ixium said:I'm actually getting posted this year to Pet. A few others I know are as well. The issue for such a late HHT is that houses in other military towns aren't selling either. I got my message late April and put the house up a week or so later and it is still on the market. I know a couple guys selling and have only just sold in the last week or so.
The vast majority of houses sold are all military where bases are(Maybe not Edmonton or Ottawa...) but when no one buys their house, they can't get to their new posting to buy another members house.
Brookfield should have a place setup that gives advantage of members buying from other members.
Brookfield will tell members the exact opposite.George Wallace said:Selling your current home has no affect on a HHT. You do NOT have to sell your house in order to go on a HHT.
ixium said:I'm actually getting posted this year to Pet. A few others I know are as well. The issue for such a late HHT is that houses in other military towns aren't selling either. I got my message late April and put the house up a week or so later and it is still on the market. I know a couple guys selling and have only just sold in the last week or so.
The vast majority of houses sold are all military where bases are(Maybe not Edmonton or Ottawa...) but when no one buys their house, they can't get to their new posting to buy another members house.
Brookfield should have a place setup that gives advantage of members buying from other members.
You need to be very careful about going the rental route. It is not something to do without researching it thoroughly beforehand. First, if you rent out your house, you lose your entitlements from Brookfield for the sale (RE commission, lawyers fees, TDRA, etc.). You need to make sure you've opted for the RE incentive for not selling (up to 12K depending on appraisal of the home). Sure, you can roll the dice and not tell Brookfield you are renting it out, but you are then technically committing fraud.Bird_Gunner45 said:If you're a service couple or have no intent on going IR from your current home you could do the HHT and apply for a PMQ in Petawawa. If you do a conditional offer and sell your house before you move than great, if not, than you move into the PMQ (dependant on availability of PMQs there of course) and try to rent your current home out. I know of 2 couples in Shilo that have done that (both from Gagetown). The markets in most military communities seem to be bad (Gagetown, for sure, is horribly flooded as Oromocto, population 8000ish, has over 200 houses on the market alone).
ixium said:Well I know that you can go on an HHT (which Brookfield frowns on). You either have to have enough cash to put a deposit on a new house or put a condition on your purchase agreement that says pending sale of previous house. Some people don't like dealing with that, some people don't mind, but I'm sure all of them would rather not have to.
I'm also not even looking in Pet, except maybe one place. Prices are kinda crazy for me. I'd rather be away from towns and in the country. Seriously looking at getting a place in Quebec if the hoops I have to jump through aren't too much.
MCG said:Every member screws another member when building a home in a small military comunity where housing supply already exceedes demand.
And this is why the situation will never improve in Petawawa or Oromocto without DND causing something to change. Everyone will make the decision that benefits themself (seeking the most gain or the least risk).PuckChaser said:Homes are personal decisions, and I don't think it's anyone's responsibility to buy a home sold by a military member. I'm buying a new build home, as my realtor advised they're easier to sell in 5-7 years when I'm posted out. Why should I use my hard earned money to buy a house I don't want to deliberately keep a market down?
Maybe, but it is not untrue and it is not something that should be expected to change without external influence. It is Nash's equilibrium. Choose the path to potential greatest gain for all and you are simultaneously at risk of the most dangerous fall. Choose the path of greatest potential personal gain and you simultaneously undercut everybody else while minimizing the potential worst case for yourself.Bruce Monkhouse said:That's quite a shot at those who wish the joy of owning a brand new house,,,,,,
MCG said:And this is why the situation will never improve in Petawawa or Oromocto without DND causing something to change. Everyone will make the decision that benefits themself (seeking the most gain or the least risk).
If you are building into a small military community, then you are contributing to the problem of ever-growing supply for an unchanging level of demand. I do hope karma does not come bite you in 5 to 7 years, and I do realize your decision alone is not enough to influence that market dynamic.
Building more houses in saturated communities is what will drive the market down. Constraining the supply by limiting construction is what will allow the market to grow.
ProPatria05 said:....... Realtors are not happy, because they're trying to keep the prices up in the ridiculously over-inflated, over-supplied housing market they helped create.