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Gungahlin, ACT 2912 Review
Joshua
Justprop Editor
Ronie
Sam2018
Gungahlin
Hello All I have a query. I purchased my 1st property (PPOR) with the intention as IP, a townhouse in Canberra one of the newer Gungahlin suburb Moncrieff, i've been living there for almost 2 years now.
Location wise, the unit is very close to local school, and 5min drive gungahlin town center, 5m to the light rail station, ~15km to city center.
I also paid 500k for it with 3/2/2, i think i've made a wrong choice of purchasing a townhouse as body corp cost, rate & land tax is too high of cost to managed.
Few weeks ago my neighbor sold his place for 485k, not only it didn't made any capital gain in past 2 years but the value of the place has depreciated too. The current rental price can fetch around $550 - $570 per wk.
Currently i'm paying $1800 per month on my mortgage.
What would you do if you were in my position?
1) do you move out and rent the townhouse out, and hoping in about 2 - 3 years it might gain some values? and gain some benefit from tax claim?
2) sell it and absorb large losses now? Looking for suggestions.
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11Mo ago
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