Hello All,
My parents have a piece of land at a beach area in Vietnam. They bought it for $30,000 in 2010. Value peaked in 2019 but because of Covid 19, the real estate market stays put. Now the estimated value of the land is around $200,000. If sold, the money will be shared equally by 3 children (I'm one of them).
The question is: should my parents continue to keep the land for a few years more to wait if the value goes up. Or should they sell it now so each of the children would get around $60,000 to invest (for example VTSAX)? Of course if I and my siblings need the money now, we would convince our parents to sell. But we can survive without that money.
But in your opinion, which way is better? Sell the land later or now?
Thank you.
My parents have a piece of land at a beach area in Vietnam. They bought it for $30,000 in 2010. Value peaked in 2019 but because of Covid 19, the real estate market stays put. Now the estimated value of the land is around $200,000. If sold, the money will be shared equally by 3 children (I'm one of them).
The question is: should my parents continue to keep the land for a few years more to wait if the value goes up. Or should they sell it now so each of the children would get around $60,000 to invest (for example VTSAX)? Of course if I and my siblings need the money now, we would convince our parents to sell. But we can survive without that money.
But in your opinion, which way is better? Sell the land later or now?
Thank you.
Statistics: Posted by avgguy1 — Sat Jan 20, 2024 3:45 pm — Replies 3 — Views 345