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darren0071
Guest
Hi
I am looking for some advice
I purchased an apartment last year as an investment in killegland Ashbourne town centre.
Deposit paid (12K). Its now ready for signing (Aug 2007). Its gone up by 15-20k since last year and there is still another phase in the development to be completed.
I would break even with all the costs e.g stamp duty, fees as it has appricated by the above amount.
As property market has slowed I am thinking should I pull out and loose my deposit? or rent it and hope for more captial appreciation when the final phase is completed? I have an interest only mortage and the rent would cover this (just about!)
Also can I sell it straight away? or do I need to own for six months?
Any advise
Thanks
I am looking for some advice
I purchased an apartment last year as an investment in killegland Ashbourne town centre.
Deposit paid (12K). Its now ready for signing (Aug 2007). Its gone up by 15-20k since last year and there is still another phase in the development to be completed.
I would break even with all the costs e.g stamp duty, fees as it has appricated by the above amount.
As property market has slowed I am thinking should I pull out and loose my deposit? or rent it and hope for more captial appreciation when the final phase is completed? I have an interest only mortage and the rent would cover this (just about!)
Also can I sell it straight away? or do I need to own for six months?
Any advise
Thanks