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hope73

To rent UK house out or sell up?

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In the current economic climate, what does everyone think is best?

 

What's your time frame?


Nearly there! Don't drop the ball now guys! Vaccines are weeks away. Stay safe!

 

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We are hoping to be there by Feb/March.

 

It depends on your circumstances and finances but after alot if consideration we sold up as we didn't want the stress of renting out from so far away.

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It depends on so many factors.

 

Firstly, what visa are you on? If it's a 457 or other temporary visa, then you'd be mad to buy a house in Australia (it's difficult on a temp visa and the costs are so high it will be cheaper to rent). So you might as well leave your money in your home.

 

Secondly, what are your plans? If you're just planning to have an adventure and see how it goes, then hang on to the house in case you want to come home when you've had enough adventure! On the other hand, if you're really determined that you're moving to Australia for the rest of your life, there wouldn't be much point in doing that.

 

Thirdly, where are you moving to? If you're coming to an expensive city like Sydney, then the likelihood is you won't be able to afford to buy a house for years anyway, even if you sell up your UK home. So it would make more sense to hang on to your UK home as an investment. However if you're going to a more affordable city where you could buy a home in a nice area, then you will need to sell up to have the capital for a purchase.

 

You will get people saying you should sell up because renting is so much hassle and tenants are so awful. I've never had that problem: an awful lot depends on finding a good reliable agent. Insist on reviewing all prospective tenants yourself and getting references. And make sure you're insured!


Scot by birth, emigrated 1985 | Aussie husband granted UK spouse visa March 2015, moved to UK May 2015 | Returned to Oz June 2016

My new novel, A Dance With Danger, is due out August 2022

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We are hoping to be there by Feb/March.

 

 

Sorry, meant when will you need the money? Brexit will take about three years plus, so unlikely any improvement in the pound over that time.


Nearly there! Don't drop the ball now guys! Vaccines are weeks away. Stay safe!

 

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I would say if you can afford it then rent it as it maintains a safety net should you come back. About a third end up moving back - I am one, and life would have been a lot easier if we still had a house here.

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