Life been Naff
Sep 9th 2008, 9:19 am
#16
Forum Regular
Thread Starter
Joined: May 2008
Location: Nottinghamshire
Posts: 90
Re: Life been Naff
Given me a few ideas now , although we felt we HAD to sell had not thought about renting and paying some of the mortgage ourselves ummmm worth looking into as my husband gets an army pension and we could fund half say and that way we wouldnt lose so much on tax and exchange rate !! Certainly worth a thought especially as the housing market so poor at the moment and has to pick up one day !!
I will certainly be doing my homework now ...... Watch this space .
Many thanks
Debbie
I will certainly be doing my homework now ...... Watch this space .
Many thanks
Debbie
Sep 9th 2008, 9:30 am
#17
Forum Regular
Joined: Oct 2007
Location: Cowichan Bay, B.C. - Originally Basingstoke UK
Posts: 193
Re: Life been Naff
Could be a winner Debbie.
I wish we could afford to pay a bit of the mortgage from overseas -but I fear we will need every $ when we get there and sending it back halves it doesn't it.
Its a mine field - We have thought about renting but if we rent to non-family we have to change our mortgage over to a "business mortgage" and then pay tax on any profit (if any) and then pay a management agent 15-20%.....plus having someone I don't know in my house scares the life out of me.
I read somewhere also about Capital Gains Tax if you go to sell it later on - you have to have lived in it the last three years out of 5 when selling it to be exempt - HOWEVER I am also sure I read somewhere that as long as you sell from overseas you don't pay it (so don't go home to sell it!!) - not sure if there is any tax liable in Canada once living there?!?
I get confused with all the ins and outs and may have this wrong (as usual) but I think im getting a "work around" and something comes and slaps back down on the table.
I will perservere! hahahhah - x I shouldn't moan there are lots of people who are going to have to wait an age to get to Canada - so i've gotta take the rough with the smooth.
N
I wish we could afford to pay a bit of the mortgage from overseas -but I fear we will need every $ when we get there and sending it back halves it doesn't it.
Its a mine field - We have thought about renting but if we rent to non-family we have to change our mortgage over to a "business mortgage" and then pay tax on any profit (if any) and then pay a management agent 15-20%.....plus having someone I don't know in my house scares the life out of me.
I read somewhere also about Capital Gains Tax if you go to sell it later on - you have to have lived in it the last three years out of 5 when selling it to be exempt - HOWEVER I am also sure I read somewhere that as long as you sell from overseas you don't pay it (so don't go home to sell it!!) - not sure if there is any tax liable in Canada once living there?!?
I get confused with all the ins and outs and may have this wrong (as usual) but I think im getting a "work around" and something comes and slaps back down on the table.
I will perservere! hahahhah - x I shouldn't moan there are lots of people who are going to have to wait an age to get to Canada - so i've gotta take the rough with the smooth.
N
Sep 9th 2008, 9:36 am
#18
Forum Regular
Thread Starter
Joined: May 2008
Location: Nottinghamshire
Posts: 90
Re: Life been Naff
Thanks Nat ,
Like you i feel full of fear having strangers living in my house but will look into things , Im sure one way or another any money will be subject to tax albeit British or Canadian .
Worth a look x
Debbie
Like you i feel full of fear having strangers living in my house but will look into things , Im sure one way or another any money will be subject to tax albeit British or Canadian .
Worth a look x
Debbie
Sep 9th 2008, 9:43 am
#19
Forum Regular
Joined: Oct 2007
Location: Cowichan Bay, B.C. - Originally Basingstoke UK
Posts: 193
Re: Life been Naff
Worth a look x
Absolutely! Leave no stone unturned!
Any which way and all that hahah.
Good luck
N
Absolutely! Leave no stone unturned!
Any which way and all that hahah.
Good luck
N
Sep 9th 2008, 10:04 am
#20
Just Joined
Joined: Sep 2008
Posts: 24
Re: Life been Naff
Glad your daughter is on the mend and CONGRATULATIONS on the weight loss.
We are going to be in the exact same situation, but we have decided that he is going to go out first and I will follow next July.
We are going to sell the house fully furnished. That way hopefully it will be an incentive to a first time buyer also reduce shipping costs.
If we don't sell it, Im with some of the others, I can't imagine allowing someone to live here, when I want to sell it especially if they do any damage. And we can't afford to be sending any money back to top up the mortgage.
We are going to be in the exact same situation, but we have decided that he is going to go out first and I will follow next July.
We are going to sell the house fully furnished. That way hopefully it will be an incentive to a first time buyer also reduce shipping costs.
If we don't sell it, Im with some of the others, I can't imagine allowing someone to live here, when I want to sell it especially if they do any damage. And we can't afford to be sending any money back to top up the mortgage.
Sep 9th 2008, 10:45 am
#21
Weirdo Latin Dude
Joined: Aug 2008
Location: Hotter than hell
Posts: 2,545
Re: Life been Naff
Hi there,
We are torn at the moment it will either be Saskatoon or Alberta but will make our minds up after our visit next month . Where will you be going??
