ASK196: Should I sell now or wait for the boom? PLUS: Could new tax bands change my strategy?
This week on Ask Rob & Rob, the guys are answering two questions that are affected by current and ongoing situations from property booms to increasing tax bands.
This week’s first question is from Lee - he has a clear strategy and wants to use property to increase his regular cash flow so that eventually he can be financially free. He’s roughly 60% through this process but his next property might allow this to happen a lot faster.
He has a 3-bedroom property in South London and the property price has grown 50% since he bought it back in 2010 - happy days!
Lee thinks he’s got about £120,000 worth of equity in the property and has considered selling up and purchasing two properties to double his income - but this is where he gets a bit stuck.
Should he sell up now, or hang on and wait for a property boom and hopefully get more money than what the property is currently valued at? Tune in to find out what The Robs think he should do.
Our second question comes in from Chaz who’s wanting to know if a change in tax bands, dependant on who our next Prime Minister is, could result in him needing to change strategy?
It’s a bit of a tricky one because how many politicians actually follow through with what they say they’re going to do?
But nevertheless, Rob & Rob give their opinion to help Chaz and his future strategy.
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