Am starting to build a 2 storey townhouse I will move into. The back one on the block is my PPR (only the 2 on the block – both 2 storey) Want to sell the PPR which will be CGT free. Had envisaged new t/h would be ready for occupation by me and PPR on market late Feb, however, old story – it hasnt happened. Do I a. rush through building new t/h and put PPRon market approx Jun/July. Agents tell me it is just as good, if not better to sell in Winter as there is no stock avail and people have to buy. My market would be older people downsizing, business couple or single parent and older children. It is a top suburb and most people just shift around between these 2 suburbs whether they want to upsize, upgrade, downsize whatever.
or b. trust the agent is right which brings me to my real question – do you all believe you get as much for a house sold in winter as summer
I guess if I don’t like the price I could pass it in and rent it out for six months until Summer and then sell. (Could I claim all depreciation, taxes aplicable to a new property, declare the rent and then shift in after six months?) I want to move on and tackle another project so my real question is, do you all believe you get as much or more for a house sold in winter as summerFern
Hey Fern,
This is just my opinion. There are too many factors that influence the sale price of a property. Season is just one. Supply/Demand are others, condition, etc, etc.So any set of numbers you get can be disproved by another set by making different assumptions.
As there are too many variables I would survey agents instead. I would carefully script up some key questions and ask a number of agents. Pose as both a buyer and seller as you may get different answers.
Be sure to challenge it. If an agent says its a “slower market” in winter. What does this mean? Does the price drop or does it take an extra few weeks to sell due to less people shopping?
Mat
Thanks Matthew,thats a good idea, I will talk to some agents
Fern
Hi fern,
I forget what state you are in. How cold does it get.
Do you need to finish it to sell it?
Can you arange a pre completion sale and get it on the market early in the new year while all the punters are hunting for stock.
cheers
Don
D&L Property Projects NZ Ltd
Sourcing Investments that fit.
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Email to receive current dealsHi DLPP, are you the old Don and Liz from NZ, in that case double hi. Yes I just came to that brilliant conclusion last week. If I can get the new T/H up and running enough, and put my existing PPR on the market late Feb early Mar, I will still catch the summer buyers, I would then have the 3 mths settlement to complete the new T/H PPR. We could even move in a bit unfinished. We are demolishing the old weatherboard between Xmas & NY, trouble is I can’t get slab poured before 2nd wk Feb, so it will be close. Weatherwise it doesn’t seem to get that cold in Melb anymore (but that is cyclical? too. It just seems everyone gets out and does more here in summer, including shifting. My market would be older people downsizing though and I suppose they have to do that anytime.
Fern
Hi Fern,
Yes that is us. Change is as good as a holiday. Sound like you are having fun.
Same as here in Invercargill. It is braod daylight till 10pm (maybe 9.30) but it feels strange and it gets hard to sleep. So everyone is out and about doing things and working till around 8pm. Winter everyone wants to stay inside.
D&L Property Projects NZ Ltd
Sourcing Investments that fit.
[email protected]
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