We are not in a position to rent it out as the rent would be to high plus couldnt imagen someone coming in and trashing our house , Our home is worth £300,000 got it up for £275,000 and stamp duty paid so if that doesnt help god only knows what we will do ! Bloody Gordan Brown !!
Debbie
We are torn at the moment it will either be Saskatoon or Alberta but will make our minds up after our visit next month . Where will you be going??
We are not in a position to rent it out as the rent would be to high plus couldnt imagen someone coming in and trashing our house , Our home is worth £300,000 got it up for £275,000 and stamp duty paid so if that doesnt help god only knows what we will do ! Bloody Gordan Brown !!
Debbie
As for renting out your property, waste of time as it will probably be trashed and then you will have to sell it for an even sillier price.
The problem is that UK housing especially in the SE has always been ridiculoulsy priced anyway and now properties are probably selling for what they are really worth anyway.
Sep 9th 2008, 11:03 am
#22
Forum Regular
Joined: Jul 2007
Location: blackpool
Posts: 197
Re: Life been Naff
We are in the same boat - Had house on market since March no offers, Estate Agent was crap ( putting it mildly) Both myself and hubby have jobs waiting. We were hoping to be in Vancouver island bythe begining of September for the kids starting back at school. My son who is 11 was due to start senior school here in Septemeber and I didnt want to have to go out and buy the whole uniform e tc etc for the sake of 2 weeks - plus its a big change for him to start senior school to then have to move again to another new school a few weeks later. I have had to give up on not sending him to school as we are stiill here in the UK and waiting for my bloody TWP - so cost me over £100 last week for his new uniform, and I have got to be in Vanc for 7th Oct for my nusring exam - so yeah what a waste of money!!!
House - We have decided to rent it out now - although it wont cover our full mortgage and we will have to send some money back to cover fee's and top up mortgage we have decided this is the only was we can go. We also convinced ourselves that its not a bad idea as should things not work out ( you just never know) and we have to come back to the UK, with the housing and mortgage situation as it is, its highhly unlikely we would be able to get a mortgage again ( hubby has been self employed for 5 years) and neither of us would have been working in UK recently. so at least we would have ahome to come back to. If all goes well we will look to sell again in 3-4 years.
So in a large nutshell - your not alone, theres a few of us pulling hair out atthe situation in the UK atthe moment - plus we have the great slap in the face which is that as a result we now have a crappy exchange rate to deal with - oh Joy - where the light in this tunnel??????? lol
House - We have decided to rent it out now - although it wont cover our full mortgage and we will have to send some money back to cover fee's and top up mortgage we have decided this is the only was we can go. We also convinced ourselves that its not a bad idea as should things not work out ( you just never know) and we have to come back to the UK, with the housing and mortgage situation as it is, its highhly unlikely we would be able to get a mortgage again ( hubby has been self employed for 5 years) and neither of us would have been working in UK recently. so at least we would have ahome to come back to. If all goes well we will look to sell again in 3-4 years.
So in a large nutshell - your not alone, theres a few of us pulling hair out atthe situation in the UK atthe moment - plus we have the great slap in the face which is that as a result we now have a crappy exchange rate to deal with - oh Joy - where the light in this tunnel??????? lol
Sep 9th 2008, 1:50 pm
#23
Lost in BE Cyberspace
Joined: Jul 2006
Location: Cochrane, Alberta
Posts: 7,861
Re: Life been Naff
When you said it made you re-think things, I thought you meant it might have made you think about hospitals, and health care, and family support, etc. I trust you daughter is now on the mend and I wish you all well. I'm not being negative (just practical) - where are you going and what services and support will you have in place should you need it?
Sep 9th 2008, 2:54 pm
#24
Forum Regular
Thread Starter
Joined: May 2008
Location: Nottinghamshire
Posts: 90
Re: Life been Naff
Ann ,
Not 100 % sure why you ask , But will try and answer . My daughter has just spent almost a week in hospital as they thought her appendix was grumbling which in fact turned out to be her bowels. Any how we managed with the help of friends and no one else , Graham and i have always travelled due to him being in the army so have never had the support of family to help us out. My mum died when i was 21 and grahams mum is in her late 70s so sadly my children never had close grandparents around, So for us where ever we are should things happen we have always just dealt with it.
We hope to go to either Calgary or Saskatoon. Granted hubby will be away for weeks at a time as he will be doing long haul, But like i said in the army he was away for months at a time i am sort of used to it now , i managed 5 years in Germany i look forward to the challenge.
Hope that answers youyr question ann, What we are trying to do now is get our house sold and go for it !! Any advice greatly appreciated
Regards
Debbie
Not 100 % sure why you ask , But will try and answer . My daughter has just spent almost a week in hospital as they thought her appendix was grumbling which in fact turned out to be her bowels. Any how we managed with the help of friends and no one else , Graham and i have always travelled due to him being in the army so have never had the support of family to help us out. My mum died when i was 21 and grahams mum is in her late 70s so sadly my children never had close grandparents around, So for us where ever we are should things happen we have always just dealt with it.
