To sell or not to sell that is the question
Jun 15th 2003, 11:39 pm
#1
Forum Regular
Thread Starter
Joined: Apr 2003
Location: Surrey soon NZ
Posts: 74
To sell or not to sell that is the question
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
Jun 16th 2003, 3:33 am
#2
Banned
Joined: Aug 2002
Location: Perth Arse end of the planet
Posts: 7,037
Re: To sell or not to sell that is the question
Originally posted by stooly
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
Jun 16th 2003, 3:44 am
#3
BE Forum Addict
Joined: Jun 2003
Posts: 1,185
Re: To sell or not to sell that is the question
Originally posted by stooly
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
My advice is to keep the house so you have somewhere to return to. If you go thinking "thank god we have escaped", you are setting yourself up for a big disappointment once the novelty has gone.
Jun 16th 2003, 11:44 am
#4
A Male Member
Joined: Apr 2003
Location: Townsville
Posts: 2,106
Re: To sell or not to sell that is the question
Originally posted by stooly
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
Although i think it would be wise to keep your property over here both from a view to possibly one day returning, and also from a financial standpoint, you may be unable to do so on an NZ salary.
Jun 16th 2003, 12:42 pm
#5
BE Forum Addict
Joined: May 2003
Location: GC
Posts: 3,353
Re: To sell or not to sell that is the question
Originally posted by PeteY
Im not sure what work you do, but chances are you may be hard pressed to pay the repayments form NZ, as well as repayments on a mortgage over here.....
Although i think it would be wise to keep your property over here both from a view to possibly one day returning, and also from a financial standpoint, you may be unable to do so on an NZ salary.
Im not sure what work you do, but chances are you may be hard pressed to pay the repayments form NZ, as well as repayments on a mortgage over here.....
Although i think it would be wise to keep your property over here both from a view to possibly one day returning, and also from a financial standpoint, you may be unable to do so on an NZ salary.
Jun 16th 2003, 12:55 pm
#6
Forum Regular
Thread Starter
Joined: Apr 2003
Location: Surrey soon NZ
Posts: 74
PB and Wilf please note I am not escaping anything. I have lived in other countries before and know that everything is not nice and shiny. My husband is a graphic designer who has been offered a well paid job in Auckland and I am a accounting technician. We are not cleaners,fruit pickers or brainless. Not that have'nt done all of these jobs in past when my finanical situation was different. I wanted some sound good advice not the usual nonsence that you two love to dish out. You two should have your own tv show. THE DUMBEST AND THE EVEN MORE DUMBER.
Jun 16th 2003, 2:45 pm
#7
Senior Member
Joined: May 2003
Location: Soon 2 Be Ozland
Posts: 317
Originally posted by stooly
PB and Wilf please note I am not escaping anything. I have lived in other countries before and know that everything is not nice and shiny. My husband is a graphic designer who has been offered a well paid job in Auckland and I am a accounting technician. We are not cleaners,fruit pickers or brainless. Not that have'nt done all of these jobs in past when my finanical situation was different. I wanted some sound good advice not the usual nonsence that you two love to dish out. You two should have your own tv show. THE DUMBEST AND THE EVEN MORE DUMBER.
PB and Wilf please note I am not escaping anything. I have lived in other countries before and know that everything is not nice and shiny. My husband is a graphic designer who has been offered a well paid job in Auckland and I am a accounting technician. We are not cleaners,fruit pickers or brainless. Not that have'nt done all of these jobs in past when my finanical situation was different. I wanted some sound good advice not the usual nonsence that you two love to dish out. You two should have your own tv show. THE DUMBEST AND THE EVEN MORE DUMBER.
stooly doesnt like you PB and Wilf, i think youve upset her!!!!!!!!!!!!!
Try not to be so harsh, she's only looking for a bit of advice...
cheers
Jun 16th 2003, 10:41 pm
#8
Just Joined
Joined: Apr 2003
Location: Hamilton, NZ
Posts: 5
Have had a smilar debate myself, I am hoping to go to NZ initially on a work visa as an Occupational Therapist but will stay if I really like it. I have decided in the end to sell my house as I feel the property market may stagnate for a while, renting also seemed to get very complicated. I plan to invest the profit on the house initially and then can use it as a deposit in either country depending on the situation. I guess maybe as a single guy my options are less complicated than those with a family. Sorry no pearls of wisdom but at least lets you know what others are doing.
