Nick and Chloe Bailey have given up selling their new home in HillClose, and are renting it out instead.
Nick and Chloe Bailey have given up selling their new home in HillClose, and are renting it out instead. Brenda Strong

Couple opts to rent out new home rather than sell

WHILE low interest rates may be attracting new buyers into the market, Gladstone residents Chloe and Nick Bailey have decided renting out their property was the way to go.

The young couple had attempted to sell a HillClose development home they purchased in May 2012.

Buyers warned not to get trapped by low interest rates

The off-the-plan home had been due for completion in December, but ongoing delays meant the couple was eager to move into a place of their own.

Before they decided to sell, most of their possessions were in storage and they were living with Chloe's parents

However, they also had another motivation. The pair had a baby on the way by the end of January, and needed to upsize.

While they did go to an agent to handle the sale, they also tried their hand at advertising the property on Facebook while the agent paperwork was going through.

Mr Bailey said advertising on Facebook had generated a number of inquiries.

"We did get a fair bit of interest on Facebook, but in the end we actually decided to rent out the property so we ended up pulling the ad," he said.

He said the couple had been quite surprised at the number of inquiries they ended up receiving.

Mr Bailey said the couple made the decision to secure an ongoing profit rather than not being able to sell the home.

"We decided to rent to give ourselves a good income stream, and the tenants have been great so far so it worked out pretty well."



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