PHOTO: Jian Cheng is a landlord who’s fed up with the huge land tax. Picture: Mark Stewart
Jian Cheng Decides to Sell Investment Property in Victoria and Relocate to Queensland
Unhappy with Rising Costs, Nurse Prepares for Move
Jian Cheng, a 49-year-old nurse, has reached her breaking point as a landlord in Victoria. Frustrated with the increasing land tax and other expenses associated with owning her investment property in Mooroolbark, she has made the decision to sell it and pursue a fresh start in Queensland.
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With her property now on the market, Jian Cheng plans to follow up by listing her Caulfield family home for sale as well. Despite being ordinary, hardworking individuals—Jian Cheng works as a registered nurse, while her partner is an IT consultant—she has found it increasingly challenging to cope with the mounting costs.
She highlights the booming property prices in Brisbane as a significant factor in her decision. While the land size of their Mooroolbark property is considerable, the small size of the house means that the rental income doesn’t increase substantially. This, coupled with rising land tax, has prompted Jian Cheng to reevaluate her retirement plans.
Initially, the couple invested in property with the goal of paying off their mortgages through tax incentives, ensuring financial independence in their later years. However, the escalating costs have disrupted their intended trajectory. Jian Cheng emphasizes the need to sell their properties to secure a comfortable life without the constant worry of future interest rate hikes.
She expresses concerns about the uncertainty surrounding the government’s future policies, particularly referring to the current Victorian government under Dan Andrews. Jian Cheng perceives the government’s every move as being against the interests of the people.
Jian Cheng’s investment property at 13 Larbert Rd, Mooroolbark, has been listed for sale with an asking price range of $780,000 to $850,000 through Chris Price at Stockdale & Leggo Croydon.
SOURCE: REALESTATE.COM.AU