Should I trade up now from an apartment?

C

club92

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anyone any ideas on if i should trade up now from apt to house - or hold off as this stagnation at top end of market seems to be coming down to middle sector of it? a lot of semi d s that went up 20% last year cant even sell now???
 
Hi Club92,

How did you get on with the 3bed semi d in Lucan?

aj

club92 said:
I have a 3 bed semi rented out in lucan, got it in 2001 and it has done very well for me i'm glad to say (but i hope i dont sound smug!). Anyway was thinking of taking the cash and selling mainly because i fear a property crash/recession. I have no real base for this view just a bad feeling that things are going bad. has anyone any views on whether i should cut and run - very open question i realise but am just turning to askaboutmoney for some opinions?
It does seem that three bed semis are doing well at the moment so maybe i should hold onto it.
undecided!
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got on grand thanks - cashed in my chips for a fair price! - i note prices have gone up a bit in that area since i sold but currently they seem to be falling and loads are for sale - any views on my question aj?
 
How long is a piece of string?

If you wanted to live in a house, you would have been better to sell your apartment and move into the previously rented house as your PPR. The way you've gone about things has cost you more in taxes (CGT) and in transaction fees (stamp duty etc.).

If you have an apartment, but want a house instead, then sell the apartment and buy a house if you find one you like and can afford for a 'fair price'. If as you say the houses you are looking at are coming down in price, that could mean it's a good time to buy.
 
club92 said:
anyone any ideas on if i should trade up now from apt to house - or hold off as this stagnation at top end of market seems to be coming down to middle sector of it? a lot of semi d s that went up 20% last year cant even sell now???
Click to expand...

Yes. I believe that in a couple years that there would be a lot of apartments on the market for sale, from people who wish to trade-up like yourself.

EDIT: I'm too sad answering this on a Friday night, when the WGC Match play quarter finals are on :-C
 
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