Browse Forums Building A New House 1 Mar 16, 2014 1:09 pm Hello All! One of my biggest stresses at the moment is this... when do I sell my current home? We are just the start of building a double story Burbank house (Slab was laid last week). But when do we put our house on the market? It seems to me you just have to take a chance and give it your best guess at when settlement on the new house will be, and then plan a date for settlement on the old. My biggest worry is if the house get delayed we may be homless for a few days, weeks or month. I'd love to hear any advice or experince you guys have had? Thanks! Colours - 12/12/13 Contracts - 4/2/14 Slab - 12/3/14 Frame - 26/3/14 Lockup - 21/5/14 My Thread viewtopic.php?f=31&t=70419 Re: I'm Building but when should I sell my current home? 2Mar 16, 2014 1:22 pm I think I'd be putting it on the market right now, as you won't know when someone with serious intents on purchase will turn up to buy it. You might get a buyer the day it goes on the market, or you might be waiting a year for that buyer... no idea of what you current house is like, so all just guesses and assumptions here. Owner Building at Jimboomba Woods in Logan City Qld. Blog : http://bandlnewhomebuild.blogspot.com H1 thread : viewtopic.php?f=38&t=68283 . Re: I'm Building but when should I sell my current home? 3Mar 16, 2014 2:54 pm put it on the market and when it sells ask for a long settlement Re: I'm Building but when should I sell my current home? 4Mar 16, 2014 3:38 pm It'd be wiser to put it on the market as soon as possible, but depending in your situation - ie: if you can afford to bridge finance paying 2 mortgages if the home doesn't sell, then I guess it's not as big of a concern. Also depends on the house you are trying to sell, a good agent should be able to give you a realistic sales timeframe for your house type, price bracket and area. However, as mentioned above, long settlement or rent back to the new owners for a short period of time are both options too. More ideal again is to sell up as quickly as possible, stay with family for a few weeks & pop your things in storage. It's always going to be a juggle, but it really depends on what your situation is. Thread: viewtopic.php?f=31&t=66299 Slab: 16/6/14 Frame: 4/7/14 Roof: 22/7/14 Lock Up: 20/8/14 Fixing: 26/8/14 PCI: 9/10/14 Handover: 20/10/14 Re: I'm Building but when should I sell my current home? 5Mar 16, 2014 4:32 pm I'm in the same boat. I've been researching and keeping up with comparable homes to mine in my suburb and what they are being sold for and how long it's taking them to sell. Like you I didn't want to be homeless in between houses, or even paying rent to new owners. My plan is to put my current house on market when the new house is at a certain point of lock up construction. In my situation I want the new house finished first and ready to move into before I've had settlement on my current house. That way we can put the fences up, install flooring and heating that we are doing ourselves. Best bet is to compare your house with others similar in your area and see how long they take to sell. If you need to have changeover of both houses around same time ensure something is in Your contract to cover yourself. Good luck. Re: I'm Building but when should I sell my current home? 6Mar 16, 2014 8:02 pm ditto with greycell. I'm using the build time to fix things up in our current house, not necessarily to achieve a higher return but simply to ensure a quick sale. I hope that 2 months from handover will be a good time to list it, even without formal inspections it will give prospective buyers a chance to research to area, do drive bys, work out finances etc. Re: I'm Building but when should I sell my current home? 7Mar 16, 2014 8:05 pm Hi All, Thanks for the responses. I don't want to put too many clauses in to put off buyers. If I could I would be asking long settlement, a settlement that can be set once we know the settlement on our new house, an option to rent it back etc. If we have to move in some where else, we will. But moving twice and with elderly parents who don't have a lot of patience for kids it's not the ideal situation by far! I suppose there is not certain way to tackle it.... Just have to make a decision and hope it is right! Colours - 12/12/13 Contracts - 4/2/14 Slab - 12/3/14 Frame - 26/3/14 Lockup - 21/5/14 My Thread viewtopic.php?f=31&t=70419 Re: I'm Building but when should I sell my current home? 8Mar 16, 2014 8:07 pm Marmalade ditto with greycell. I'm using the build time to fix things up in our current house, not necessarily to achieve a higher return but simply to ensure a quick sale. I hope that 2 months from handover will be a good time to list it, even without formal inspections it will give prospective buyers a chance to research to area, do drive bys, work out finances etc. We are doing the same. We have been busy tidying up and de cluttering so hopefully the sale will happen more quickly. Good luck! Colours - 12/12/13 Contracts - 4/2/14 Slab - 12/3/14 Frame - 26/3/14 Lockup - 21/5/14 My Thread viewtopic.php?f=31&t=70419 Re: I'm Building but when should I sell my current home? 9Mar 16, 2014 8:48 pm start decluttering and if you can move as much into storage . my house started in november 2012 i put the house on the market mid jan 2013 aand it sold in three weeks . i asked for a long settlement which worked for both the buyer and myself with perfect timing but you never know what will happen so i would put the house on the market and all the best isn't a garage level with the rest of the house a given? pretty sure they 'came around' long time ago. if you have a flat block, the garage is usually level with the rest… 1 17511 2 5908 Hi Everyone, wondering if anyone has done a prestart lately with summit homes in WA and what kind of costs were associated with adding gpo's and downlights? we are also… 0 3848 |