Five reasons to hold on to your first property

Anthony Somlai shares five reasons to hold on to your first property.

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Following is the video transcript

One thing I sometimes hear from clients is that they wish they’d held onto their first home.
And some of my friends are now starting out as first-time landlords, having decided to hold onto their first property as they move into their second. I believe that it’s worth doing this if you are financially able to.

There are a few reasons for this. First – you know the home. There won’t be any surprises when you start renting it out, and you’ll know you’re offering tenants a sound property.

Also, Neutral Bay and surrounds have evergreen appeal to tenants, so holding on to your investment is a great long-term decision where you can start building a portfolio.

Next, it saves time, as you won’t have to look for an investment property later on. You’ll also continue to benefit from any money you’ve invested into your property.

In addition, there are many tax benefits to owning a property.

And finally, it gives you peace of mind. Knowing you have that asset available or if you want to downsize, later on, you still have your first home.