Emigrating would you Rent or Sell your house ...HELP? Does anyone rent there house out? - HotUKDeals
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Emigrating would you Rent or Sell your house ...HELP? Does anyone rent there house out?

lindseyanndavis Avatar
5y, 9m agoPosted 5 years, 9 months ago
Hi

Am in the process of moving down under and had a few valuations today but really dont know what to do with the housing market being rubbish at the moment.

We are hoping to move down under within the in the next yr we have £20K which we could take with us without the house sale money.

I am also wondering about renting...has anyone rented there house out and what are there thoughts on it. Dont know weather to do this until the housing market picks up and we will rent in Oz or shall we just sell.

Arhhhh HELP !!
lindseyanndavis Avatar
5y, 9m agoPosted 5 years, 9 months ago
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banned 4 Likes #1
I'd suggest rent it out in case your life in Oz doesn't work out.

Also, if you can afford it I'd suggest to keep the house as long term it will be good as a second income.

If you can't afford to keep it long term then sell when it reaches a price you are comfortable with.

goodluck with your new life abroad, hope everything works out as planned!
#2
Round here houses just aren't selling. However, rentals seem to go up one week and are rented out by the next.
#3
How much equity is in the house?
Is it paid off?
If not, then how much rent would it achieve compared to the payments?
#4
Location here?
I take it the rent money would be very appreciated if you did rent?

I would suggest a normal AST agreement and a friend/relative to give it the once over it when collecting rent if renting ofc.
#5
stewby
Round here houses just aren't selling. However, rentals seem to go up one week and are rented out by the next.


Rentals are in alot of demand at the moment.

http://www.hotukdeals.com/misc/will-rise-lunchtime-what-think/894955/#post10813238

Make of that what you will lol

Shame
You both got jobs setup out there?
#6
thesaint
How much equity is in the house?
Is it paid off?
If not, then how much rent would it achieve compared to the payments?


Also remember that the APR on any mortgage will likely rise if the house is rented out...
#7
thesaint
How much equity is in the house?Is it paid off?If not, then how much rent would it achieve compared to the payments?

We would make probably make £75K on the house, we have a morgage left of £50k over 12 yrs.

Renting we would get £550 to £595.
#8
schizoboy
Location here?I take it the rent money would be very appreciated if you did rent?I would suggest a normal AST agreement and a friend/relative to give it the once over it when collecting rent if renting ofc.
schizoboy
Location here?I take it the rent money would be very appreciated if you did rent?I would suggest a normal AST agreement and a friend/relative to give it the once over it when collecting rent if renting ofc.


Were based in Rochdale Lancs, houses arent selling brilliantly...so will probably try and get knocked down to a silly price.

The rent wouldnt make any difference will pay my morgage with probably £100 left over and i would have to pay 1% of the rental monthly amount to an agent to look after whilst am away
#9
schizoboy
stewby
Round here houses just aren't selling. However, rentals seem to go up one week and are rented out by the next.
Rentals are in alot of demand at the moment.http://www.hotukdeals.com/misc/will-rise-lunchtime-what-think/894955/#post10813238Make of that what you will lolShameYou both got jobs setup out there?


The estate agents said the house will get snapped up in rental because there in demand with people not being able to buy.

We havent got jobs my fella is a joiner so hopefully he will find work, when we are ready to go he is going to apply and seen what happened, i will have to settle one of my lads into school then not sure about the other yet.
#10
This is why I mentioned family/friends, you and tenantsST they keep an eye on it,

It's up to you really.

Are you in a HUGE rush to move?
#11
schizoboy
This is why I mentioned family/friends, you and tenantsST they keep an eye on it, It's up to you really.Are you in a HUGE rush to move?

When you get your visa which we will probably have next month you have 12 months to move over, or you have to go on a holiday to validate your visa within 12 months ...but if i validate for 4 of us just fly over and have an holiday it will be approx £4500 for flights plus accomodation this will be a large chunk out of our savings.....then to do it all again when we move over for good.

To be honest its a massive rollercoaster....very stressfull
#12
http://www.nethouseprices.com/index.php?con=Search-Sold-House-Prices

Have a gander on that I only have a dozen or so sales near me within last 3 years
1 Like #13
lindseyanndavis


We would make probably make £75K on the house, we have a morgage left of £50k over 12 yrs.

Renting we would get £550 to £595.


There's a million things to take into account, but I would look at keeping the house if it is viable financially.
Even if there is no capital gain on the property, in 12 years time(which is relatively) short, you'd have £125k to play with.
1 Like #14
I'd be tempted to ask 20%+ above the going rental rate, get someone you trust UK side to keep an eye on it, done

I'm sure there is a long list of pro's in going to Oz.
What is making you move out of UK if you don't mind?
#15
If/when we emigrate to the US we will be renting our house just in case, also its lost almost 5k since we bought it last June!
the only thing i would advice if you can rent it to someone you know and trust or with a strict letting agent and get someone you trust to do house inspections every 6 months.
My brother let his house when he emigrated and the agent was crap told us he was checking and he wasnt , when we finally managed to get them out they had caused over 2k worth of damage .
These were well to do people as he put it. high paid jobs but not monitored
1 Like #16
Plenty of well paid people, couldn't give a crap about other peoples belongings/property.
Well paid means virtually nothing.
Just ensure you have references for everything and a deposit before they move in.

I've had potential tenants scream at me over the phone for asking for work references etc.
No bad tenant wants their boss possibly made aware of their bad behavior as a tenant which i expect might breach DPA but ignorance and fear can be powerful combination :)
#17
Never underestimate the amount of damage tenants can do to your property.
If you are planning to return & want your property to look like how you left it, don't rent it out!

PS. Are your mice going with you or staying at home?

BFN,

fp.
#18
^^^^^^ They can PI*SSING stay at home....!!! Hey i havent heard from them for a week now...hope they have moved next door....or further away

Edited By: lindseyanndavis on Mar 11, 2011 10:27
#19
I'd definately rent it out if you can afford to with the market the way it is at the moment. I would go with an agent as you'll be so far away but make sure they are hot on the vetting of the applicants and on checking up on them, you may have to pay slightly more for a very good agent but its worth it if you are on the other side of the world!
Exciting times! where in Oz are you going? my husband would love to emigrate out there and his job is on both lists so we could but I'm not sure I'm ready just yet
#20
lindseyanndavis
^^^^^^ They can PI*SSING stay at home....!!! Hey i havent heard from them for a week now...hope they have moved next door....or further away

lol X)

Probably they're waiting in your luggage ready to move to Oz :D
[mod][Moderator]#21
I rent my house out at the mo, and we rent somewhere else more suitable, we've found it fine, we have gone with an agency recommended to us, ( they only deal with rentals ) we have to pay a monthly management charge of 10% + vat, and we also had to lodge a £1000 with them as a repair fund for small items, we have very nice tenants, however they have just given us 4 mths notice as they are moving out of the area, so we now have to decide whether to rent again or sell, at present I think we will rent out again and wait until the property sales market upturns.
when we originally rented we had 4 people wanting the house and we had the ultimate choice of who we allowed to proceed, not sure if that is usual or if its a first come basis normally, may be worth having a chat with a letting agent
1 Like #22
Good Luck when you get to Oz. You'll have nastier things to worry about than cute little mice ;)

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