To sell up and move!

[Hg176]

Hi everyone

We have circa 170k GBP equity in our house and own just under half.

We could sell up and buy a 3-4 bedroom house outright in Canada with an acre of land near my partners family (not in the U.K.) for this amount. On top of this equity, we also have circa 50k GBP in savings.

Should we go for it and just move? We’ll be mortgage free in Canada but neither of us have jobs there obviously but we do have a good buffer of about 12-18 months of basic earnings! What would you do?

Is your partner canadian? Do you need to apply for visa etc?

If you are allowed to live in Canada I would go with no hesitation. Sounds like you could have a more comfortable life there as long as you would be able to find jobs there.

It’s tricky to get into Canada unless you’re being sponsored on a family visa without Canadian citizenship.
We will be retiring there, but we are dual citizens so can go back without needing visas.

Are you both allowed to move out there and work? What jobs do you do now, can you reasonably expect to find work there?

Some more research needed OP!

But assuming you can support yourselves there, I'd go in a heartbeat.

Definitely go!

Are you currently in the UK?

If you are able to relocate to Canada you have to be as sure as possible that you will be happy there and that, eventually, you'll find employment. It is a huge step to take. You say your husband's family are there but not if you have ever visited.

Your current situation with mortgage is normal for here, you're actually not in a bad position at all by UK standards.

Just be cautious and do lots of research, the grass often appears greener.

Holy hell@Hg176 sounds like you're one of the lucky ones!! I emigrated in 2008-to Australia-and (once id ditched my abusive ex who thankfully moved back to Italy)never looked back..Also mortgage free &live ocean front inSE qld..My kids were born here so its home to them-neither of them like UK as they both enjoy the weather/beach life& been back many times(but throw in side trips toAsia&Africa so kids are happy) & although i enjoy it initially the place is just so grotty,overpopulated&run down compared to when i grew up-I just feel relief when im able to get back over here-..Sell up&be mortgage free-its a great feeling.

If you can do it, do it!
Although you need to know immigration is slow right now. We’re in the country (Canada) and it’s going to take at least 18 months to get our Permanent Residency.
I’m also intrigued as to where you’re getting your 3-4 bed house with an acre for the equivalent of £170k? House prices have gone a little nuts here in the last 6 months!

Where would you be moving to in Canada? If you can buy a house plus an acre for about $350k, it sounds like you are going to be fairly rural. Just make sure that you understand what life will be like, job opportunities etc. Canada is HUGE and if you are rural you may be (literally) hours and hours from a city/hospital etc. Most large cities are fairly expensive ($350k wouldn't even buy a studio flat in the city I live in - our detached house is worth about 1.5million pounds). Canada is a fabulous place to live - we don't regret emigrating at all - just make sure you know what day to day life will be like!

One of my biggest regrets was not going to Canada when we were young and child free.
I’ve had several holidays there, across the country and love it. If you can afford it and meet the visa criteria, then go.