We hope to go to either Calgary or Saskatoon. Granted hubby will be away for weeks at a time as he will be doing long haul, But like i said in the army he was away for months at a time i am sort of used to it now , i managed 5 years in Germany i look forward to the challenge.
Hope that answers youyr question ann, What we are trying to do now is get our house sold and go for it !! Any advice greatly appreciated
Regards
Debbie
Sep 9th 2008, 7:15 pm
#25
Just Joined
Joined: Apr 2008
Posts: 29
Re: Life been Naff
Hi Debbie
Really pleased your daughter is on the mend.
Like Ann I originally thought you were refering to health care etc. Was almost holding my breath anticipating some horror stories about bad health care and back-up over there. Sigh of relief that's not what you meant.
Been a house owner long enough to have nearly bought a 2 bed town house for £4000 as my first house
Weathered a few housing ups and downs and as I recall if this is typical of previous housing market down turns it will last about 2 years and in that time builders won't be building which means that in about 2 years time things will be easier and people will be buying but due to the lack of houses being built there will be a shortage of houses on the market meaning that people are both willing and able to pay a bit more = an increase in house prices. Therefore IF anyone is fortunate to be able to rent their house out they may get a better return on their property. Someone I know has recently been fortunate enough to rent theirs out to a family on 'rent with a view to purchase' as the person renting has just secured a job in the area but not yet sold their own property. Talking to them, they feel they key go renting out is to convince themselves it's not their home, just a property.
We are intending for OH to go out as soon as he secures a job to find a suitable property for us before taking the kids out that way we will hopefully be in the right area etc before upheaval of school/uni. Somehow the 6 week summer hols just doesn't seen quite long enough though!
Really pleased your daughter is on the mend.
Like Ann I originally thought you were refering to health care etc. Was almost holding my breath anticipating some horror stories about bad health care and back-up over there. Sigh of relief that's not what you meant.
Been a house owner long enough to have nearly bought a 2 bed town house for £4000 as my first house
Weathered a few housing ups and downs and as I recall if this is typical of previous housing market down turns it will last about 2 years and in that time builders won't be building which means that in about 2 years time things will be easier and people will be buying but due to the lack of houses being built there will be a shortage of houses on the market meaning that people are both willing and able to pay a bit more = an increase in house prices. Therefore IF anyone is fortunate to be able to rent their house out they may get a better return on their property. Someone I know has recently been fortunate enough to rent theirs out to a family on 'rent with a view to purchase' as the person renting has just secured a job in the area but not yet sold their own property. Talking to them, they feel they key go renting out is to convince themselves it's not their home, just a property.
We are intending for OH to go out as soon as he secures a job to find a suitable property for us before taking the kids out that way we will hopefully be in the right area etc before upheaval of school/uni. Somehow the 6 week summer hols just doesn't seen quite long enough though!
Last edited by NSboundTaffys; Sep 9th 2008 at 7:18 pm.
Sep 9th 2008, 10:31 pm
#26
Joined: Feb 2006
Location: Red Deer, Alberta
Posts: 10,612
Re: Life been Naff
Just wanted to say hope your daughter gets better soon.
Sep 11th 2008, 7:40 pm
#27
Forum Regular
Joined: Aug 2008
Posts: 134
Re: Life been Naff
I was in the same position but decided that I cant do anything about the global economy, uk economy or the housing market so quickly moved to rental.
I released some equity in the UK property to set up in canada, the rent covers the mortgage in the UK (just) and have just rented a property in calgary that I move into in october.
It will be a bit of a pain having to 'run' the uk property from canada but nothing was going to stop me moving.
dont let things you cant control get you down as there are always alternatives and certainly dont make these issues change your mind
I released some equity in the UK property to set up in canada, the rent covers the mortgage in the UK (just) and have just rented a property in calgary that I move into in october.
It will be a bit of a pain having to 'run' the uk property from canada but nothing was going to stop me moving.
dont let things you cant control get you down as there are always alternatives and certainly dont make these issues change your mind
Sep 11th 2008, 9:10 pm
#28
Weirdo Latin Dude
Joined: Aug 2008
Location: Hotter than hell
Posts: 2,545
Re: Life been Naff
I was in the same position but decided that I cant do anything about the global economy, uk economy or the housing market so quickly moved to rental.
I released some equity in the UK property to set up in canada, the rent covers the mortgage in the UK (just) and have just rented a property in calgary that I move into in october.
It will be a bit of a pain having to 'run' the uk property from canada but nothing was going to stop me moving.
dont let things you cant control get you down as there are always alternatives and certainly dont make these issues change your mind
I released some equity in the UK property to set up in canada, the rent covers the mortgage in the UK (just) and have just rented a property in calgary that I move into in october.
It will be a bit of a pain having to 'run' the uk property from canada but nothing was going to stop me moving.
dont let things you cant control get you down as there are always alternatives and certainly dont make these issues change your mind
