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property dilema, sell or not sell

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Right everyone help with this dilema, we are perth bound and cannot decide wether to sell up or not, fortunately i run my own business and can scrape 20.000 together.This would then enable me to keep my home in the uk to sell at a later date because as we all know the property market is not good at the mo. However would this weaken us in our determination to stick it out or would it give us an excuse to return to the uk if things got tight. My home is my pension as i have never trusted the robert maxwells of the world with my money. Do i sell or not, Are their any out their that have done similar.I was hoping that in the near future if things level out i could sell at a later date and buy down under.It appears that their are cracks in the oz housing market and their prices might drop soon. :wideeyed: regards jules


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Guest Tony4052

Jules

 

Again we are in a similar position regarding do we sell or rent our house out. We have enough money to get out there with savings...

 

Looking forward to those replies from them in the know.....

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Hi we have decided to sell the family home and buy a 2 bed flat to rent out. That way we are still keeping our savings in the country and will (hopefully) benifit if the housing market here picks up again.

Tricky one though as it is always a risk which ever way you turn.

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We have thought long and hard about keeping the house or selling it. It is a two-bed terrace and already too small for us ( we have two children aged 4 & 10months who share a bedroom at the mo) Our house is extra special as they were both born here.

 

 

In the end tho we have decided to sell as we don't want to have to worry about renting it out and couldn't face it if tenants caused damage etc so from Friday it will be up for sale.

 

It was a hard decision and both our parents have taken it badly as we have spent all our married life here and the kids have obviously life here all their lives :-(

 

The plus side is we don't really need any of the money for our move to perth as we will have our savings until OH gets a job and we are hoping to secure one before we leave. The interest we expect to get on the money from selling the house will pay for our parents to fly over to visit :-)

 

Its a hard decision to make and everyones circumstances are different - if we weren't emigrating we would still be having to look at selling to buy a bigger house.

 

Good Luck

 

Est


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Guest lexylou
Right everyone help with this dilema, we are perth bound and cannot decide wether to sell up or not, fortunately i run my own business and can scrape 20.000 together.This would then enable me to keep my home in the uk to sell at a later date because as we all know the property market is not good at the mo. However would this weaken us in our determination to stick it out or would it give us an excuse to return to the uk if things got tight. My home is my pension as i have never trusted the robert maxwells of the world with my money. Do i sell or not, Are their any out their that have done similar.I was hoping that in the near future if things level out i could sell at a later date and buy down under.It appears that their are cracks in the oz housing market and their prices might drop soon. :wideeyed: regards jules

Hi we are renting our house out, like you say the property market isnt good at the moment. So we are going to rent it out for about a year and hopefully things will have picked up a bit here and prices will hopefully have dropped in Perth. I understand that it could encourage you to return but the flip side is that at least you know you have your house to come home to. Hopefully that won't be the case and you'll live the dream for many more years to come.

Gillian

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We recently returned to the UK after 16 months in Perth. We're very glad to have our house to return to but do wonder if things may have been different without the stress of having bad tenants and a big mortgage in Australia.

Also you're right it does make the return all to easy. I think the big factor at the moment is the exchange rate , taking the equity out of your UK house and buying dollars at current rates doesn't seem a great idea. But I don't think things are going to turn around greatly any time soon(not without something drastic going wrong in China).

Then theres the question of the Australian housing bubble , despite predictions of a crash on the horizon (i personally am hoping for this) I can't see it. With an influx of migrants from the eastern states as well as outside Australia driven by mining jobs I think things will just stagnate for a year or two.

I think if there are two people working and you don't set your sights too high (especially with future interest rate rises likely in 2012) . Buying a second house in Perth could be the best bet. Then you have good cover for most scenarios , if you love Perth and decide to stay you can sell up later in the UK and upsize or buy another investment property there(maybe with a better exchange rate by then). If you end up returning to the UK you're back to familiar surroundings without having to worry out getting a mortgage etc. Or if you're like me and you become totally confused you could keep both and ping pong back and forth forever and a day.

 

Good luck with move whatever you decide. Toad

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If you are one of the families who think they "will give it a couple of years and may return" then keep your house and see if you can get a start with the 20,000 you have.

 

If you are like us when we came and think this is a change for good and we intend to settle here and never return, sell, take the hit with the exchange rate and get all your savings and investments into Aus.

You will get better returns for your investments over here, the housing market has stagnated but with no sign of a collapse. If you buy in the right area there are still some good buys with profits to be made down the track.

If you sell up it's one less worry and you won't be forever thinking "we could return easily, we still have the house".

 

All the best.

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Guest Harry A
Right everyone help with this dilema, we are perth bound and cannot decide wether to sell up or not, fortunately i run my own business and can scrape 20.000 together.This would then enable me to keep my home in the uk to sell at a later date because as we all know the property market is not good at the mo. However would this weaken us in our determination to stick it out or would it give us an excuse to return to the uk if things got tight. My home is my pension as i have never trusted the robert maxwells of the world with my money. Do i sell or not, Are their any out their that have done similar.I was hoping that in the near future if things level out i could sell at a later date and buy down under.It appears that their are cracks in the oz housing market and their prices might drop soon. :wideeyed: regards jules

 

We'er also Perth bound hopefully in Feb! We are looking to sell our property as we have a big mortgage, but with equity, enough for a big deposit on a new home in oz.

I don't think to much will change in the next couple of years as regard to property prices and exchange rate, so if you are willing and and have the funds to do it without selling, maybe that's an option! For me I would like to wash my hands of the whole thing here and be fully committed and not having that draw from the uk!

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