Leave dream home for dream job?(5 Posts)
JeansandJumpers Wed 19-Sep-18 14:45:05
Movablefeast Wed 19-Sep-18 14:55:52
whatshappenednow Wed 19-Sep-18 15:02:19
whatshappenednow Wed 19-Sep-18 15:07:07
JeansandJumpers Wed 19-Sep-18 16:47:25
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Hi, a couple of years ago I bought and renovated a modest cottage in an area I could afford, and am mortgage free. However, while I love my home, I hate my job. It is low paid, demanding, and not using my skills. I may be offered a dream job at the other end of the country which pays 50% more. Free accommodation is provided, though, it the job worked out I would obviously want my own 'home' in the area - at twice the price of here. What you do? Would you rent a room in your existing home so that you wouldn't have to move all our stuff/keep options open? I feel so vulnerable to give up my 'home'. If anyone has any experiences of similar, please let me know.
Can't you just rent out your current home, rather than sell up? Don't make that permanent choice until you are settled in your new job?
Rent out current home so if you change your mind (give it six months, if job is seasonal 12 months) you can move back. If you don’t want to leave your furniture etc. rent a storage space near your new place of work out of your rent profit.
Do it! You can always change your mind and you never know, there might be another gorgeous little cottage in your new area and it will be the start of your cottage empire 😀
You will be taxed on the profit of rent but you have no mortgage so it should still be worth it. Do the sums. You can offset maintenance etc against the tax.
Thanks for your replies. I don't want to rent it out in full for three reasons: 1 by the time I pay tax it would be as much as the 'rent a room scheme', 2 I don't want to have to move ALL my stuff out until I'm sure the job is going to work out (expense, logistics) and 3 I would like to come 'home' whenever I want until I am sure about the job/move. Would love to hear from someone who has done the same?!