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HELP! Should we stay or should we go?
Simon_Legg
Posts: 5 Forumite
My wife & I recently considered putting our house on the market. We’ve lived in the current house for over 5 years and now fancy a change of location.
I mentioned this to a friend who works in local government who (through his work) is quite knowledgeable on property in and around the South Wales area. He’s advised us to stay put as the area we live, (Langstone in Newport) is adjacent to the Celtic Manor Resort, which is hosting the 2010 Ryder Cup. He (and two of his colleagues) predict that this will sky rocket the prices of houses in the immediate area. In particular our location and another neighbouring area, Caerleon.
They’re so confident, that they’re already investing in exec. level properties in both areas, which they plan to rent out and then sell at the optimum time!
Our dilemma is; while our friend has a track record of making money from property (and thus some credibility) I have a gut feel that he and his colleagues are wrong in this case. I can understand that key development and investment in an area can increase property prices, but what we’re talking about here is a single sporting event, and I cannot believe that a glorified golfing weekend for the rich and famous could increase the value of my property that much! ….and the last thing I want to do is hang around in my current house for another 3 years on the off chance it might!
That said, I have to admit, if I saw my old house for sale at a stupid price in 3 years time, I’d be somewhat peeved to say the least, so I’d appreciate anyone’s opinion or perspective on this!?
I mentioned this to a friend who works in local government who (through his work) is quite knowledgeable on property in and around the South Wales area. He’s advised us to stay put as the area we live, (Langstone in Newport) is adjacent to the Celtic Manor Resort, which is hosting the 2010 Ryder Cup. He (and two of his colleagues) predict that this will sky rocket the prices of houses in the immediate area. In particular our location and another neighbouring area, Caerleon.
They’re so confident, that they’re already investing in exec. level properties in both areas, which they plan to rent out and then sell at the optimum time!
Our dilemma is; while our friend has a track record of making money from property (and thus some credibility) I have a gut feel that he and his colleagues are wrong in this case. I can understand that key development and investment in an area can increase property prices, but what we’re talking about here is a single sporting event, and I cannot believe that a glorified golfing weekend for the rich and famous could increase the value of my property that much! ….and the last thing I want to do is hang around in my current house for another 3 years on the off chance it might!
That said, I have to admit, if I saw my old house for sale at a stupid price in 3 years time, I’d be somewhat peeved to say the least, so I’d appreciate anyone’s opinion or perspective on this!?
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Comments
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Its like going for the green instead of laying up infront of the bunkers and yellow staked water hazard. You could be a hero and go for it with a possible reward of getting a birdie, but it could cost you a bogey, possibly a double bogey. Most golfers I play with who do well consistently, do it by laying up, the eratic ones tend to go for it, sometimes they birdie sometimes they plop!I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
That also means I cannot share in any profits from any decisions made!;)0 -
.........stay0
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