steve-n-jo

A simple question......we are hopefully heading off to Adelaide in eighteen months time (Tra successful and have 125 points)..
We have sold our house because we believe the current Uk housing market is going to decline further, (it has taken us seven months to sell and reduced the price three times) we have made a tidy sum!!... however the cost of renting is obscene.....so should we pull out of the sale Or carry on and move out in three weeks and rent for twelve months or more????
just seeing opinions......

wolfens_wife

Personally, I would sell up. The market is so slow at the moment that it can take ages to sell a house. House prices are looking very unpredictable at present and for the future. When you get those visas your just gonna want to get on a plane and go.


cheers


mich

tinaj

I would say it depends on how much more it is going to cost you to rent. Ours is just on the market and we have just lowered our mortage by nearly £500 p m, so it will cost us a lot more to rent.

What do the local estate agents reckon will happen to the property prices? Ours say they will stay static for next 2 years. In which case you could delay the sale and save some money. However, it is a lot less stressful being in rented. You can plan exactly when you leave and nothing can fall through at the last minute.

Weigh up the costs both sides. You could whack your profit in a high interest account for 12 months, that would also make you a bit of cash towards the rent price.


good luck in your decision.

Tinaj

james & bev

my view is as yours. Property here now at the top, low interest rates and recent/future cuts which may go another .25/.50% just about keeping it steady for the time being only. Take the money and run

obvious alot of conflicting views on this but this is my interpretation of all the information I have heard, watched, and read.

its your call but good luck either way


james

nosuchluck

Hi Jo
could you not stay with parents/family? that would be an ideal option!
i think you should take the money and run, i work for an estate agents and although the market has levelled off a bit the word is prices won't drop any futher! we've just sold a place that was on the market one day and got full asking! take the money, if you have a sound buyer who wants your home then sell, sell sell!
best wishes mate
rach

whisky

I personally would have put the house on the market, if I had thought that it was going to take this long to sell ours, but at the time, I wouldn't because there would have been no way I would have wanted to move somewhere else if our Visa had been refused.
It is a very difficult decision.

Whisky

Jolyn

I'd sell now. It sounds like it's taken you long enough to find a buyer this time - you don't want to risk prices dropping and having to do it all again.

Renting may be pricey but at least you know where you stand.

If you're paying rent you might be able to move out earlier too when you know your visa is about to arrive and take some holiday after quitting work. There are many places where what you're paying in rent would pay for a nice holiday apartment.

Good luck!

kevpreece

sell, sell, sell !!!!

best of luck

kev

steve-n-jo

short sweet and helpfull......its a difficult decision but nice to have the money !!! if we get the visa were laughing if we dont were gutted anyway...

steve-n-jo

thanx sound advice...and on our wavelength....its scary but exiteing !! and the holiday apartment is also a good point..

Ranger

We are emmergrating to melbourne in 2-3 weeks, and have decided to rent our house out.Firstly if we can't settle in oz we can move straight back in to it again (well after a bit of decor hopefully).I know house prices may drop but i d'ont think it will be much( it's all down to which way the int rates goes).Selling your house will be costly with soliciters fees when going and if you don't settle costly again if you return to the uk.

Bluey

Personally I'd go for it and sell, if you have a buyer go with it, as they are not always aroung when you need them. If you know when you're going roughly, surely you could put up with renting somewhere fairly cheap and crappy for a few months to keep the cost down in the knowledge that you're moving somewhere better. Once you get the visa, beleive me, you'll be itching to get on that plane.

Good luck whatever you choose to do,

Bluey.

Adelaide in October.........

ohsohopeful

Go for it

We're doing the same, probably not flying until after Xmas but are selling now and renting a holiday apartment in the meantime (less money and less commitment). It also allows us to put the majority of stuff straight into professional package and storage ready for the move...

As one of the posters said above, at least you'll know where you stand and won't left in the lurch without a buyer at the crucial time.

Jolyn

In our experience it's much easier to settle in a new country if you're in a position to buy somewhere as soon as you're ready.

We found even in the UK that neighbours treat you differently and are much more welcoming when you move in after buying a house rather than renting. You're considered to be more part of the community than someone renting and people are keen to convince you that your decision to commit to their area in a big financial way was the right one. People are more interested in building a friendship with you as you're more likely to be sticking around.

Also if you're used to having your own home then a rented place in Oz might compare unfavourably - a rental is never quite the same and can't be personalised as much. That might unfairly prejudice your decision as to whether to stay in Oz as you might not feel as settled and get homesick for your nice house that looked just how you wanted it.

So... if you've checked out Oz and are migrating then sell up and go for it. The tax position is more simple that way. Also if your tenants in the UK stop paying the rent it would be really hard to pay a UK mortgage plus Oz rent for yourself out of Aussie earnings. I've seen it happen and it's way too risky for me!

salonit

U still have 18 months to go!! Interest rates go down..so more desirable to buy and so will be easier to sell....and why waste 18 months in rent when u can build equity in ur house by paying the same in mortgage!!!

I say stay and sell nearer to time - u might surprise urself!!