Moving abroad for 2 years

[tonysellshouses]

Originally Posted by tommyjm9

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.

[DStewart]

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.

[Gillian]

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.

[RealtyBase]

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.

[jthomas]

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