Lots of equity + place to live. Would you sell now and hope the market falls?


#1

I have a lot of equity in my home. I also have somewhere to live (family) for zero/nominal rent should I decide to sell. No kids or dependents. Am thinking of trying to sell now, hoping the property market drops significantly due to recession in 2020. Result being, in 2021/2022 I could buy a house again plus have a significant amount of cash left.

Would you sell now?


#2

The last crash started in 2008 and bottomed in Dublin 4 years later, any correction we are now facing isn’t of the same magnitude methinks and could be shorter or longer than the crash… You would be committing to several years of living at home in order to preserve capital gains. If you are currently paying a mortgage then I suppose you factor in savings on mortgage interest.


#3

That’s fair @owenm . 4 years wait is more realistic. Thank you.


#4

There was big talk of markets crashing 3-4 years ago and I think someone on here moved their pension out of stocks and into cash, waiting to buy back in at the bottom. That wouldn’t have worked out so well.


#5

No, that doesn’t sound great @Quango_Unchained, but I feel like we’re much further along now.


#6

A ten minute walk around any area of Dublin right now will show you more ‘for sale’ signs than ever before, and people are taking note, spend ten minutes in your local and someone is sure to mention the number of properties for sale. Some take it as a positive, but most see it as a negative, perhaps fear of what Brexit is going to do to us, or maybe just uncertainty, neighbours looking to cash in simply because everyone else on the road is trying to, copycat behavior that may or may not be justified, these are the most uncertain times our country has faced for over 70 years, which is why the flight to cash makes sense for those who can manage it