Parley Posted September 20, 2016 Share Posted September 20, 2016 Can any real estate gurus tell me how you capture the value if your home has gone up in value ? Is the only way to move to a cheaper suburb further out of the city ? Quote Link to comment Share on other sites More sharing options...
bristolman Posted September 20, 2016 Share Posted September 20, 2016 Yes it's commonsense, the only way you can benefit is to go to a 'worse' area. Quote Link to comment Share on other sites More sharing options...
Guest241083 Posted September 20, 2016 Share Posted September 20, 2016 ...........you could buy somewhere smaller..... ...........same area ,smaller place... Quote Link to comment Share on other sites More sharing options...
Parley Posted September 20, 2016 Author Share Posted September 20, 2016 Yes I suppose that is the only thing to do. Quote Link to comment Share on other sites More sharing options...
Keith and Linda Posted September 20, 2016 Share Posted September 20, 2016 Can any real estate gurus tell me how you capture the value if your home has gone up in value ? Is the only way to move to a cheaper suburb further out of the city ? Down size? if you can. we have just done that, same area, same size block still a 4 bed home but low set not two storey and all the rooms generally smaller. So now buying in UK so have somewhere to stay for our longer visits when retired. Quote Link to comment Share on other sites More sharing options...
newjez Posted September 20, 2016 Share Posted September 20, 2016 Can any real estate gurus tell me how you capture the value if your home has gone up in value ? Is the only way to move to a cheaper suburb further out of the city ? The value hasn't increased. The price has been inflated. Imagine you had a cow. If your cow had a calf, you could sell the calf, you still have a cow. But if cows suddenly became the in thing to have and doubled in value, it does you no good. It would do you harm if you needed to replace your cow. Now, if you had a herd of cows and only needed one... Quote Link to comment Share on other sites More sharing options...
Parley Posted September 20, 2016 Author Share Posted September 20, 2016 I could probably sell my house move 10 km further out and buy 2 houses. 1 to live in and 1 investment property to rent. But the benefit of staying in my place is if it keeps going up in value that is CGT free. But you have to sell to get the benefit of the increase. Quote Link to comment Share on other sites More sharing options...
Guest Posted September 20, 2016 Share Posted September 20, 2016 Do what you Victorians love doing, sell up and retire in QLD and enjoy your spare cash and better weather. Quote Link to comment Share on other sites More sharing options...
Guest241083 Posted September 20, 2016 Share Posted September 20, 2016 ........it depends why you want to move..... .........downsize to free up money...? ..........place too big now...? ...........it costs to move.......so you would have to be sure it's a viable and wanted action.... Quote Link to comment Share on other sites More sharing options...
Parley Posted September 20, 2016 Author Share Posted September 20, 2016 I don't really want to move, but it would be nice to get the money. Quote Link to comment Share on other sites More sharing options...
Guest241083 Posted September 20, 2016 Share Posted September 20, 2016 ..........look for something you like as much.........for as little as you can...! ..........IMO it's not easy finding anything for less as you have to accept doing without things you've got used to....! ..........easier if the home your in is too big.......but if moving just to free up money... ..........what are you prepared to do without...? Quote Link to comment Share on other sites More sharing options...
Perthbum Posted September 20, 2016 Share Posted September 20, 2016 I could probably sell my house move 10 km further out and buy 2 houses.1 to live in and 1 investment property to rent. But the benefit of staying in my place is if it keeps going up in value that is CGT free. But you have to sell to get the benefit of the increase. So does all the other houses, yours goes up and so does the houses you want to buy.....just stay in your shed mate. Quote Link to comment Share on other sites More sharing options...
Perthbum Posted September 20, 2016 Share Posted September 20, 2016 I don't really want to move, but it would be nice to get the money. And when you sell it it will be worth a lot more in 5 years time than you sold it for but the smaller house you bought will not have increased that much so you will infact be worse off. Quote Link to comment Share on other sites More sharing options...
starlight7 Posted September 20, 2016 Share Posted September 20, 2016 Smaller houses seem to fetch just as much and more than the bigger ones round here for some reason- guess they are easier to look after. Our house seems to have quadrupled in value since 1992 when we moved here. Our previous house, however, has gone up about 6 or 7 times what we got for it because it is a bit closer to the freeway. Just really feel for those without a toehold in the market. Quote Link to comment Share on other sites More sharing options...
