To Let or To Sell ... That Is The Question
Oct 15th 2006, 10:53 pm
#16
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Joined: Aug 2006
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Re: To Let or To Sell ... That Is The Question
Originally Posted by lardyl
yes I can defend myself but I think it was not intended to reply to me..... anyway it is MrsL who has the slight width problem, on account of being under-tall, and all spun out around the middle, and having only recently finished breast feeding (no it was not me!!!!).....
any road up I must get more drink in to drown my sorrows......
cya in the bar........
any road up I must get more drink in to drown my sorrows......
cya in the bar........
I've had 4 kids and the only thing that keeps my belly in place is the zip on my trousers!!!
Anyway, back to rent or sell ...?
Oct 15th 2006, 11:06 pm
#17
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Re: To Let or To Sell ... That Is The Question
Originally Posted by Am Loolah
Comments more than advice required really please.
We have a lump sum of money to take to NZ with us. But we have a house which we have lived in for 4 years and are in the process of doing/tarting it up. Because of our timings and our neighbour from Hell we have reservations about leaving it empty if we put it up for sale when we go.
It will be Winter, always a crap time to sell, particularly here in the South West - not to mention cold, wet etc.
The house is approx 140 years old and has all the problems one would expect in a building of this age. Potentially, to let it on a 6 month tenancy could result in numerous payments out of the rental income for tenant demands!
Ideally we want the capital released for our new start in NZ. To get round the "Wonky Donkey" unhinged neighbour we can have alarm installed (wouldn't stop a fire though?!) We could install professional housesitters (wouldn't stop neighbour breaking them down for info about us and our whereabouts etc?!)
We are not in a position where we want to keep the property incase we want to return. I would say our first choice would be to sell it, but if it sat empty for months on end over the winter, with strange neighbour and only one person to rely on to sporadically check up on it for us, maybe we'd be better letting it until the Summer?
Hmmm?
We have a lump sum of money to take to NZ with us. But we have a house which we have lived in for 4 years and are in the process of doing/tarting it up. Because of our timings and our neighbour from Hell we have reservations about leaving it empty if we put it up for sale when we go.
It will be Winter, always a crap time to sell, particularly here in the South West - not to mention cold, wet etc.
The house is approx 140 years old and has all the problems one would expect in a building of this age. Potentially, to let it on a 6 month tenancy could result in numerous payments out of the rental income for tenant demands!
Ideally we want the capital released for our new start in NZ. To get round the "Wonky Donkey" unhinged neighbour we can have alarm installed (wouldn't stop a fire though?!) We could install professional housesitters (wouldn't stop neighbour breaking them down for info about us and our whereabouts etc?!)
We are not in a position where we want to keep the property incase we want to return. I would say our first choice would be to sell it, but if it sat empty for months on end over the winter, with strange neighbour and only one person to rely on to sporadically check up on it for us, maybe we'd be better letting it until the Summer?
Hmmm?
if you decide to rent then may be do it thru a letting agent, as they can manage all the hassles rather than you having to do from overseas
we will shortly have money to buy a house here
good luck with your final decision
Oct 15th 2006, 11:16 pm
#18
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Joined: Aug 2006
Posts: 7,208
Re: To Let or To Sell ... That Is The Question
Originally Posted by kwprwn
i would sy to sell it definitely and if you can do it before you leave all the better....we have finally sold our house 6 months after getting here, we were going to wait but personal circumstances changed plans for us, it was a bit of a worry having an empty house in the uk
if you decide to rent then may be do it thru a letting agent, as they can manage all the hassles rather than you having to do from overseas
we will shortly have money to buy a house here
good luck with your final decision
if you decide to rent then may be do it thru a letting agent, as they can manage all the hassles rather than you having to do from overseas
we will shortly have money to buy a house here
good luck with your final decision
I think we try to sell, failing that actually happening before our timescale we keep it on the market when we've gone and to be honest it may have more chance of selling when we don't all live here!! It should sell ok when it's been re-decorated as is lovely house, in lovely setting, so fingers crossed.
Oct 15th 2006, 11:16 pm
#19
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kwprwn
i would sy to sell it definitely and if you can do it before you leave all the better....we have finally sold our house 6 months after getting here, we were going to wait but personal circumstances changed plans for us, it was a bit of a worry having an empty house in the uk
if you decide to rent then may be do it thru a letting agent, as they can manage all the hassles rather than you having to do from overseas
we will shortly have money to buy a house here
good luck with your final decision
if you decide to rent then may be do it thru a letting agent, as they can manage all the hassles rather than you having to do from overseas
we will shortly have money to buy a house here
good luck with your final decision
You could sell, put the cash into a income-yielding UK property fund. That would be tax free in NZ. And it would (roughly) track the property market so if you wanted to come back to the UK it would buy the same kind of house.
K.
Oct 15th 2006, 11:20 pm
#20
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kt0157
One point that might help: foreign investment income is tax free in NZ for new residents (limited time special offer only!). Then again, rental income is taxed in the UK. Boo.
You could sell, put the cash into a income-yielding UK property fund. That would be tax free in NZ. And it would (roughly) track the property market so if you wanted to come back to the UK it would buy the same kind of house.
K.
