Upgrading? Keep your first home or sell it

0:00Upgrading your property? Are you confused whether to keep it or sell it? What are the advantages? What are the disadvantages? That's one of the most commonly asked questions. Sumit, I bought my owner. Occupy property many years ago. We've paid down the loan quite a bit. We only have little loan remaining. Should I keep that property, we are looking to upsize our family house. While the

0:19answer depends upon your personal situation, there are certain disadvantages of keeping the existing property and there are some advantages. Disadvantages are because the loan remaining on the property is very small, most likely you will not be able to negative gear anything on that property. It will most likely be a positively geared property. That is number one. Number two is if you are doing an

0:42upgrade somewhere along the line, this property will hold you back in terms of borrowing capacity. And the advantage being you will be able to have two properties instead of one property. It is a house where children grew up, you had your family time. It's always have that emotional sentimental value to you. Of course, it depends upon your personal situation, your incomes, your savings and a few

1:08other things. If you have a question, give me a call. DM me to discuss your customized scenario.