Becketboy.
Becketboy.
Jun 16th 2003, 11:02 pm
#9
Forum Regular
Thread Starter
Joined: Apr 2003
Location: Surrey soon NZ
Posts: 74
We've worked it out and decided to sell. We want to buy a house because we have a son of 2 and daughter of 6 who we feel needs somewhere to call home. Also we want to buy a secondhand car and we have an opportunity to also own a business which we are currently talking about. So all and all we want to take our money and RUN to try for a better life for ourselves and our children.
Jun 16th 2003, 11:10 pm
#10
BE Forum Addict
Joined: Jun 2003
Posts: 1,185
Originally posted by stooly
We've worked it out and decided to sell. We want to buy a house because we have a son of 2 and daughter of 6 who we feel needs somewhere to call home. Also we want to buy a secondhand car and we have an opportunity to also own a business which we are currently talking about. So all and all we want to take our money and RUN to try for a better life for ourselves and our children.
We've worked it out and decided to sell. We want to buy a house because we have a son of 2 and daughter of 6 who we feel needs somewhere to call home. Also we want to buy a secondhand car and we have an opportunity to also own a business which we are currently talking about. So all and all we want to take our money and RUN to try for a better life for ourselves and our children.
Jun 17th 2003, 7:00 am
#11
(It's not my real name)
Joined: Sep 2002
Location: Ilukapool. WA
Posts: 12,467
Re: To sell or not to sell that is the question
Originally posted by stooly
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
The money comes in very handy.
Jun 17th 2003, 7:05 am
#12
Banned
Joined: Aug 2002
Location: Perth Arse end of the planet
Posts: 7,037
Re: To sell or not to sell that is the question
Originally posted by renth
We've kept our cottage in Sussex and are renting it out.
The money comes in very handy.
We've kept our cottage in Sussex and are renting it out.
The money comes in very handy.
You are far too smart for the members on this forum and wasted in a dead end goverment job here.
Jun 17th 2003, 8:23 am
#13
BE Forum Addict
Joined: Dec 2002
Location: newbury
Posts: 1,015
we shall keep our house
1 it gives us security if we want to return
2 it gives us an additional income if we don't
3 if our daughter wants to live in the uk we can set her up
4 it's our retirement fund
with any different combination of those 4 keeping our house here seems to make sense..
cheers
richard
1 it gives us security if we want to return
2 it gives us an additional income if we don't
3 if our daughter wants to live in the uk we can set her up
4 it's our retirement fund
with any different combination of those 4 keeping our house here seems to make sense..
cheers
richard
Jun 17th 2003, 9:17 am
#14
Forum Regular
Joined: May 2003
Location: Sydney, Australia
Posts: 63
We are keeping our house too, we are just releasing some equity, and taking that as a deposit. We are renting our place in the UK, and rent coming in should cover the mortage over the year, providing on average the place is occupied 9 months of the year.
Jun 17th 2003, 10:30 am
#15
BE Enthusiast
Joined: Mar 2002
Posts: 498
Re: To sell or not to sell that is the question
Originally posted by stooly
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
Need advice, our house is on the market and we are not sure it is the right thing to do. These are our options,
1. Sell it and run like the wind to NZ
2. Extend our mortgage to 25 years(14 remaining) and take the equity(£34K) rent and run to NZ
3. Continue to have 14 years remaining, rent it out and cover the outstanding about of £300 per month($840). Go to NZ with nothing and get a $200 to $250k house mortgaged. Repaying average $2200 per month and $1100 bills
Help in need of real advice. i have no intentions of returning to the UK but my husband thinks it may be worth looking into and I agree with him.
Thank you for any advice we receive.
If you keep the house (and the mortgage that goes with it) then you will have no equity to invest in your new home in NZ. The housing market in the UK (especially Surrey) has peaked. You may not get a better price for your home for many years. Why would you want to leave such a responsibility behind in the UK when you are trying to start a new life on the other side of the world? If you can find a buyer the sell asap before it is too late.
If you like the idea of renting out a property then buy yourself an investment property in NZ after you have bought your home there.
Options 2 and 3 will also cost you dear in taxation.