Hi everyone - we currently live in an apartment - almost completely paid off, and will start building March/April 2008 (fingers crossed!)
Eventually - we'll need to sell our apartment - but we can afford 3 different options:
1. Sell apartment by end of this year, rent near our site for 6-12 months
2. Sell apartment when construction starts (March/April) - rent for a few months
3. Live in apartment until construction is completed and we move in - then sell
Right now we live a good 45min - 1hr drive from our site. I'm a bit worried about not being able to pop in and see the place every few days - we'd only have time to be able to get out there on weekends.
I'm trying to do some calculations of how much each option could cost - things I'm considering are:
* selling price now vs. selling price in 6-12 months (especially if we get another interest rate increase) - we've been told the unit would easily sell for $350k in 6-12 months, but right now they could get us between $360-380k (I don't know if this is agent scaremongering though!)
* cost of rental property
* cost of moving twice
* cost of connecting utilities at rental property (I wonder if there is a disconnection fee as well)
Can anyone recommend any other costs I should consider?