Wait until neighboring newer property is sold?

[Kumar Gaurav]

Hello,

There is a brand new construction for a duplex going on right next to my home. The new construction has very similar prototype as my house except that my home can be used as a triplex but the newer one is strictly a duplex.

Of course the newer home will have all the bells and whistles of a newer construction that my 15 year will not have.

I am thinking of selling but I am not in a rush and I 've been toying with the idea of timing my sale with the other property.

I personally think the listing price and/or sale price of the newer construction will positively impact the value of my property.

If I put my property on sale right away I feel I may not be able to reap the benefits of the neighboring new construction.

I personally I think if I put my property on sale exactly around the same time the newer construction goes on sale,it will help me sell my property at an optimal price.

I am interested to hear thoughts from other experienced members. I will appreciate your inputs.

Thanks

[John Teachout]

It's not an apples to apples comparison so not sure that the prices are going to correlate that closely. There's been lots of new building codes adopted in the last several years (since yours was built) and these have increased construction costs. The market in most areas is red hot right now so if you want to sell, I'd put it for sale. As far as an income generator, it's possible your property would perform better as most tenants probably don't care if the range and dryer are protected by GFCI's and whether there's a whole house surge protector. You sure you want to sell? With upcoming inflation having cash lying around is not the best plan. (maybe you have other plans for the funds, just something to consider)