grada
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Posts posted by grada
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Where is the house?
Sunny Coast
So many variables - If you think you may come back, it's tempting to rent it - as long as you won't do this at a loss. Non resident of Australia pay tax on all income (don't get tax free allowance) so is there plenty to offset? You'll need to do an annual tax return for Australia too. Would you make a gain or a loss from sale? Would it rent easily without hassle? I kept my UK house and am really glad I did now I'm returning but I can't deny that having to rent here (because I didn't release equity) has been a pain...Thinking we'd break even on the sale, would just be happy to sell it for what we'd paid for it, rental wise looking at the local market thinking there would be a small loss and would probably need to top up between $50 and $100 per week. It should rent out easily, its a nice house, 4 bed with pool near the beach, rentals round here don't stay vacant for long and this one is certainly a lot nicer than many of the rentals advertised.
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Bit of a generic question I know!
Short story is were approaching our 4th year here, and seriously considering a move back to UK (many many reasons, too many to list).
My dilemma is what to do with our house here in Australia? Sell the house before we leave (bought it stupidly fairly recently so we'd have to try and sell it for what we paid for it, or close to), or rent the house out while we relocate to the UK.
My reasoning behind this is that it's nice having the assets in bricks and mortar, and we don't know how long it'll take us to be eligible for a mortgage again once we hit UK shores. I'm thinking it could be a good idea to keep this one as an asset, and try and sell it once we become eligible for a UK home loan once again (with secure jobs etc).
It would be good to hear from someone who has been in a similar situation? We'll probably do a holiday back home first just to make sure (not been able to afford a trip home since we landed 4 yrs ago!).
Cheers.
Will you regret it? thoughts...
in UK Chat
Posted
Love this post, very well worded, and echo's my own sentiment exactly. I think about my close family and friends every day, and while it's not my only motivation for moving back, its certainly a biggie.
For me I think I have got to the point where my own homesickess, I can feel it physically, like really sick, dizzy, and cannot concentrate because of it. Thats when you know I think, and have to do something about it. Having a family and children to think about here, also needs to take priority, so their needs count also more than mine.
Life is a complex interwoven mesh of friends, family, finances, careers, and joyful or tough experiences. Migration (for many of us) can put a strain on that already fragile network.