Should I sell my house before I move abroad?
Answer:
I spose it all depends on how you see the housing market going in the next few years. If you see it carrying on going up it might be best to take the risk and rent it out.
If you're worried about a downturn selling might be the best option. There's a few firms out there like A Quick Sale http://www.a-quick-sale.co.uk/ who specialise in helping people emigrating sell their houses
I would keep it in the market but use a reliable agency and rent it out. They will charge you a monthly fee but will screen the renters and take care of any problems you can't do from overseas.
DEFINATLY rent it out. The person you are renting to would be the one investing in your future. You would need to employ a friend or something to be your proxy in the whole matter. But if you can work it, rent it out. That person can make your morgage payments. I hope you enjoy Australia. It is a beautiful place!
Rent it out until it gets sold for the price of which you are asking. Or close to it.
I would sell it as the UK market has just turned south in the last 6 months. If you can't sell it at a small discount then you will be forced to rent it out.
If the market was still rising, it would be best to rent it out as the increase in value every year will cover any bad tennants non payment, evictions and damage, but that is no longer the case for the next few years.
If you are going to be away for say 5 years, when you come back, your home will be worth just the same as it is today, why risk 5 years of renters damage, not paying rent ,evictions and repairs for no gain, you may even have to cover your own mortgage in full if the renters don't pay and you have to evict them which can take months if they contest it. Why have the worry and stress in your new life down under draging you down? what is a return ticket to sort out any issues with your home in the UK, it's worth a smaller sale price now whilst prices have not dropped much in most areas, in 1 years time prices may have dropped 10%, there is always a bust after a long boom and the boom in home prices has just finished.
Anoither thing to consider is the area in Australia you are moving to, is it in the middle of a boom or at the end of one? If it is at the beginning or middle, your cash would be well spent there.
Good Luck
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