Perthbum Posted September 20, 2016 Share Posted September 20, 2016 Smaller houses seem to fetch just as much and more than the bigger ones round here for some reason- guess they are easier to look after. Our house seems to have quadrupled in value since 1992 when we moved here. Our previous house, however, has gone up about 6 or 7 times what we got for it because it is a bit closer to the freeway. Just really feel for those without a toehold in the market. to the individual the price of your home means nothing as all the other houses you might want to buy bare also going up. In fact if you want to buy a better house you are losing out. Quote Link to comment Share on other sites More sharing options...
bunbury61 Posted September 20, 2016 Share Posted September 20, 2016 I could probably sell my house move 10 km further out and buy 2 houses.1 to live in and 1 investment property to rent. But the benefit of staying in my place is if it keeps going up in value that is CGT free. But you have to sell to get the benefit of the increase. The saddest thing I see on my travels all over the u.k ,is seeing elderly people rattling around in houses that are way too big for them . 4 or 5 bedrooms they don't need . Extensive garden to be kept ...roofs and internals to be maintained. Sod that ....we had a place earmarked ...a gentlemans agreement for 3 years time ....that has been brought forward ,as the sellers are going now . Phase 3 ( if it is a phase ) starts soon .... We have brought the kids up ,took them around the world ...given them great schooling in a decent area ..SOON IT WILL BE OUR TURN ,and ee are in the right place to do it ...europe . Although you could spend every elderly weekend seeing stuff in the u.k . Quote Link to comment Share on other sites More sharing options...
newjez Posted September 20, 2016 Share Posted September 20, 2016 I don't really want to move, but it would be nice to get the money. I would be very careful about one of those equity release things. I've heard bad things about them. Quote Link to comment Share on other sites More sharing options...
Parley Posted September 20, 2016 Author Share Posted September 20, 2016 I would be very careful about one of those equity release things. I've heard bad things about them. No. I agree I would never do a reverse mortgage. The only thing would be to sell, and either rent for a while or buy something smaller. Quote Link to comment Share on other sites More sharing options...
Perthbum Posted September 20, 2016 Share Posted September 20, 2016 no. I agree i would never do a reverse mortgage.The only thing would be to sell, and either rent for a while or buy something smaller. you sell your house and in 5 years it will be worth a lot more....your smaller house will n ot rise at the same rate so your assets are considerably less. Quote Link to comment Share on other sites More sharing options...
Parley Posted September 20, 2016 Author Share Posted September 20, 2016 You are right I think Perthbum, but I suppose it also depends on what you do with the money you get from the sale. If the property market has peaked then it could be a good move, but it is risky. Quote Link to comment Share on other sites More sharing options...
Melbpom Posted September 22, 2016 Share Posted September 22, 2016 I could probably sell my house move 10 km further out and buy 2 houses.1 to live in and 1 investment property to rent. The problem is the $40k or so you'd have to pay the real estate agent then the two lots of stamp duty to buy the new properties. I'm looking at Purple Bricks at the moment. Real estate agent fees of $4-5k seem too good to be true. Anyone used them in the UK? Quote Link to comment Share on other sites More sharing options...
starlight7 Posted September 22, 2016 Share Posted September 22, 2016 Another thing that is a worry is the neighbours- you really don't know much about them and whether they are noisy etc until you have moved. We have very quiet neighbours and hardly ever see any of them( a lot of trees and fairly big blocks) plus, being a narrow cul-de-sac no burglars in all the years we have lived here. Quote Link to comment Share on other sites More sharing options...
newjez Posted September 22, 2016 Share Posted September 22, 2016 The problem is the $40k or so you'd have to pay the real estate agent then the two lots of stamp duty to buy the new properties.I'm looking at Purple Bricks at the moment. Real estate agent fees of $4-5k seem too good to be true. Anyone used them in the UK? People seem to be unrealistic with the price. Apart from that, do estate agents actually do anything? Quote Link to comment Share on other sites More sharing options...
bristolman Posted September 23, 2016 Share Posted September 23, 2016 The problem is the $40k or so you'd have to pay the real estate agent then the two lots of stamp duty to buy the new properties.I'm looking at Purple Bricks at the moment. Real estate agent fees of $4-5k seem too good to be true. Anyone used them in the UK? 40k for the real estate agent, why would it cost that much ? Quote Link to comment Share on other sites More sharing options...
Parley Posted September 23, 2016 Author Share Posted September 23, 2016 40k for the real estate agent, why would it cost that much ? They take about 2%. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.