Exit decisions start with one simple question that most investors skip.
The Forgotten Question
You Knew the Answer Once
Most investors obsess over price, timing, and market conditions when buying. Very few revisit the original role of the property later on.
Take someone who bought a Melbourne apartment while living in London or Brisbane. At the time, they told themselves it might be for retirement or a future family home. Fast forward five years, and they are settled interstate with careers and lives built elsewhere. The idea of returning feels distant, but the property remains, unchanged, waiting for a plan that may no longer exist.
Property does not automatically update itself when your life changes. It doesn’t adapt to new careers, relationships, or lifestyle shifts. Revisiting the original question – why did I buy this? – is often uncomfortable but necessary. It forces clarity and prevents decisions driven by habit or nostalgia rather than strategy.
Every Property Has a Job
What Was It Hired To Do
Every property is acquired with a role in mind. Over time, that role may be forgotten or blurred. Broadly, there are three possible roles:
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Pure investment – Intended primarily for rental income or long-term capital growth. These properties are measured by numbers: cash flow, yield, and appreciation. Personal use is rarely considered.
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Future lifestyle asset – Bought with the intention of being lived in personally. Perhaps a home to retire in, a weekend escape, or a family base. Emotional value and future enjoyment are central.
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Flexible dual purpose – A hybrid: part investment, part lifestyle. It might be rented for income now, but with the potential for future personal use.
None of these roles is right or wrong. The key is recognizing what the property was meant to do, so you can judge whether it still fulfills that function today.
When Roles Drift
Plans Move. Property Doesn’t.
Life evolves, but property is static. Career relocations, family changes, children finishing school, retirement plans shifting further away, or a lifestyle pivot can all drift you away from your original plan.
Emotional attachment often creeps in quietly. The house you dreamed of living in may become “just part of the family,” or the investment property may feel safer than selling, even when numbers suggest otherwise. Without assessing whether the property is still serving its original purpose, your exit decisions may be reactive rather than strategic.
Personal Use Test
Be Honest
Ask yourself: Is this genuinely part of your future, or just a comforting idea?
One real example shows how clarity of purpose matters and can change everything. In the Alfred Street, Prahran case study, buyers Ben and Rebecca paused their search for years because their role for a property was unclear. Once they defined what the property needed to do, whether lifestyle, investment, or both, they acted decisively and secured a home that truly fit their goals.
If you can clearly picture yourself or your family using this property, for weekends, holidays, or long-term living, it remains a lifestyle asset. If that plan feels vague, distant, or “maybe someday,” it is probably functioning purely as capital. This distinction is not about discouraging attachment, it is about honest alignment with what the property is for now.
Knowing whether a property is an emotional anchor or a financial tool helps avoid costly hesitation and ensures every exit decision is intentional.
👉 Read more about how they discovered and clarified their property's role and made confident decisions.
START is Not Just for Buying
Clarity Before Action
In The Shortlist Method, START defines what the property is and what role it plays. That same clarity is required before deciding whether to exit. By revisiting START, you force yourself to confront the property’s identity: is it personal, investment, or dual purpose? This clarity ensures your next steps are deliberate, not reactive. Exit decisions, like acquisitions, benefit from defined roles and clear intentions.
START | SMART | 360 Connection
This article relates to START. In The Shortlist Method, START defines what the property is and the role it plays. Exit decisions require the same clarity about identity and purpose before timing or execution is considered. Revisiting START prevents hesitation and ensures your actions align with both life and market realities.
