menlow4 Posted June 6, 2011 Share Posted June 6, 2011 We had a great plan. Sell our house, move into a rental to take our equity out of a volatile housing market over here in WA. Problem 1. The bank wanted some of that equity to be put into some land we also had here in WA. Problem 2. The land has been up for sale for over 12 months and it's not selling. Problem 3. There are now plans to build a new prison in the area we have our land in. This has caused panick and everyone and their brother are selling their houses. Why would anyone want to buy our land now?! We feel that we are just watching our money disappear in front of our eyes. Is someone trying to tell us something? We want to return home more than anything, the equity wasn't a fortune but a nice deposit on a house. Oh yes and Problem 4. UK broker has now said that he cannot deal with ex pat mortgages until he has indemnity insurance oh and yes Problem 5. OH did truck licence last year to be able to work in mines to get a bit of savings behind us. Well 9 months later there's still no job offers after lots of applications. Plan not working really. It's laughable really if it wasn't so frustrating! Link to comment Share on other sites More sharing options...
Guest marra2000 Posted June 6, 2011 Share Posted June 6, 2011 Sorry to sound sharp, but just put it through an auction and get on with life. Allot of people just waste time in life waiting for things to get better or improve. The exchange rate is in your favour at the moment, once UK rates rise then it may be likely the £ will start to strengthen. Once the prison starts to build then reality of what it will be will hit and just watch the house prices fall. Personally I dont think things will improve much for your side if you wait, with falling house prices, a prison, economic uncertainty .Good luck in all anyway, I have also heard so many paying for licences to go into mining but so many doing it now that the agency's have allot to choose from. Link to comment Share on other sites More sharing options...
newjez Posted June 6, 2011 Share Posted June 6, 2011 Where is the prison being built? These aren't always that bad a thing - as they tend to create a fair bit of work in the area. But you will have to wait till it's built before people appreciate it, and this may take quite some time. Link to comment Share on other sites More sharing options...
Sydney Posted June 6, 2011 Share Posted June 6, 2011 We had a great plan. Sell our house, move into a rental to take our equity out of a volatile housing market over here in WA. Problem 1. The bank wanted some of that equity to be put into some land we also had here in WA. Problem 2. The land has been up for sale for over 12 months and it's not selling. Problem 3. There are now plans to build a new prison in the area we have our land in. This has caused panick and everyone and their brother are selling their houses. Why would anyone want to buy our land now?! We feel that we are just watching our money disappear in front of our eyes. Is someone trying to tell us something? We want to return home more than anything, the equity wasn't a fortune but a nice deposit on a house. Oh yes and Problem 4. UK broker has now said that he cannot deal with ex pat mortgages until he has indemnity insurance oh and yes Problem 5. OH did truck licence last year to be able to work in mines to get a bit of savings behind us. Well 9 months later there's still no job offers after lots of applications. Plan not working really. It's laughable really if it wasn't so frustrating! Prisons tend to offer employment and an increase in property prices. I know someone in NZ who bought up some properties in a small town that announced the building of a prison. Maybe it's not all bad news. Hope it all works out. Good luck. Link to comment Share on other sites More sharing options...
Guest famousfive Posted June 6, 2011 Share Posted June 6, 2011 If I was in your shoes and I wanted to head home I would take this as a sign of being told to' get the hell out of dodge'.I would probably cut my losses as quick as I could while I still had something to lose.But it is not me and not knowing the effect this loss would have on your future all I can do is wish you the best and ask the man above to give you the knowledge needed to guess what is the best route to take. Link to comment Share on other sites More sharing options...
Conniebygaslight Posted June 6, 2011 Share Posted June 6, 2011 We had a great plan. Sell our house, move into a rental to take our equity out of a volatile housing market over here in WA. Problem 1. The bank wanted some of that equity to be put into some land we also had here in WA. Problem 2. The land has been up for sale for over 12 months and it's not selling. Problem 3. There are now plans to build a new prison in the area we have our land in. This has caused panick and everyone and their brother are selling their houses. Why would anyone want to buy our land now?! We feel that we are just watching our money disappear in front of our eyes. Is someone trying to tell us something? We want to return home more than anything, the equity wasn't a fortune but a nice deposit on a house. Oh yes and Problem 4. UK broker has now said that he cannot deal with ex pat mortgages until he has indemnity insurance oh and yes Problem 5. OH did truck licence last year to be able to work in mines to get a bit of savings behind us. Well 9 months later there's still no job offers after lots of applications. Plan not working really. It's laughable really if it wasn't so frustrating! Do you have a job offer lined up for when you return to the UK if so then go direct to the Halifax (by phone if poss) and you should get an expat morgage. We did and so glad we did. I have an email address of the girl that helped us if you need it. Link to comment Share on other sites More sharing options...
menlow4 Posted June 7, 2011 Author Share Posted June 7, 2011 Thanks for all your ideas and support. My land is in a place called Jarrahdale in the Perth hills. We did plan to build, but a little while later we hit our 'wall' and realised we were considering relocating, when what we really wanted was to return home. A prison might be a positive in the long run but at the moment we are competing with 17 houses for sale in the area. These have gone on the market as a result of the prison plans being advertised in the newspaper. I am not sure that auctions are as popular in WA but it is something to think about. Connie, I don't have job offer back home and neither does my OH. We were looking at 2-3 years before we moved really to save a bit (what a joke!) I don't know what to do, it seems that our plans need to be changed and perhaps looking for jobs from here might be something to think about. Anyway I'll keep you posted with any good news. Link to comment Share on other sites More sharing options...
Guest guest30038 Posted June 7, 2011 Share Posted June 7, 2011 Prisons tend to offer employment and an increase in property prices. I know someone in NZ who bought up some properties in a small town that announced the building of a prison. Maybe it's not all bad news. Hope it all works out.Good luck. That's my thinking. Prisons are just that..................there's not many mass escapes that would put locals at risk now is there. My personal experience of Kirkham prison in the UK is that house prices rose due to an influx of workers in the prison, and even led to a new estate being built close by, with full take up. You're more likely to be on a winner as a loser, I would say. Link to comment Share on other sites More sharing options...
ali Posted June 7, 2011 Share Posted June 7, 2011 On the radio yesterday they were predicting that house prices in WA won't really improve for about 12 - 18 months when there'll be an upward turn again. Hadn't heard about the new prison where's it going to be? There's loads of new development around Hakea prison which doesn't seem to be stopping people building/buying so the prison may not be too bad. Link to comment Share on other sites More sharing options...
menlow4 Posted June 8, 2011 Author Share Posted June 8, 2011 I hope so Ali. This may be one of those open prisons where prisoners go to live to serve the last 18 months of their sentence. Nothing definate yet but the problem is the 'open' part. The community is a nervous I think. Anyway nothing set in stone yet so fingers crossed. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.