Is anyone renting their property out rather than selling?
Jun 9th 2004, 12:03 pm
#1
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Thread Starter
Joined: May 2004
Location: Frankston South, Victoria
Posts: 2,867
Is anyone renting their property out rather than selling?
Hi
Doing a bit of forward planning (as we do) and cannot decide whether to sell our house or rent it out although everyone seems to be selling. We know that the income from the rental fees will pay for a mortgage in Australia plus agency fees here (that's if we use an agency to look after the house, make sure we're paid regularly etc etc or whatever they do for their money!!). Had a property in Bedfordshire before we moved to where we are now and we rented that our for a while but our agents were absolute crap and has left a very bitter taste in my mouth. Haven't looked into tax implications yet either.
Are we going to end up with a whole bunch of hassle if we rent? What if things don't work out in Melbourne there's no way we could get back on the property ladder where we are at the moment because prices are just too high (we bought our house 12 years ago and it's value has trebled.)
I know I should be looking positively at our move over to Melbourne (and I am) but me being me (a serial planner) I have to have all eventualities covered, that includes the possibility of returning home if things don't pan out.
Oh, I've got a headache!!
D D
Doing a bit of forward planning (as we do) and cannot decide whether to sell our house or rent it out although everyone seems to be selling. We know that the income from the rental fees will pay for a mortgage in Australia plus agency fees here (that's if we use an agency to look after the house, make sure we're paid regularly etc etc or whatever they do for their money!!). Had a property in Bedfordshire before we moved to where we are now and we rented that our for a while but our agents were absolute crap and has left a very bitter taste in my mouth. Haven't looked into tax implications yet either.
Are we going to end up with a whole bunch of hassle if we rent? What if things don't work out in Melbourne there's no way we could get back on the property ladder where we are at the moment because prices are just too high (we bought our house 12 years ago and it's value has trebled.)
I know I should be looking positively at our move over to Melbourne (and I am) but me being me (a serial planner) I have to have all eventualities covered, that includes the possibility of returning home if things don't pan out.
Oh, I've got a headache!!
D D
Jun 9th 2004, 1:02 pm
#2
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: Is anyone renting their property out rather than selling?
Originally posted by DollyDaydream
Hi
Doing a bit of forward planning (as we do) and cannot decide whether to sell our house or rent it out although everyone seems to be selling. We know that the income from the rental fees will pay for a mortgage in Australia plus agency fees here (that's if we use an agency to look after the house, make sure we're paid regularly etc etc or whatever they do for their money!!). Had a property in Bedfordshire before we moved to where we are now and we rented that our for a while but our agents were absolute crap and has left a very bitter taste in my mouth. Haven't looked into tax implications yet either.
Are we going to end up with a whole bunch of hassle if we rent? What if things don't work out in Melbourne there's no way we could get back on the property ladder where we are at the moment because prices are just too high (we bought our house 12 years ago and it's value has trebled.)
I know I should be looking positively at our move over to Melbourne (and I am) but me being me (a serial planner) I have to have all eventualities covered, that includes the possibility of returning home if things don't pan out.
Oh, I've got a headache!!
D D
Hi
Doing a bit of forward planning (as we do) and cannot decide whether to sell our house or rent it out although everyone seems to be selling. We know that the income from the rental fees will pay for a mortgage in Australia plus agency fees here (that's if we use an agency to look after the house, make sure we're paid regularly etc etc or whatever they do for their money!!). Had a property in Bedfordshire before we moved to where we are now and we rented that our for a while but our agents were absolute crap and has left a very bitter taste in my mouth. Haven't looked into tax implications yet either.
Are we going to end up with a whole bunch of hassle if we rent? What if things don't work out in Melbourne there's no way we could get back on the property ladder where we are at the moment because prices are just too high (we bought our house 12 years ago and it's value has trebled.)
I know I should be looking positively at our move over to Melbourne (and I am) but me being me (a serial planner) I have to have all eventualities covered, that includes the possibility of returning home if things don't pan out.
Oh, I've got a headache!!
D D
Finally decided that we would rather have the sale money to take with us to buy there. Don't want to get there with only minimal money (try that after a drink
) Also as you say, can you trust agents not to stuff up and what happens if no tenants for a long period of time.Think positive. You will love Aus. You will not want to come back. You do not want to worry about getting back on the housing merry go round uk style.
Good luck
Jun 9th 2004, 1:25 pm
#3
Forum Regular
Joined: Mar 2004
Location: Ascot Berks(06.04) to Cronulla nr Sydney back to Ascot (04.05)
Posts: 246
Weve rented out our UK home- an oldish character house for a company let of a year. That way we can keep our options open....when we went for our validation trip I loved Australia but the main thing that put me off was having to decide and sell up everything, I was scared too that we would never be able to afford to come back, if it didnt work out.
We now have a year to decide to let it further or move back or sell on. It has been a bit of hassle but Im really glad I havent had to sell. We also wouldnt have bought in Australia now with the house market so unpredicatable - so we are going to rent in Sydney, when we arrive in 3 weeks.
It has for the moment proved to be the best option. Good Luck
We now have a year to decide to let it further or move back or sell on. It has been a bit of hassle but Im really glad I havent had to sell. We also wouldnt have bought in Australia now with the house market so unpredicatable - so we are going to rent in Sydney, when we arrive in 3 weeks.
It has for the moment proved to be the best option. Good Luck
