I had planned to sell our family cottage and an investment property next year. With the recent budget change and the expected capital gain from the sale of these two properties being more than $250,000 I’m not sure I should wait. What do you think?should be considered but I don’t like a tax decision to rule an investment decision. You must have had some reason that you were going to wait until next year.
Deciding to sell a real estate property is not something that can be done as quickly as when selling a stock or bond. There is something to think about that could come into play if you try to sell before the June 25th deadline. There are many other real estate investors that will be trying to do the same thing. That can cause an increase of listings for sale. When there is more supply than demand, prices go down. You could end up selling for less than you expect.
Consult your real estate agent to get advice on pricing, expected time to complete the sale and cost to get your properties ready for sale. In the end it may turn out it is better to wait after the rush for the exit is finished.See related stories: