The Cairnsys

We started the process 3 years ago when the exchange rate was at least $2 to the pound and the property market was still alive.

At this moment in time we are in limbo as we cannot sell the house and we have to active our visas by 16th Nov 2011, we do not want to spend £5000+ on a 2 week holiday to activate the visas, the other option is to rent out the house but we would have to realise equity and not sure if a mortgage company will allow this.

Does anyone have any advise?

Thank u x

HelenTD

There lots of discussion about this on this BE thread: http://britishexpats.com/forum/showthread.php?t=716593.

You will also find several threads on the cost of living here. A major factor for moving here is how quickly you might find a job. It's taking some people several months, so you need to have some funds to support yourselves. Some people can get access to Centrelink payments, depending on their visa type.

Where in Australia are you intending to move to, and what are your occupations? Are you a couple or a family with kids?

Betty Boot

I've just started a similar thread, we cant sell either and dont want to rent it out nor can we afford to do so really so for us it is forget the dream

Bermudashorts

It always concerns me when people talk about "the dream" as it suggests expectations are very high and you are thinking of leaving everything behind to join us in Utopia...

Anyway that aside, well if you want to come but need to rent your house out to do it then rent your house out. A few of us moving over in the last year or two have done this. Renting out isn't really what I wanted to do either, it is hard to think of someone living in your home but you just have to get over it. We are trying to see it as business now and we have promised ourselves if we go back we decorate from top to bottom again. It is really not so bad renting out.

You are unlikely to be able to remortgage if you say it is to fund a move overseas btw.

LayaboutSi

Hi

We were in the same position.

Out decision was to go and enjoy a holiday and validate the visa. However, before we went I lined up 3 interviews and was offered a job whilst in Oz. I approached the firms directly.

When we got home, we looked at the financial factors of dropping the price on the property and managed to sell the house. It was a balance between the potential earnings and taking a loss on the property. The company that offered me the job has been very patient but they have known our situation from the start. A lot of things have gone our way, but we have tried to control the situation the best we could.

This September, 10 months after the job was offered, we fly out to our new lives in Melbourne. However, until I am on that flight I will not be counting my chucks.

Last problem now is to find somewhere cheap to stay in the uk while we have no home.

Davesax

Well if you've never been to Aus then it it's more a dream than reality , Its used more as a turn of phrase right?

We've let our house and have had no problems , the interest rates are lower in the UK - go for it - at least you'll be on the ladder .

Amazulu

Anything can be sold if the price is right. Have you tried reducing the price of your house?

eddie007

I started a thread aprox 4 half years ago, called the "Whinginh Pom Houseseller"...

we couldnt afford a reccie/ validation

we didnt sell then.... sold at the bottom of the crash, exchanged at the worst rates... but we dont regret it for one minute...

even tho we have gone from almost being mortgage free to starting from scratch again...

living a wonderful life here... enjoying every minute... well almost every minute... I knew that there was never any going back so we HAD to make a go of things... had our ups and downs... did the home sick thang... worried about what we would have had if everything had fallen into place at the right time, but at the end of the day, we drank some cement and hardened the fluck up.... and are happyas pigs in the same shit but a shinier bucket


everyones experience is different.... thats just mine

You have to do what is right for you

deb68

Ditto to that eddie007

The Cairnsys

We are moving to Perth and we have 2 kids, my husband is and Electrician ans hoping he will be able to get a job quick but I suppose you never no.

isgraham

You can sell your house you are just pricing it over the new market price. Lower the price and it will sell simple market economics.

HelenTD

There are quite a lot of relevant threads for you on BE, especially the hoops you have to jump through to work as an electrician here. Have you read the one on Working Abroad by Profession? There are also a few threads on the cost of living and renting/buying accommodation here and it is usually not a good idea to rush into a rental or buying somewhere until you have done a bit of homework online and had a good look around once you get here.

GARRYP1302

Helen, you talk good advice, I have started a number of threads trying to gain information about a number of things, like work, cost of living the recession but unfortunately trying to get sensible answers seems like asking for a pot of gold, everyone seems to have an opinion but they are all different, I am very confused about the situation in Australia,

sa2uk2oz

We were only given 5 months to activate our visa, and the only time we could come over as we had another overseas holiday booked was for 6 days at Christmas in 2006. It cost a lot , but was well worth it. I suppose it depends how much you want it to happen. We have lived here for 4 years now and have no regrets. Good luck, and perhaps renting out the house is your best option?

paddyo

We came over 3 1/2 years ago, albeit on a Temp Visa so selling our house was not essential to us. Renting it out was our preference as we MAY be coming back, now not so likely!!
However, we had a large mortgage and even though we live in a nice area our rental income does not cover our mortgage payments, a 400 pound per month loss!! But, one of the perks of being a Temp is the LAFHA which offsets that loss. If we go Permanent then we lose LAFHA, about $2k per month cash, and then things will bite a bit. If that occurs then we can claim that loss as a tax offset so it will lessen the pain somewhat.
All we have to do is ensure we pay our mortgage every month and sign an annual declaration that we understand the risks and will ensure payments which keeps them happy.
'Why not sell and avoid the loss?' I hear you say, well, the exchange rate right now does not help but mainly its because due to other financial constraints we can not sell until March next year. When that happens then exchange rate good or not we will sell as that 400 pounds would override any profit value in the property.