It feels like we never went...
Oct 14th 2009, 7:51 pm
#46
half a century
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Oct 15th 2009, 1:07 am
#47
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Joined: Mar 2006
Location: Maple Ridge
Posts: 165
Re: It feels like we never went...
Not at all pathetic. The time it takes for all us immigrants to Canada to realise that the UK is the place for them is different for everyone. For some it's many years, for others it's a few months. The best thing is realising something is wrong, working out that it could be life in Canada and then making a "sanity check" visit to the UK to see around those rose tinted glasses we sometimes wear.
We were in Canada for 10 months before bouncing back to the UK after a bout of homesickness and then bouncing back to Canada for another few years before the light bulb went on for us!
We've been here in Canada six years now (Maple Ridge currently) and the house sold last week, hopefully the final condition for the sale is lifted on time tomorrow and we'll be on a flight to the UK (please, please) on the 11th December.
We were in Canada for 10 months before bouncing back to the UK after a bout of homesickness and then bouncing back to Canada for another few years before the light bulb went on for us!
We've been here in Canada six years now (Maple Ridge currently) and the house sold last week, hopefully the final condition for the sale is lifted on time tomorrow and we'll be on a flight to the UK (please, please) on the 11th December.
Congrats Ciderman - hopefully it will be us soon. We have had about 10 viewings but no offers so realtor (who priced it?! advised us to reduce)and have just reduced - (but I can't go any lower so fingers crossed) Did you have to pay the penalty fee on your mortgage?? It is that that has created the lack of wriggle room. If it doesn't sell for current price I will have to look into long term rental
Last edited by Griff; Oct 15th 2009 at 1:12 am. Reason: added additional info
Oct 15th 2009, 1:10 am
#48
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Re: It feels like we never went...
You might regret offering...(only joking)
I work full time but after Jan will have many evenings on my own so may just need that support then!!
Elaine
How did the gym go? I here it is okay in there
Oct 15th 2009, 4:35 am
#49
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Location: Sarf Lundun to East Van :)
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Re: It feels like we never went...
Carri
Oct 15th 2009, 3:53 pm
#50
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Joined: Aug 2009
Location: Cotswolds, UK
Posts: 205
Re: It feels like we never went...
Congrats Ciderman - hopefully it will be us soon. We have had about 10 viewings but no offers so realtor (who priced it?! advised us to reduce)and have just reduced - (but I can't go any lower so fingers crossed) Did you have to pay the penalty fee on your mortgage?? It is that that has created the lack of wriggle room. If it doesn't sell for current price I will have to look into long term rental
Oct 15th 2009, 6:08 pm
#51
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Joined: Jan 2009
Posts: 120
Re: It feels like we never went...
We're in the lucky position of having left the UK property market at the right time and bought/sold our various houses here in Canada also at the right time as well so currently don't have a mortgage. We did lose $50,000 on the house sale compared to what we paid but it's a small price for freedom and we did manage to get the full asking price. We can recommend our English friend who's a realtor if you feel your's isn't doing the best for you.
Can I ask if you have jobs to go back to or are you reasonably confident of getting one when you get back? Our dilemma at the moment is which to do first -get a job and then have the stress of the house taking a long time to sell and muggins here being left with 2 kids ,a house to sell and all the packing to do etc on my own. It seems quite a big risk to sell up and move back with no jobs however .I'm just unsure at the moment how to go about it
Oct 15th 2009, 7:47 pm
#52
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Location: Cotswolds, UK
Posts: 205
Re: It feels like we never went...
I'm very envious Ciderman but hopefully we won't be too far behind you. We are probably going to take a hit getting out of our 5 yr fixed mortgage but as you say what price happiness?
Can I ask if you have jobs to go back to or are you reasonably confident of getting one when you get back? Our dilemma at the moment is which to do first -get a job and then have the stress of the house taking a long time to sell and muggins here being left with 2 kids ,a house to sell and all the packing to do etc on my own. It seems quite a big risk to sell up and move back with no jobs however .I'm just unsure at the moment how to go about it
Can I ask if you have jobs to go back to or are you reasonably confident of getting one when you get back? Our dilemma at the moment is which to do first -get a job and then have the stress of the house taking a long time to sell and muggins here being left with 2 kids ,a house to sell and all the packing to do etc on my own. It seems quite a big risk to sell up and move back with no jobs however .I'm just unsure at the moment how to go about it
The thing we have found is that unless you have a firm arrival date in the UK at the moment they seem to be giving preference to people who are already there which is fair given the current economic climate.
