to be a Landlord?⁠

? Is your property even suitable for renting?⁠

? Do you have your tax in order?⁠

? Is your home loan the right one for you?⁠

? What is your gut telling you?⁠

⁠Whichever option you choose, taking that next step in your property journey is certainly very exciting!⁠ ⁠Good luck!

Leave a Reply