7 reasons to sell your property – kopiandproperty.com

Property Investment 101: 7 reasons to sell your property

Should I sell my property now? Seems like market is bad for sellers?

Many friends love to ask if they should sell their property now? My answer has always been “do you have a reason to sell your property now?” Any decision has to start with WHY. Why do you want to sell? I am serious. If your reason to sell your property now is because you want to put that money into the bank, then maybe think thrice. FD rate is only 3 percent or lower yeah.

That’s like having RM10,000 turning into RM300 AFTER 12 months. Erm…

For this article we assume you are an owner who could still hold on or you could choose to sell and that selling is just an option versus someone who’s struggling to repay the mortgage every month. If you want to sell your property faster, Here are 6 tips to sell your properties faster. If you just need 7 reasons why you may want to sell your property now, then please do read on.

#1 – You really hate that property that you currently own.

You do not wish to drive to the property because somehow you hate the design, hate the neighbourhood, had a bad experience renting that home out or somehow it has bad fengshui and you could feel something is wrong with it. The property may have even caused never ending arguments with family members. If this is the reason, wait no more. Quickly engage a real estate negotiator (REN) and let someone else own that home and you take their money instead.

#2 – You want to invest the money into some other investments

If you found another investment which could yield a higher return versus this property which is not generating anything, better sell quickly. Depending on which book you read, any property which is not giving any positive returns is a liability and you should just sell it and move on. Just need to remember, this new investment which you are about to go into, please make sure it is an investment yeah. Not something you do not understand. Then that’s speculating…

#3 You need the money to buy a new car (your dream car, dream brand at dream price)

Cars. They depreciate. That’s what people say. 10 percent if not more of the price already lost the day you drive it out of the showroom. Then again, have we ever spoken to someone who could speak about cars for hours? Who could spend hours with their car every weekend? Who would drive the car out just to enjoy the exhilaration and enjoyment of driving? Now, that dream car, dream brand has been launched and it’s at a dream price. I mean a price you would afford if you just sell your property. Go for it lah. Depreciation just let it be lah.

#4 You need the money to go for a vacation (else you will go crazy)

Work. All work and no play makes all of us a dull person. All work and no vacation will cause us stress and frustration. These days, most travel restrictions if there are still such a thing has been lifted. Go Japan (where RM vs Yen is still better) or any of those countries where you wanted to go but did not have the chance to go yet. Go enjoy seasons which is different from what Malaysia has. Go skiing, now’s the time actually. Just sell the house and use the money to go for holidays you deserve.

#5 Many prominent people said negative rental returns are bad

Your monthly mortgage is RM1,500. Your rental is meanwhile just RM1,300 and once you add up the maintenance fee, then it’s a negative of RM400 every month that you rented it out. If you sell, then you stop losing RM400 x 12 months which will come to RM4,800 per year. Looks like a wow? So, if you believe negative returns are bad, then take action; sell your property now. (I do not agree to these prominent people yeah. It’s not such a direct comparison)

#6 No Real Property Gains Tax (RPGT)!

See the below chart? Well, if you are already past 6 years, there are no more real property gains tax! None. Zero. Nothing. 🙂 Previously there was the 5 percent introduced by some clever minister. Now no more. it’s a lot of money this 5 percent yeah. RM200,000 profit means have to pay RM10,000! Erm… can travel to Japan dee.

RPGT rate for disposal of chargeable asset under Part I Schedule 5 RPGT Act:

Source: https://www.hasil.gov.my/en/rpgt/real-property-gains-tax-rpgt-rates/

#7 You have a really good offer.

It’s tough to get any offer close to the market price in the current market. So, if you have a good offer which is not just on the market price but maybe even above it, it may just be the time to take that offer. Just remember to check what’s the actual market transacted prices lah. Do not just listen to your friends or look at market listings which does not mean it will ever get transacted.

So, if one of these 7 reasons happens to be one of your reasons, then yeah perhaps it’s time to sell your property now. Remember to get a good real estate negotiator (REN) yeah. They will not just make things easier but may even teach you what to do prior to selling your home which will make it sell faster too.

Please feel free to share this article too. Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER). 

Alternatively, Follow me on Telegram here.

Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles.

Else, follow me on Twitter here.

Leave a Reply

Your email address will not be published. Required fields are marked *