Money, renting, selling up and other dilemmas

[Guest jlr248]

After over 2 years of waiting we got our visa granted in February and immediately put our house up for sale, and still not sold. Wonder how many people are in the same boat as us. Have thought about plan B - renting out our house but as all our money is tied up in it was wondering how much extra we would need to borrow on our mortgage to fund starting our new life on Oz. We are a family of 4, i cant remember how much we needed to have (seem to remember £20 K) can anyone advise. Obviously we will have to rent until we sell the house (could be a year or 2) and i have noticed that in Oz rentals seem to be getting more expensive while house prices appear to be falling a bit, is this a fair assessment of what is going on in Adelaide? So many decisions...we just want to get there but i am worried that we really should sell up before we leave UK...would love to hear any experiences or advice off anyone who has been through or is going through the same situation.

[Guest The Reeds]

We are going through exactly the same as you but our house has only been up for sale since April. We have decided to rent the house and go anyway. Life's too short and we are itching to get there and start our new lives.

[Guest THE HAMLYNS BIG ADVENTURE]

Hi, we are the same, i bet there are loads of us! We got visas in Feb, expected to wait another year at least so it caught us on the hop and weren't prepared, had the house on market since end of march and only 4 viewings, no offers, so now crunch time, would cost thousands for a validation trip anyway so we are just going to get together as much money as poss and go for it, like you guys we are just itching to get there and get on with our life, we feel if we keep waiting we might not make it at all!! now hoping to go in sep/oct, just in time for another summer!!

[Horsella]

Hi there,

 

We are also in the same boat. We've had the house up for sale since March, but we are going to try and hang in there for another couple of months. In all honesty, we are also pondering renting the house out for a while as the exchange rate is so poor - there seems little urgency to bring all our money across straight away.

 

Good luck - fingers and toes crossed for you

[deli&paul]

Hi all,

We too got our visa in Feb after waiting 2 years. Put the house on the market in March and just 1 viewing! We have just reduced it in the hope that may bring some more through the door. Our original plan was to get there Sept, now we are hoping for Oct/Nov... may have to consider renting, but dont know if without the house sale we will have enough money!! Decisions, decisions eh?

We have wanted this for so long, we feel like we are just waiting for our new lives to start and just want to be there getting on with it. Really fed up living in limbo land.

 

Good luck to you all and we will all make our dreams come true as we have got this far!

x

[Guest jlr248]

Looks like there will be a lot of us renting out here and renting in Oz. Guess all us poms desperate to leave this sorry country are causing the rise in rental prices and lack of availability in Oz. Swings and roundabouts my friends...just sick of the bloody roundabouts! Good luck to all - we will be there one day. (possibly all at the same time according to these posts). September to November, just in time for summer and to get the kids in school and some friends made before the big summer break. Would love to hear from anyone who has took the plunge, has rented their house in UK and and is now in Oz renting (pros, cons and possible pitfalls would really be appreciated). Thanks in anticipation

[Guest martin495]

Hi seems like youve got it pretty much sussed.

We managed to rent ours out and we are constantly reviewing the options.

We managed to borrow on the house and moved anyway. We are currently renting in adelaide.

Its not that bad unless youre planning to move to the CBD area and suburbs.

 

Martin

[Guest jlr248]

Have never really planned on living in CBD however over the last 2 years our search has moved from West Beach to Hallet Cove area and now we are looking even further south / inland of that. All down to spiralling house prices, getting out priced in each suburb while property market not so quietly stagnates in UK. Good to hear you are managing Ok, I keep saying to myself "If its meant to be...." Guess we just have to go for it.

[Guest martin495]

Have never really planned on living in CBD however over the last 2 years our search has moved from West Beach to Hallet Cove area and now we are looking even further south / inland of that. All down to spiralling house prices, getting out priced in each suburb while property market not so quietly stagnates in UK. Good to hear you are managing Ok, I keep saying to myself "If its meant to be...." Guess we just have to go for it.

 

 

Now or never, Its the dilemma everyone faces, Dont fear the unknown.

Good luck!!

Martin;)