We've been offered $290k for our property. Is it worth selling?

Q.

We have a property in Newcastle, NSW, valued at $300k, renting for $240 a week, and with a loan of $230k. We have been offered $290k for the property but are unsure if we should take that opportunity? Should we sell or hang onto it?

Your best strategy depends on your opinion of the potential capital growth in the property and what other properties you could buy if you sold it. A good question is to ask yourself "if I had $290,000 in the bank, would I buy the property I have now, or would I buy something else". Don't forget to take capital gains tax into account when doing the calculations.