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Old 24.04.2020, 17:55
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Re: Sell or not to sell

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Thank you for sharing your view LuganoPirate. Media also support it, commercial buildings will take a larger hit than residential, if they do at all.
In light of that wondering if a response to that is "mass" conversion from commercial property to residential, hmmm which is not very likely cities need commercial buildings I suppose.

The neighbour would be interested only in the whole house, same plan as I had buy the house rent one unit and live in the other.
On the other hand, if you could find something similar perhaps for less, take the neighbour up on his offer. If you buy something else, and it's your main residence, the tax is effectively deferred, so you'd have the whole 70K to put in.

However, as others have said, you bought for the long term. That was your plan and since the rent is likely to cover all the bank interest and probably your running costs and a bit more, I'd stick with it and not worry about any short term fluctuations.

As for commercial going to residential, that would take years, as a change of destination would be needed and that can take years. Besides, many commercial properties are commercial on the ground floor, and above can be offices and / or apartments.
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corona, hosing, property, real estate, recession




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