Time to sell and bank the cash?

davilown

Hi, just after opinions please.

Looking at selling our house after 6 years ownership. After overpayments and some good growth we should realise around £170,000 after expenses etc.

Were looking to sell now ad will probably emigrate to NZ late next year when my work contract ends. Accommodation in between will be through current job at relatively cheap rent.

Question is, is it best sell now whilst houses are going quite quickly where I live (Hampshire) or wait til closer the time?

I'm also slightly concerned that a house price correction (or at least leveling) may occur during this period. If it doesn't that's my risk.

Cheers

GreatApe

I wouldn't take the risk. What if you sell and before the end of next year the NZ emigration idea changes you might then be stuck renting or at least have to pay legals and stamp duty all over again to buy back in.

davilown

GreatApe wrote: »

I wouldn't take the risk. What if you sell and before the end of next year the NZ emigration idea changes you might then be stuck renting or at least have to pay legals and stamp duty all over again to buy back in.

Fair call, we decide we want to move area if we don't emigrate. Cheers

Conrad

davilown wrote: »

Question is, is it best sell now whilst houses are going quite quickly where I live (Hampshire) or wait til closer the time?

No one but no one could know the answer to this without a crystal ball


If you want play it safe then sell now and be happy with money in the Bank

PasturesNew

It's Hampshire ... if you wait for those in London who are thinking that to get round to selling up, they'll be heading your way to buy their retirement home ...

michaels

Just outside London and the market has ground to a halt, if you believe that this is part of a ripple effect then I would sell now if you can.

economic

it does look like london has peaked. i dont think the market will be booming for a whilst. sell ASAP. in normal times it can take months before you get an offer.

ModernSlave

Ask a few agents (older ones) in your area for how quickly houses are selling and if they are achieving asking price.
With higher inflation, London finance jobs leaving, lower immigration, and consumer sentiment changing it's worth doing as much research as you can. That said, sticking it on the market now to see what you get couldn't hurt either. Price for the market, not what hungry agents say to get you on the books.
Good luck in NZ, I hear it's lovely.

davilown

ModernSlave wrote: »

Ask a few agents (older ones) in your area for how quickly houses are selling and if they are achieving asking price.
With higher inflation, London finance jobs leaving, lower immigration, and consumer sentiment changing it's worth doing as much research as you can. That said, sticking it on the market now to see what you get couldn't hurt either. Price for the market, not what hungry agents say to get you on the books.
Good luck in NZ, I hear it's lovely.

Thanks - sorry for delay in replying but currently down under. OH just been offered a very good job and relocation package here as well so more realistic now!

Houses that are priced right sell before hitting right move - neighbours that needs some work sold last month for 400k so we'll not ask for more (they had a much bigger garden and extra parking space).

NZ or Aus now, just need to conbince the teenage kids......

davilown

ModernSlave wrote: »

Ask a few agents (older ones) in your area for how quickly houses are selling and if they are achieving asking price.
With higher inflation, London finance jobs leaving, lower immigration, and consumer sentiment changing it's worth doing as much research as you can. That said, sticking it on the market now to see what you get couldn't hurt either. Price for the market, not what hungry agents say to get you on the books.
Good luck in NZ, I hear it's lovely.

Thanks - sorry for delay in replying but currently down under. OH just been offered a very good job and relocation package here as well so more realistic now!

Houses that are priced right sell before hitting right move - neighbours that needs some work sold last month for 400k so we'll not ask for more (they had a much bigger garden and extra parking space).

NZ or Aus now, just need to conbince the teenage kids......

the_flying_pig

the stakes don't sound particularly high if OP will be emigrating very soon anyway, since I doubt we're currently on the verge of particularly high short-term falls or gains.

imo a lot depends on the " Accommodation in between will be through current job at relatively cheap rent." - if this is somehow subsidized or otherwise attractive then IMO selling now probably is a good option especially if OP has a reasonably clear idea what to do with the £170k inbetween now & emigration.


one option, as already suggested, would be to put it up for sale but only be prepared to accept top dollar since you wouldn't mind if a sale didn't happen until sometime in 2018.