The big financial challenge with the house sale is that it apparently has to go through before you leave Canada or they with hold something like 25% in tax unless you can prove you made a capital loss. If you've bought recently it's not too hard to prove but if you've bought quite a few years ago the house will probably still be worth more than you've paid when it sells.
We decided our sanity and happiness was worth the gamble and have some savings set aside to tide us over for a few months.
Oct 15th 2009, 7:54 pm
#53
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Joined: Mar 2008
Location: Sarf Lundun to East Van :)
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Re: It feels like we never went...
We don't have jobs to go back to yet but are working on that at the moment now that the house is sold. I'm fairly confident we'll find work once we get back. It may not be in the first month as it will be Christmas.
The thing we have found is that unless you have a firm arrival date in the UK at the moment they seem to be giving preference to people who are already there which is fair given the current economic climate.
The big financial challenge with the house sale is that it apparently has to go through before you leave Canada or they with hold something like 25% in tax unless you can prove you made a capital loss. If you've bought recently it's not too hard to prove but if you've bought quite a few years ago the house will probably still be worth more than you've paid when it sells.
We decided our sanity and happiness was worth the gamble and have some savings set aside to tide us over for a few months.
The thing we have found is that unless you have a firm arrival date in the UK at the moment they seem to be giving preference to people who are already there which is fair given the current economic climate.
The big financial challenge with the house sale is that it apparently has to go through before you leave Canada or they with hold something like 25% in tax unless you can prove you made a capital loss. If you've bought recently it's not too hard to prove but if you've bought quite a few years ago the house will probably still be worth more than you've paid when it sells.
We decided our sanity and happiness was worth the gamble and have some savings set aside to tide us over for a few months.
Oct 15th 2009, 8:05 pm
#54
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Location: Cotswolds, UK
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Re: It feels like we never went...
I think there's a few threads on this topic in the MBTTUK forum. Don't know the in-depth details around selling after you stay but believe that if you sell after you leave they withhold the 20 odd percent for a couple of months until you fill in some forms to claim it back on the basis you've not made a profit.
It seems that the buyer's lawyer handling the sale fills out some questionnaire that covers this topic.
Probably best to ask a friendly tax person. The one at our local bank said it's not a problem as long as you sell before leaving Canada. When we originally came to Canada our house sale had a few issues which resulted in it finally selling after leaving England and from personal experience I wouldn't want to go through handling a house sale from the wrong side of an ocean again.
It seems that the buyer's lawyer handling the sale fills out some questionnaire that covers this topic.
Probably best to ask a friendly tax person. The one at our local bank said it's not a problem as long as you sell before leaving Canada. When we originally came to Canada our house sale had a few issues which resulted in it finally selling after leaving England and from personal experience I wouldn't want to go through handling a house sale from the wrong side of an ocean again.
Oct 16th 2009, 4:23 am
#55
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Joined: Mar 2006
Location: Maple Ridge
Posts: 165
Re: It feels like we never went...
Crikey, there's so much to this "getting out intact" isn't there??
Ciderman I apologise now that you are probably going to be inundated with questions and just remember BettyBoo, Me and 4bells will be watching your escape, drooling at the mouth, chomping at the bit!
I will stay with the current realtor at present (but will holler if need to later for yours) and actually if we had made money on the property (which I doubted anyway) then looks like the CRA would have had their slice of that so in that sense I am even more happy to just break even and perhaps take a slight loss. Sadly Bettyboo we are in a 5 year fixed rate and I was told that the figure to pay it off was my mortgage + $13,300 for the priveledge (not). I was nearly sick...
I know the longer we stay on the market that will drop but it is so stressful being on the market that I want to just sell and rent, that way OH can help me move before he goes. (he has a return to work date of 5th Jan, so will probabably fly Dec 31st)
This whole experience has been financial madness, fortunately we have work to return to otherwise this would not be happening.
Ciderman I apologise now that you are probably going to be inundated with questions and just remember BettyBoo, Me and 4bells will be watching your escape, drooling at the mouth, chomping at the bit!
I will stay with the current realtor at present (but will holler if need to later for yours) and actually if we had made money on the property (which I doubted anyway) then looks like the CRA would have had their slice of that so in that sense I am even more happy to just break even and perhaps take a slight loss. Sadly Bettyboo we are in a 5 year fixed rate and I was told that the figure to pay it off was my mortgage + $13,300 for the priveledge (not). I was nearly sick...
I know the longer we stay on the market that will drop but it is so stressful being on the market that I want to just sell and rent, that way OH can help me move before he goes. (he has a return to work date of 5th Jan, so will probabably fly Dec 31st)
This whole experience has been financial madness, fortunately we have work to return to otherwise this would not be happening.
