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Guest Angie

Rent or Sell UK home?

13 posts in this topic

Hi

I would welcome any comments on my dilemma. We are a family of 6 hubby Paul me Angie children 14, 12, 9 and 4. I really want to rent the house out, but Paul wants to sell it. I just want to see how we go for a year, then make the decision. I know I am being a wimp but its just such a huge decision HELP

Thanx in advance for your replies

:shock: Angie :shock:

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Hi Angie,

 

I had the same dilema a couple of months ago and decided to rent out the house for a year instead of selling. Currently packing it up as moving on monday! :D

 

The obvious thing with renting out the house is if it does'nt work out you have always got a home to go back to. If we like it in Oz, we'll come back for a few months next Sept and sell up in Glasgow. The downside it there a few hassles with finding tennants, finding storage for belonging etc. This also means that you cannot buy a house in OZ before selling your house here as the OZ tax office will see this as an asset and tax at a rate of about 40% on the capital gains.

 

 

As for selling, sure if your sure you not coming back why not! Its definitely a tricky one. Still not convinced that renting it out was better than selling but will have to live with the decision for now. :?

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Hi Tim

 

Thankyou for your reply.

 

The children and Paul are really excited and so was I, but now the school term has begun and I've seen alot of my mates. I 've had to tell my mates our news because a wife of one of Pauls referees is a playground mum! They are already saying they're gonna miss us. I did'nt realise I would be affected soooooo much.

 

We've only just started the process. Chasing up references for Paul's job he's a brickie.

 

Thanks again

 

Angie

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and good luck

 

this is a brilliant site - so easy to use even I can do it!!!

 

:lol: Angie :lol:

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Hello Angie,

your right it is a big dessission, but they way we thought about it was that it was better to sell and make a clean break with the UK. We heard so many horror stories about renting our house out that it really put us off. Plus that way we now have the capital to buy when we see something we like. For us coming back is not an option now!

Regards

Cookie

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Hi Angie,

We were planning to sell our house and buy a flat to rent out when we move to Oz next year just so we have something to fall back on , also we wanted to use the equity on our house take with us........But as i just read something about 40 % tax, if you own here and there ,so we may well have to reconsider our choice as i dont fancy trying to sell a property here once we are in Oz.......

So many decisions.....

Regards

Melanie.

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Hi Cookie & Mel

 

Thanks for your replies.

 

I'm still trying to persuade my hubby to rent the house out, if not to buy something smaller just so that we have something here, but he's decided to keep some of the garden as a potential building plot and sell our house. What will be will be, I just think it would be easier to rent than sell, we've only been here 10 months and we still have boxes to unpack lol.

 

lots of luck

 

:lol: Angie :lol:

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Where can i find out more about this. We're lucky enough to have 2 homes between us. We'll sell our main one and buy one in Oz [all being well] but we were considering renting out the smaller one [as we have been doing] possibly to sell on intra-family later on. Would we lose 40%...even in a "private" sale [i.e. to sons....]?

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We are going to sell up & ship out next year. Our theory is that without the cosy bolt hole back here we will have to make it work. We just feel with such a safe haven in the UK the temptation to come home might be too great if we stumble after a few months in Oz.

 

Also having the equity behind you has got to help ease the stress and strains, esp if you can't get a job straight away. Having seen how difficult its been for friends to sell their houses I really wouldn't fancy trying to do it from the other side of the world.

 

Its not for everyone - but this is our choice - right or wrong!! :wink:

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We are also selling (house just been put on the market) as we want the security of having the equity behind us, hopefully earning some interest whilst we rent, for at least the first year, in Melbourne. Husband transfers with his job end Feb 06 so we are hoping everything goes through in time. Of course, that could be seen as a downside to selling, the completion, chains, poss of people pulling out, etc, but you could equally have renting problems, such as not having a tenant for the time you need (we are initially going for 2 years, then see what happens - but I hope we'll like it enough to stay!)

I also heard that any income from renting your house in England would be taxed in Oz? Dont know how accurate that is

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Hi Angie

 

Dilemma!! sell rent! what is best, reading this site, I am confused now, me and husband are heading to Perth hopefully 06 some time, no decision has been made yet whether to Rent our house, and go, or just sell up lock stock! not sure if I like the idea of Tax !! and cannot buy in Oz if you have property here! decisions! I suppose if you had a good agent here to look after your property and of course you would get high rental price, could always rent in OZ for a while, We are lucky as we have family in Oz, so at the start we can stay with family. AT THE END OF THE DAY, YOU WOULD HAVE TO RETURN TO ENGLAND TO SELL UP EVENTUALLY, as not many return from OZ! and to be honest I would rather spend my money on a holiday in Oz somewhere, or even holiday in New Zealand, than coming back to sunny ENGLAND!!

Good Luck,

Justine

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We are going to sell up & ship out next year. Our theory is that without the cosy bolt hole back here we will have to make it work. We just feel with such a safe haven in the UK the temptation to come home might be too great if we stumble after a few months in Oz.

 

 

 

 

We considered keeping the house and renting it out, just in case it didn't work for us in Oz, but at the end of the day it's just too complicated (and we needed the money!).

You're too far away if there are problems, and if you can't bear to part with your house surely it would be heartbreaking if someone rented it and wrecked it :shock:

 

I also knew like Heathertoes it would be too easy for me to give up and go home if I knew we had a house waiting for us. This was proved true for me when a friend emailed me to say our old house had popped up on the internet for sale :shock:. (1 year after we sold it).

Having suffered badly from homesickness, for a split second I though "Yay" we can go back, buy the house back and it'll be like we've never been away! So I guess that proves my point!!

 

So do whatevers right for you I guess.

 

Sunshine.

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Hi All

Thanks for all your replies.

My mum and dad are going to Spain to live and have decided not to sell their house just in case we need it (how sweet) It has actually given me the push I needed, we can sell our house but still have the security of having a bolt hole, I'm sure we won't need. It has been such a huge dilemma but we still have a long way to go.

Good Luck everyone

Angie

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