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BigBelm

Need Advice On When To Sell In Stratford E15

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As a newbie to this forum, with less business acumen than your average, i was hoping someone may be able to offer me some practical advice on the timing of putting my Stratford property on the market.

I bought a victorian terrace on one of the best roads in the whole borough (a happy accident). Its 3 beds, living room, dining room, big kitchen with dining area and a 40ft garden. Its now starting to look quite nice as I have been slowly making progress with the interior & exterior - It had so little done to it in way of modernisation that it had all the original features, doors, skirtings, fireplaces etc. I wont be ready to sell for 2 years as i cant afford to get everything finished until then

My dilemma is this, i think its worth around 280,000, which is the same price as one of the new flats thats being purpose built in the investors blocks - but when should i sell?

The construction schedule for the area looks like this:

2006 - Stratford City construction starts ('000's new homes included)

2007 - Channel Tunnel link opens

2009 - Stratford City phase 1 complete (not sure what it entails)

2012 - Olympics

2012 - Gateway Bridge across Thames opens

2013 - Crossrail should open - additional tube line to central london

2020 - Stratford City complete

Within that schedule is a LOT of new flats. As i said, mine is a period property with original features, so will that put me ahead of the new flats? Or will new flats just flood the market? Should i sell before the Olympics on the back of the Olympics gravy train?

If i was really going to land on my feet at a later date, i could rent it out in the future if it would be potentially my nest egg.

thanks in advance

Edited by BigBelm

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It sounds as though you're quite attached to the place.

You don't say how long ago you bought, but if it was a few years back, and you like the place, how about using it as a place to live, not a one-arm-bandit, as many people now do. Maybe you'd be happiest just living there?

Alternately, if you want to make money, why not try selling now?

It won't cost you anything, and with the current hype you may find some muppet who will pay too much. Even if you haven't finished the work.

You have also raised something which hasn't been discussed ad nauseum on HPC (yet) <_< .

Of course the EA's, mortgage companies tell us how prices rocketed in cities before the Olympics.

What they didn't mention is that these booms were already under way, and that they were followed by severe corrections (Barcelona, 1992, Sydney now).

They also forget to mention cities where prices slumped (Atlanta)

It does sound as though you are doing your research and considering the options.

It's often useful writing your thoughts, when I have to make a big decision I draw a line down a piece of paper and write the pro's on one side and the cons on the other.

It just helps to clarify my thinking.

At the end of the day you're the one who has to live with the decision.

But it sounds like you're going about it the right way.

Edited by BandWagon

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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