Time to sell - Sept or Feb?

A

Art

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I have decided to sell an investment property that I have had since 2001. The house is a 3 bed semi d with study in Drumcondra.

I am just wondering whether people think I should sell in September or hang on until February. Also would it be worthwhile investing in some minor redecoration i.e. stripping of wallpaper, repainting, retiling of the bathroom etc

I am in no urgent need for the cash.
 
busy times for estate agents

can you get a short term rental in to cover the months to christmas?

a few hundred euro cleaning the place up can add a lot to the value
 
I'd get it on the market today. The longer you wait, the greater the risk of a price correction becoming a reality. All the warning signs are there. What makes you think other investors aren't thinking the same as you? Selling times have been increasing, so get it out on the market and hopefully you'll have it sold before the September rush begins.
 
I know drumcondra/glasnevin well,the rates of increase in last 18 months have been spectacular but as bank of ireland said today rates will slow to around inflation which is a bank way of saying growth rates will dramatically fall in next year. i'd sell asap if you intend selling, crystalise your gains while you can and before all the other investors seeing low or negative growth head for the exits.
 
Have to say I'm amused by all the comments I have read in the property investment section over the past number of weeks advising people to run as quickly as their legs will take them to the nearest auctioneer and flog the investment property as quickly as is possible(which is probably already too late) as there will be a torrential flood of other panic stricken investors once the leaves start turning brown.
Just a comment
Isn't property still a long term investment? Ok a house values at E500 today might be worth E400 next year. Big deal. If it's let and paying most of its way what's the big problem? Its a very strong probability that in 2016 the house will be worth at least E500k and quite possibly E1,000,000 if things turn around again which these things generally do.

I do agree that if prices are starting to soften or slip a little but I'm afraid lads that if you are selling now to get in before the flood you've probably missed the boat.

I agree with Michael O'Leary. The best time to sell is when everyone is buying and the best time to buy is when everyone is selling. I'm going to keep my eyes open for a bargain!
Good luck to ye all!
nbc
 
nbc said:
Have to say I'm amused by all the comments I have read in the property investment section over the past number of weeks advising people to run as quickly as their legs will take them to the nearest auctioneer and flog the investment property as quickly as is possible(which is probably already too late) as there will be a torrential flood of other panic stricken investors once the leaves start turning brown.
Just a comment
Isn't property still a long term investment? Ok a house values at E500 today might be worth E400 next year. Big deal. If it's let and paying most of its way what's the big problem? Its a very strong probability that in 2016 the house will be worth at least E500k and quite possibly E1,000,000 if things turn around again which these things generally do.

I do agree that if prices are starting to soften or slip a little but I'm afraid lads that if you are selling now to get in before the flood you've probably missed the boat.

I agree with Michael O'Leary. The best time to sell is when everyone is buying and the best time to buy is when everyone is selling. I'm going to keep my eyes open for a bargain!
Good luck to ye all!
nbc
Click to expand...

Agreed. Except if you can realise gains now and invest elsewhere (property is only kind of investment) then it is the logical path to take. Its risk assessment. If in your example the house is worth the same in 2016 you will have lost in real terms as you will have gotten a negative return on the equity built up in the place.

Buy low sell high. Very true. Oldest investment rule there is. The only trick is to know when its low and not just hit a crevice on the way down to the bottom.
 
Sell in September it's a great time to sell. I sold last year in september.

Ensure that you get your property maximum exposure. Ensure your house
gets on myhome.ie daft.ie and into the property supplement if possible.
It'll cost a few hundred.

Sell now maximise your profit.
Waiting until February I fear would be too late you may find your profit falling between now and then. Dublin House prices have only one way left to go.
 
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