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Moving abroad for 2 years

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  • Moving abroad for 2 years

    Hi,

    I am moving abroad with my family for 2 years and have my own house in tht UK. We would probably like to buy something bigger when we return.

    Is it generally better to sell what we have now and keep the money from this for 2 years and put towards something new or keep the property and sell it when we return?

    Many thanks

  • #2
    Re: Moving abroad for 2 years

    Why not rent the house during these two years? And then you can sell it. The experts say that property prices will soar...

    Comment


    • #3
      Re: Moving abroad for 2 years

      If you rent it out you must ensure you have a reliable letting agent managing it for you otherwise your property might not be in the condition you left it if the tenants are bad ones.

      Comment


      • #4
        Re: Moving abroad for 2 years

        I would agree that letting the house might be your best option. No point in selling in what is currently a sluggish and uncertain market. It also means that when you return in two years' time, you still have a foothold in the housing market here. Good luck, whatever you decide.

        Comment


        • #5
          Re: Moving abroad for 2 years

          Thanks for the advice guys. I was thinking along the lines of having the available cash and not being in a chain might be an advantage when I come to buy again, along with having 2 years to find the right place. I can see the wisdom in what has been suggested though.

          Thanks

          Comment


          • #6
            Re: Moving abroad for 2 years

            Don't forget to get consent to let from your lender !!!
            Adam Long

            www.quickhomeseller.co.uk

            Comment


            • #7
              Re: Moving abroad for 2 years

              Depends if you will have the funds to buy that bigger house with just the funds now (plus savings in the next 2 years).

              Most are suggesting renting as a way of hedging your bets and also if you use the profits to repay your mortgage, you will also have more equity.

              Should get more return than leaving the cash in a bank... but maybe you already have enough and don't need the stress?
              Randeep Mann

              Want to Rent or Sell quickly? I can help.
              Facebook Email

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              • #8
                Re: Moving abroad for 2 years

                My wife and I have rented properties for 20 years and have only had 2 bad experiences, both of which we could have avoided if we had not become complacent in our vetting proceedure. Most people on the planet are reasonable and respond positively if treated with respect. The NUMBER ONE issue is to hire the right letting agent in the first place. In other words VET the agent. Number two :- run any proposed contract through your trusted solicitor before they start looking for any tenants. Number three:- go the extra mile and pay to have a condition report done professionally before and after a tenants stay. Number four :- Stay in contact with your agent. Finally, neither the agent nor the tenant are your 'friends'. This is business, nothing more ,nothing less.

                Comment


                • #9
                  Re: Moving abroad for 2 years

                  I suppose you still are looking for information.
                  I think that i can help you by saying that when i moved to UK I used Mitchell's of Mansfield transportation and logistics company.They were really nice to me and I was pleased whit their job. All of my belongings were moved carefully and I had nothing to complain about. They are working with whole EU and UK. For more information:search for Mitchell's of Mansfield or
                  Overnight Palletized Freight Distributor - Mitchell's of Mansfield
                  Hope I was helpful.

                  Comment


                  • #10
                    Re: Moving abroad for 2 years

                    A very dependable feature of people who live abroad is finding them huddled together in bars and restaurants, talking not just about their homelands, but about the experience of leaving. And strangely enough, these groups of ex-pats aren’t necessarily all from the same home countries, often the mere experience of trading lands and cultures is enough to link them together and build the foundations of a friendship. I knew a decent amount of ex pats — of varying lengths of stay — back in America, and it’s reassuring to see that here in Europe, the “foreigner” bars are just as prevalent and filled with the same warm, nostalgic chatter.

                    Comment


                    • #11
                      Re: Moving abroad for 2 years

                      Originally posted by tommyjm9 View Post
                      Hi,

                      I am moving abroad with my family for 2 years and have my own house in tht UK. We would probably like to buy something bigger when we return.

                      Is it generally better to sell what we have now and keep the money from this for 2 years and put towards something new or keep the property and sell it when we return?

                      Many thanks
                      Hi,

                      I would re-iterate what's been said already. renting the house and then saving the profits would be a more prudent idea, that way whilst your away the house can improve in value + you can save your rental income and put this money towards your new purchase when you return. There's the additional benefit that the housing market will be in better shape when you return.
                      Quick House Sale - Fast, easy and stress free

                      Comment


                      • #12
                        Re: Moving abroad for 2 years

                        Have you thought about a Delayed Completion, which involves finding a tenant buyer. They buy the property in x years time at a price agreed today. They move in and basically pay your mortgage while you are away. All legally binding, plus contract can be on your terms.
                        Stewart Property Buyers

                        www.stewartpropertybuyers.co.uk

                        Comment


                        • #13
                          Re: Moving abroad for 2 years

                          Hire a letting manager and rent it out. That will get you better returns as I guess instead of selling it right now, when market is soaring.
                          Guaranteed Rent Scheme |Estate agents Canary Wharf

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                          • #14
                            Re: Moving abroad for 2 years

                            I don't know if this is still relevant but...

                            Have you considered selling the property into a shared ownership scheme with a property investor?

                            This way you could retain 50% or so of the ownership of the property as an investment.
                            RealtyBase - Investment Property Portal
                            FREE Property Listings for Estate Agents / Property Developers and Private Sellers
                            http://realtybase.co.uk

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                            • #15
                              Re: Moving abroad for 2 years

                              if you are looking to buy again upon your return i would suggest that you rent the property out and 6 months before you return speak to an agent to see what the market is like and then consider selling the property. The market is not great at the moment and depending on price, area and property it can take a while to sell. In 2 years who knows what the market will be like but you may find that it has moved on in price and be better off

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