Clippy

We are planning on selling, but have read recently a prediction of a 40% rise in house prices over the next 5 years......although I'm aware the housing market in Oz is also increasing dramatically so it could all be swings and roundabouts.

Just would like a general opinion on those of you that have sold or rented and if you regretted whichever decision you made?

Shakmaty

Sold house, made full commitment to emigrating, needed the capital to start in Aus, glad we did it

Clippy

Thanks

We have a little capital from a share in some rental properties we sold. But would need the money from our main house before we bought one in Oz most likely.

Shakmaty

Then like most people, you really have little choice but to sell. Renting in UK is fine for those people who can afford to do it, but many can't....the capital from the property sale will make their first year or two in Aus comfortable.

Clippy

Yes this is very likely the way we'll go. Although I'm still convinced Dale is going to expect me to live in a tent on the beach for a couple of years

Shakmaty

Well, then just tell him the temps in the south are too cold for camping in the winter, while the North has those saltwater crocs

I'm sure he'll be up for a nice sturdy property

Clippy

Lol oh god he'll be building me a shack then

Australian Property

Hi

It is different for different reasons and this can depend on how long you are migrating for, on what visa and what you are leaving behind in all aspects of resources.

My advice is that if you dont' have to sell or can afford to borrow against the property in th UK to finance an aspect of your Australia move, then do so.

Once you are established and clearly know your direction in Australia then make the decision at that time - during this period at least you own a substantial asset (with rental income - likely) that is increasing and in GBP x 2.4 to the AUD.

It is also possible to borrow against this to purchase a property in Australia.

shiels

Think it might of been too easy to return if we had rented it out, plus we needed the capital to buy here! C x

Speargun

glad lots of people are worrying about the same thing as me.....still carnt decide...one day im all for it the next im not! We have a 6k redemption fee to pay if we sell it...although at present i could probably sell it for free hence saving a couple of grand or do we wait rent it out and see whether I can convince the other half that our long term future lies in OZ?.........nope still no nearer to coming to a decision! We dont want to sell and then have to move back to find the market has gone mad over here again (something which definately is looking unlikely due to the holiday market and interest rate rises)

sammyg

Agree! Decisions, decisions...

We have been toying with the idea of letting our main house out for a profit of 500 quid or so a month BUT this will stop us being able to buy the house we want over there as we won't have a substantial deposit.

In reality we have to sell ours as most of our equity is in it which will be much needed in oz...

Currently in process of remortgaging our buy to let up to the hilt to get some extra funds - we're gonna keep this on and just take as much out of it as we can because we have good long-term (hopefully) tenants in it.

It is a tricky one as there are many different ways to approach it

charb

I agree.

As it was me that did all the persuasion to get here, I was worried that if we had rented our house out, then my OH wouldn't have came here with an open mind - & be thinking ''Oh well, we have our house in the Uk still...''

I need not have worried though, he has settled in better than me so far !! lol !!

stu:0

I rented mine out. Been here 2 months and wish id sold. We have fallen in love with Cairns and i know its early days but cant see us going back. Mine will be guing on the market once the 6 months contract is up!

Stu

mick69

Sadly, I have to say we rented our house. Personally for me I think it was the wrong decision. My OH hasn't settled and now we are heading back to the UK in under 3 weeks I don't think he would have been so quick to want to go back if we had to get back onto the property ladder but who knows.

Lynne

Caroline G

We rented our house out and remortgaged it prior to coming out to fund the Aus adventure. We are here because we really want to be here not just because we sold up and are stuck here. I think if I had sold up I might have felt trapped especially during that first unsure year and maybe would have done a panic bolt back but because we've not burned our bridges I'm much more relaxed and enjoying the whole thing. Personally I think why limit your options if you don't necessarily have to.