rent or sell?
Jul 21st 2007, 10:34 pm
#1
BE Forum Addict
Thread Starter
Joined: Jan 2003
Location: scotland
Posts: 1,511
rent or sell?
I know its been probably mentioned before many times over but when some people on here have moved to oz did they sell there house and use towards a new one in oz or did they rent there one out.
I have about 11 yrs to pay mine and when its time to go i am not sure what to do if rent it and keep or sell up,so people i have talked to in the past who are moving also have been told best to rent it.
What do you think guys i am 35yrs and i thought having keep this property here would be an investment and also who knows on what you maybe can get for rent these days,maybe this will pay my monthly payments and have left over for what i want in oz.
Or is it just best to sell up get as much as i can and use it on something from scratch in oz,i have no idea when that time comes whats best.
I have about 11 yrs to pay mine and when its time to go i am not sure what to do if rent it and keep or sell up,so people i have talked to in the past who are moving also have been told best to rent it.
What do you think guys i am 35yrs and i thought having keep this property here would be an investment and also who knows on what you maybe can get for rent these days,maybe this will pay my monthly payments and have left over for what i want in oz.
Or is it just best to sell up get as much as i can and use it on something from scratch in oz,i have no idea when that time comes whats best.
Jul 21st 2007, 11:20 pm
#2
In melbourne
Joined: Apr 2002
Posts: 263
Re: rent or sell?
We rented.. It has its ups and downs, it complicates your tax situation and you have a uk liability but then its an investment. You may have to lower your sights on what you look for here but then you will have 2 properties. You always have the ability to return onto the UK market.
Jul 22nd 2007, 1:20 am
#3
Forum Regular
Joined: Jul 2006
Posts: 69
Re: rent or sell?
I know its been probably mentioned before many times over but when some people on here have moved to oz did they sell there house and use towards a new one in oz or did they rent there one out.
I have about 11 yrs to pay mine and when its time to go i am not sure what to do if rent it and keep or sell up,so people i have talked to in the past who are moving also have been told best to rent it.
What do you think guys i am 35yrs and i thought having keep this property here would be an investment and also who knows on what you maybe can get for rent these days,maybe this will pay my monthly payments and have left over for what i want in oz.
Or is it just best to sell up get as much as i can and use it on something from scratch in oz,i have no idea when that time comes whats best.
I have about 11 yrs to pay mine and when its time to go i am not sure what to do if rent it and keep or sell up,so people i have talked to in the past who are moving also have been told best to rent it.
What do you think guys i am 35yrs and i thought having keep this property here would be an investment and also who knows on what you maybe can get for rent these days,maybe this will pay my monthly payments and have left over for what i want in oz.
Or is it just best to sell up get as much as i can and use it on something from scratch in oz,i have no idea when that time comes whats best.
Jul 22nd 2007, 6:29 am
#4
Banned
Joined: Jan 2004
Location: Morayfield - The Posh Part
Posts: 10,138
Re: rent or sell?
Rock and a hard place hey !
from personal experience and hindsight, I think we should have contemplated renting our uk property.. however.. life is life
I am sure there are many issues for and against
Tenants from hell spring to mind.
Also, you would be surprised at how the aussie dollar equates to one uk pound when you live and work here, so what you think is money in the bank from rental income in uk, can have detrimental effects on what you can get here.
Steve
from personal experience and hindsight, I think we should have contemplated renting our uk property.. however.. life is life
I am sure there are many issues for and against
Tenants from hell spring to mind.
Also, you would be surprised at how the aussie dollar equates to one uk pound when you live and work here, so what you think is money in the bank from rental income in uk, can have detrimental effects on what you can get here.
Steve
Jul 22nd 2007, 8:46 am
#5
Account Closed
Joined: Dec 2005
Posts: 2,424
Re: rent or sell?
I wanted to rent our home out here but after looking into it we could potentially be worse off by doing so as we have a large mortgage on it and all the letting agents we looked into had numerous charges for they're services.
Unfortunately it looks like we'll have to sell to go to Oz but I think if you have a small mortgage or no mortgage at all I think it would be well worth it.
I'm not too happy about losing our foot on the ladder of the housing market here but we have no choice.
Unfortunately it looks like we'll have to sell to go to Oz but I think if you have a small mortgage or no mortgage at all I think it would be well worth it.
I'm not too happy about losing our foot on the ladder of the housing market here but we have no choice.
Jul 22nd 2007, 8:48 am
#6
Hillarys, Perth
Joined: Mar 2005
Location: Hillarys, Perth.
Posts: 1,094
Re: rent or sell?
I know its been probably mentioned before many times over but when some people on here have moved to oz did they sell there house and use towards a new one in oz or did they rent there one out.
I have about 11 yrs to pay mine and when its time to go i am not sure what to do if rent it and keep or sell up,so people i have talked to in the past who are moving also have been told best to rent it.
What do you think guys i am 35yrs and i thought having keep this property here would be an investment and also who knows on what you maybe can get for rent these days,maybe this will pay my monthly payments and have left over for what i want in oz.
Or is it just best to sell up get as much as i can and use it on something from scratch in oz,i have no idea when that time comes whats best.
I have about 11 yrs to pay mine and when its time to go i am not sure what to do if rent it and keep or sell up,so people i have talked to in the past who are moving also have been told best to rent it.
What do you think guys i am 35yrs and i thought having keep this property here would be an investment and also who knows on what you maybe can get for rent these days,maybe this will pay my monthly payments and have left over for what i want in oz.
Or is it just best to sell up get as much as i can and use it on something from scratch in oz,i have no idea when that time comes whats best.
Just do some research on the income tax implication. Depending on your visa status you'll be liable for all your worlwide income in Oz, if you don't have PR it is different.
If you rent it....
Get an NRL1 from for the tax office. That way you'll recive 100% of the rent, without the form the renatl agent must (by law) deduct income tax from the rent.
http://www.hmrc.gov.uk/cnr/nr_landlords.htm
Check out Rent insurance, to cover the rent if the tenant cannot pay
www.letsure.co.uk
Check out British gas Home Care to cover all your plumbing, electrics, central heating etc
http://www.britishgas.co.uk/products...down-care.html
Recommend you use an agent (that you know is good).
Neil.