Oct 16th 2009, 12:28 pm
#56
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Location: oakville ON
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Re: It feels like we never went...
Oct 16th 2009, 1:18 pm
#57
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Joined: May 2006
Location: Its good ere Honest........
Posts: 5,225
Re: It feels like we never went...
Crikey, there's so much to this "getting out intact" isn't there??
Ciderman I apologise now that you are probably going to be inundated with questions and just remember BettyBoo, Me and 4bells will be watching your escape, drooling at the mouth, chomping at the bit!
I will stay with the current realtor at present (but will holler if need to later for yours) and actually if we had made money on the property (which I doubted anyway) then looks like the CRA would have had their slice of that so in that sense I am even more happy to just break even and perhaps take a slight loss. Sadly Bettyboo we are in a 5 year fixed rate and I was told that the figure to pay it off was my mortgage + $13,300 for the priveledge (not). I was nearly sick...
I know the longer we stay on the market that will drop but it is so stressful being on the market that I want to just sell and rent, that way OH can help me move before he goes. (he has a return to work date of 5th Jan, so will probabably fly Dec 31st)
This whole experience has been financial madness, fortunately we have work to return to otherwise this would not be happening.
Ciderman I apologise now that you are probably going to be inundated with questions and just remember BettyBoo, Me and 4bells will be watching your escape, drooling at the mouth, chomping at the bit!
I will stay with the current realtor at present (but will holler if need to later for yours) and actually if we had made money on the property (which I doubted anyway) then looks like the CRA would have had their slice of that so in that sense I am even more happy to just break even and perhaps take a slight loss. Sadly Bettyboo we are in a 5 year fixed rate and I was told that the figure to pay it off was my mortgage + $13,300 for the priveledge (not). I was nearly sick...
I know the longer we stay on the market that will drop but it is so stressful being on the market that I want to just sell and rent, that way OH can help me move before he goes. (he has a return to work date of 5th Jan, so will probabably fly Dec 31st)
This whole experience has been financial madness, fortunately we have work to return to otherwise this would not be happening.
Leaving me and my son in Canada, to sell the house and pack. It was a case of needs must for us and was quite scary at first, but it all turned out fine in the end......
We also was in a 5 yr fixed morgage with RBC ,that had only been running for 8mths.... if i remember right we had to forfeit 3 mths morgage payments on completion of sale...Good Luck
Oct 17th 2009, 12:27 am
#58
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Re: It feels like we never went...
Hi Griff....Your situation is very simular to what ours was in 08. My OH returned to the UK March 3rd 08, to start work with daughter in tow. Leaving me and my son in Canada, to sell the house and pack.
It was a case of needs must for us and was quite scary at first, but it all turned out fine in the end......
We also was in a 5 yr fixed morgage with RBC ,that had only been running for 8mths.... if i remember right we had to forfeit 3 mths morgage payments on completion of sale...Good Luck
Leaving me and my son in Canada, to sell the house and pack. It was a case of needs must for us and was quite scary at first, but it all turned out fine in the end......
We also was in a 5 yr fixed morgage with RBC ,that had only been running for 8mths.... if i remember right we had to forfeit 3 mths morgage payments on completion of sale...Good Luck
That's really good to hear as I do have times when I think this is an unatainable goal. I just wished we had rented rather than bought - things would be much easier and we would not have lost so much financially. How is life back there - no regrets? Where abouts are you? we will be returning to the Derbyshire area
Elaine
Oct 17th 2009, 1:19 am
#59
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Location: Near Kingston, Ontario
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Re: It feels like we never went...
No they do not- we had the same situation when we moved to USA ( now back in Canada)- you have to complete a t2033 which the lawyer sends off to CCRA- it takes about 3 months for the funds to be released again and if its your principle residence then there is no issue..
Oct 17th 2009, 4:14 am
#60
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Re: It feels like we never went...
Thanks Sans
That's really good to hear as I do have times when I think this is an unatainable goal. I just wished we had rented rather than bought - things would be much easier and we would not have lost so much financially. How is life back there - no regrets? Where abouts are you? we will be returning to the Derbyshire area
Elaine
That's really good to hear as I do have times when I think this is an unatainable goal. I just wished we had rented rather than bought - things would be much easier and we would not have lost so much financially. How is life back there - no regrets? Where abouts are you? we will be returning to the Derbyshire area
Elaine
$ 13,000 doesnt sound so bad to the $27,000 we were quoted a couple of months ago
Hopefully the interest rates will have gone up by the time we sell or maybe the guy at Coast Capital was talking out his arse (well you can dream can't you!)