Moving abroad for 2 years

[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

[Helen_M]

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

[qetta]

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.

[Jeannie D]

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.

[tommyjm9]

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

[Adam Long]

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

[Randeep]

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?

[Jamesh247]

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.