Hi All
I was wondering what people's thoughts were on when, in general, is the best time to sell an off the plan unit (if at all).
Please ignore the current situation where there is a possibility of an upcoming over supply of units.
Lets assume we are in a slow growth phase, & a unit was purchased say 18 months ago, & will be completed soon. The unit could be sold for a decent profit, say 15% more than the purchase price.
I was thinking that rather than complete & hold, it may be better to sell & take a profit. Then with the money that would have gone into the new unit, buy an old unit (or house), which theoretically should achieve better growth.
The reasoning being that growth on new units is slow for the first few years because of the newness factor. Much like a new car losing a lot of value after its driven out of the showroom.
So the best time to sell an OTP is when it is just completed, give or take a couple of months ?
Any views on this ?
I was wondering what people's thoughts were on when, in general, is the best time to sell an off the plan unit (if at all).
Please ignore the current situation where there is a possibility of an upcoming over supply of units.
Lets assume we are in a slow growth phase, & a unit was purchased say 18 months ago, & will be completed soon. The unit could be sold for a decent profit, say 15% more than the purchase price.
I was thinking that rather than complete & hold, it may be better to sell & take a profit. Then with the money that would have gone into the new unit, buy an old unit (or house), which theoretically should achieve better growth.
The reasoning being that growth on new units is slow for the first few years because of the newness factor. Much like a new car losing a lot of value after its driven out of the showroom.
So the best time to sell an OTP is when it is just completed, give or take a couple of months ?
Any views on this ?