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Old 2015-08-29, 10:54 PM
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mc_ottawa mc_ottawa is offline
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Join Date: Jul 2009
Location: Ontario, Ottawa
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Quote:
Originally Posted by BlkStnBerk2 View Post
You're right. Saving property taxes for 8 months and paying $1400/month to rent a Townhome is a horrible idea.

Ever heard of Dymon? I stored my entire house in a unit there for just over $200/month. Free truck and driver at move in.

Then I used PUPS with my next build. $200/month for my whole house. Containers picked up and dropped off in my driveway.

As I said, multiple neighbours did this when building their current homes, and I've done it twice.

Remember you're speaking from the GTA, and I am speaking from the market in question. Totally different markets altogether.

I can't find any Ottawa realtors who recommend selling 60 days before a new closing. It's not impossible, but why risk it? The market here is not in the seller's favour. It's flat or slightly leaning towards being a buyer's market.

If the OP has no problem carrying two mortgages, the by all means. But it's a risk they probably don't need to take if they can't.
Bang on assessment. In Ottawa, the current average DOM (days on market) is hovering around 90 days. Waiting until the very end to sell is a terrible idea IMHO.

The last time we moved, we ended up making two separate moves (sold our place, moved out, temporary accommodations, moved into our new place). It was a pain to have to hire movers twice and pay for storage, but to get the place that we want, we had to give a little. We are likely doing the same thing (two moves) when we *fingers crossed* move in a couple of months.

Having spoken to multiple realtors in Ottawa in the last few weeks, it has been pretty clear to me that it is a buyers market and that prices have stagnated in the last year or so. Selling a year out may be on the extreme end, but I would rather live in temporary accommodations and move twice, rather than carry two mortgages for an undefined period of time.
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