You could sell, put the cash into a income-yielding UK property fund. That would be tax free in NZ. And it would (roughly) track the property market so if you wanted to come back to the UK it would buy the same kind of house.
K.
Oct 15th 2006, 11:22 pm
#21
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kt0157
One point that might help: foreign investment income is tax free in NZ for new residents (limited time special offer only!). Then again, rental income is taxed in the UK. Boo.
You could sell, put the cash into a income-yielding UK property fund. That would be tax free in NZ. And it would (roughly) track the property market so if you wanted to come back to the UK it would buy the same kind of house.
K.
You could sell, put the cash into a income-yielding UK property fund. That would be tax free in NZ. And it would (roughly) track the property market so if you wanted to come back to the UK it would buy the same kind of house.
K.
Oct 15th 2006, 11:47 pm
#22
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kwprwn
sorry for being thick...but what is foreign investment income
Things like bank interest in UK banks, or rental income, or dividends from shares, or royalties from book sales, that kind of thing.
K.
Oct 15th 2006, 11:53 pm
#23
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Re: To Let or To Sell ... That Is The Question
Originally Posted by Am Loolah
Ahhh, right, interesting, please translate to English and explain!! Does that mean the rental income that is taxed in the UK, isn't taxed again when received as income in NZ? Am Loolah, speak slowly!!
But there's a special regime for new residents (a temporary regime) where there is no tax due in NZ. Although you have to pay income tax in the UK on the rent from your UK house (20% if I remember right), you do get a tax allowance (so the first £4K of rent is tax free in the UK, and of course tax free in NZ too).
It's just a thought. If you sold the house and moved the money to NZ you'd pay tax on the bank interest in NZ. So if you do cash out, move the money to an offshore bank where there's no tax deducted (Isle of Man, Jersey, etc.) and then you can take the interest tax free.
K.
Oct 15th 2006, 11:56 pm
#24
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kt0157
But there's a special regime for new residents (a temporary regime) where there is no tax due in NZ.
Tax free regime for new residents
K.
Oct 15th 2006, 11:59 pm
#25
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kt0157
Don't take my word for it. Read it from the Government's web site:
Tax free regime for new residents
K.
Tax free regime for new residents
K.
By the way, haven't seen you here before - where did you move from/to/how long/under what circumstances? Etc, etc ...
Oct 16th 2006, 12:06 am
#26
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Re: To Let or To Sell ... That Is The Question
Originally Posted by Am Loolah
I love you, Mr Knowledge. Thank you, will seriously probe that thought! Lots to take in at this un-earthly hour, when been on the grape juice!!
By the way, haven't seen you here before - where did you move from/to/how long/under what circumstances? Etc, etc ...
By the way, haven't seen you here before - where did you move from/to/how long/under what circumstances? Etc, etc ...
I had an application in and it took two-and-a-half years to get to the medical request stage. I just came back from an extensive fact finding trip to Canada (3 months living in Montreal and BC) and I discovered that I didn't like Canada very much. Lots of money (and time) down the drain. Don't want to repeat for NZ.
Having said that, I have been in NZ for four months in total (3 months on the South Island in early 2005). So I do know a bit about life there (e.g. Paul "Cheeky Darkie" Holmes is an idiot). Still think I'll spend some research time before going, though. Once bitten, twice shy.
K.
Oct 16th 2006, 12:16 am
#27
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kt0157
Income from foreign investments.
Things like bank interest in UK banks, or rental income, or dividends from shares, or royalties from book sales, that kind of thing.
K.
Things like bank interest in UK banks, or rental income, or dividends from shares, or royalties from book sales, that kind of thing.
K.
Oct 16th 2006, 12:20 am
#28
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kwprwn
does that mean I will have to pay tax on profit made from a uk house sale or will i have already done that in the uk
K.
*If you sell more than 3 years after moving out of your house things are more complex.
Oct 16th 2006, 12:35 am
#29
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Re: To Let or To Sell ... That Is The Question
Originally Posted by kt0157
That's a capital gain. You (generally speaking) don't pay capital gains tax on your residence in the UK anyway*. And you don't (generally speaking) pay capital gains tax at all in NZ.
K.
*If you sell more than 3 years after moving out of your house things are more complex.
K.
*If you sell more than 3 years after moving out of your house things are more complex.
was feeling totally thick on that
Oct 16th 2006, 5:05 am
#30
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Re: To Let or To Sell ... That Is The Question
Originally Posted by Am Loolah
I am a letting agent here, but legally, for whatever reasons the law comes down on the side of the non-paying rent tenant!!! So I would give it to my bosses who I do believe would treat me well, even when I've upset them by leaving!!
I think we try to sell, failing that actually happening before our timescale we keep it on the market when we've gone and to be honest it may have more chance of selling when we don't all live here!! It should sell ok when it's been re-decorated as is lovely house, in lovely setting, so fingers crossed.
I think we try to sell, failing that actually happening before our timescale we keep it on the market when we've gone and to be honest it may have more chance of selling when we don't all live here!! It should sell ok when it's been re-decorated as is lovely house, in lovely setting, so fingers crossed.
As someone else has pointed out, properties do sell during the winter months - the critical thing will be price - everything sells at the right price - price it competitively and it will sell - many vendors find it difficult to "price competitively" but the thought of being able to get on with life and go forward is the incentive.
