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Living overseas

Whether you're considering emigrating or an expat abroad, you'll find likeminds on this forum.

Internationally mobile types - did you sell your house?

32 replies

schmalex · 15/11/2015 13:53

My DH has been encouraged to apply for a promotion abroad. Whether or not he gets this particular role, it's looking likely that we will be living abroad somewhere for the next 10ish years and we may move about a fair bit (think 2-3 years in one particular place). We will get relocation assistance, etc.
There must be a fair few people in this situation. What did you do with your house. Do you keep your house in the UK and let it out? Or sell it and invest the money in something else until you come back?
It feels like such a long time horizon that I'm not sure we would still want to live in our current house if we came back in 10 years time.
I'm just interested in what you all do.

OP posts:
lborgia · 08/12/2015 13:36

We held on to our house and are only now selling after 8 years. We will buy something else cheaper and bring some of the profit here to pay some of the mortgage.

We could never have saved this much, and even with cgt etc it still was more than worth it.

You need to work out if the rent will cover mortgage, letting fees, maybe having a month of no rent sometimes. Go through it carefully, but if you take the long view (7-10 years) it will always be worth it.

Kuriusoranj · 10/12/2015 05:29

Sold it. We have no plan to move back to the UK - husband is from another country which we plan to go to next. We needed the money and could not afford to cover the mortgage / tax shortfall for the time we were here anyway. I don't regret it, although we loved the house. I can't imagine the headaches of trying to manage two locations.

Namechangenell · 10/12/2015 19:21

We kept it and rented it out. It's since pretty much doubled in price over the last three/four years (London) so was def a good move.

CherryPits · 16/12/2015 01:41

We sold our house. We don't "plan" to return to the UK but it could happen I suppose. I think we realized that having a rental income in the UK complicated things because we wanted to relinquish our UK tax obligations as we're paying tax in the USA. If you have rent I think you end up with a quite complicated tax situation, depending on where you live. Might be worth investigating, anyway?

5678group · 18/12/2015 20:07

Kept in and rented out. No longer plan to live in it when we return.
I'd have sold it if we were properly emigrating but we'll be back within ten years and want to stay in the loop.

smellsofelderberries · 23/12/2015 18:53

DH and I are moving to Australia next year and will keep and rent out our London flat. We bought it because of its investment potential (and we love living there), and so far it's ticking along nicely and should be able to pay for itself soon.

We find the idea of getting off the property ladder entirely too risky at this point in our lives. We're also hoping that in a few years we might be able to release some equity to buy another place in Australia.

I think at the end of the day, if you can afford to keep it on, do so, you can always get rid of it later if needs be but better to keep your options open.

Aussie13 · 26/12/2015 17:07

We sold ,only to find our no pr had to buy again in the uk , just as well there are 131 different mortgages available in England , but 0 in Scotland unless with offshore banks , rent the house out till you want to buy , but get some tax advice

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