chocolate cake

Indeed you can't argue with his basic point, everything has it's price. House prices have fallen, and no doubt have further to fall yet before they get to realistically historical affordable level.

The one danger with renting the house, is after a period it will begin to be partially liable to capital gains tax if is not your own home and is rented out. Probably not an issue for someone who has held a house for only a few years but say 5 years and more it could become an issue when timing the sale.

The gain, sale price to purchase price, would be apportioned over the time you have held the house, with the time it was your main home exempt plus a period after (can't recall what that is).

danjones1

Its part of the life cycle of the housing market. First denial, then despair and then finally accepting the loss. We are currently still in denial in the UK.

However unless your mortgage is worth more than your house then why not let it go cheaper to ensure you get a sale. Someone else will also benefit from bagging a 'bargain' which can't be a bad thing.

Everyone is a winner. OP gets to move on with their life and a new family gets a dream house at a fair price.

Am Loolah

I see and get your point Dan, but the difference being when a family is emmigrating every penny counts towards funding the move. The figures just may not stack up if they let it go cheaper. And as depressing as that may be - it could well put plans on hold until prices rise again.

danjones1

The point is that no one is going to emigrate if they can't sell their house, so the argument for 'every penny counts' is meaningless unless they secure a sale.

I do sympathise with people trying to sell at the moment and I also understand why they want to make their new life downunder as comfortable as possible but I also sympathise with 1000s of families in the UK who missed the property boat and are now confined to renting because sellers will only sell at a big profit, and have become greedy in many cases.

Housing should not be an asset in the same way a fine art, gold, is etc because at the end of the day it is just somewhere to live and everyone deserves a fair go at that.

MnB

lots of people have rented their houses and emigrated so your statement is confusing! and believe me every penny does count, house sale or not!!

Generalisations seem to become you! For every buyer that missed the boat there is a seller who wanted their property to achieve its value at the time.

Owning your own home is an asset when you have worked hard to achieve the puchase and security, it is probably the biggest purchase some of us will ever make.

When you sold your property did you offer it to the person in most need or sell it to the person who could afford it? guessing there would be a 'slight difference!

BEVS

That is your view and you are entitled to it but let us make a few things quite clear .

I will not have you state one more time that those seeking to sell their hard earned possessions are 'greedy' in some way .It may be your personal bug bear for some reason but get over it.

I mean that. Get over it.

When emigrating to somewhere as far flung as New Zealand every blumming penny does count . It doesn't count so one can be comfortable . It counts so a new life is actually feasable & realistic. You don't just give away your hard earned psssessions unless you are minted. .

Yes , there are a few cashed up migrants out there with boats, big toys, hols and goodness knows what else but for your average joe soap it is about simply being able to start up again in a new country. No frills. There is nothing wrong with wanting the time , money and effort you put into your home being returned .

Your argument re fine art and gold does not hold any water because by the same token , those should also maintain their actual value at point of first sale or within the reach of the great unwashed and remain affordable to all. For some fine art that would have been worthless when the oil was first drying on the canvas and so available to all. Where would you pinpoint the gold currency? 1970, 1980 ? For that matter , how would you stand on oil barrels?

A home isn't just somewhere to live. It is where you invest your time and money. You may not feel the same way and see it as a transaction but for most all of us , it is the single most valuable thing we have ploughed all our earnings , time and effort into.
This is seen as super-annuation in New Zealand.

Further, most all of us don't sell for big profit or any profit. You may well have done, but for many families they are not looking for big profit. They are simply looking to sell and not at a loss.

I know several young people in the UK who have bought their first property. They did what I did. They saved & then went for something within their reach and are now working for it , like me.

For the 2nd & last time, I am going to ask you to moderate your tone of posts. Calling people greedy when you do not know their circumstances is not on.

To make sure this is clear ,your sweeping generalisations can cause offence and upset. Please think about this.

MnB

thanks Bev's! just what I was trying to say!

BEVS

Thank our obviously enormous and greedy amount of equity, that we need to splash on a comfortable ex-pat life, for that. I am all out of puff !

Now then. Work for me and him tomorrow. Mortgage to pay. No hols in 5 yrs . No frills and fancies. Cat vet bill to pay and no money for that. Oh the comfort

I just re-read this. You don't is the answer. Too slippery and they roll from underneath your feet.

MnB

I just re-read this. You don't is the answer. Too slippery and the roll from underneath your feet.[/QUOTE]


Yeah the things we do to keep our comforts! Off to work late shift now, sleep well!

scrubbedexpat094

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