Emigrating: What to do with your home
Whether it’s for a new job, retirement, or just a change of scenery, the option of emigration abroad is constantly gaining popularity. Of course, it isn’t the most straightforward of changes to make. Work permit and visa applications can be very complex, as can applying for citizenship and arranging the practical logistics of the move. Then, once all is set in motion, there’s the big question – what do you do with your old home? There are a number of options at your disposal, and all should be considered in good time before you leave. Check out the advice of property specialists A1 Homebuyers before you make your move as they weigh up the pros and cons below.
Keep your house as a holiday property
If you have the means by which to keep your home in the UK and use it as a base when you return to visit, this is certainly an option. It will save all the fuss when it comes to booking hotels, it’s likely that it’s located near to your loved ones, and it’s always nice to return to somewhere familiar. However, if a house stands empty, unheated and unventilated, issues such as damp and other structural problems may begin to affect it, causing you untold maintenance costs. You’ll also need to keep up with council tax payments, as you’ll still be charged for a second home or an empty property if you’re living abroad.
Keep your house and let it
This solves some of the problems brought about in the first point. Having people staying in your old house will prevent some of the physical problems caused by the property being unused, plus you’ll have the opportunity to earn a supplementary income as a landlord. However, issues arise when it comes to the paperwork in this scenario. There is the matter of landlord’s insurance, maintenance – the majority of which you will need to cover as the owner of the property – and any potential disputes or conversations you may need to have with your tenants. In an ideal world, your property would continue to tick over nicely without any trouble or drama. Unfortunately, that rarely happens in reality, and such problems are difficult to deal with if you’re living halfway across the world in a different timezone.
Put your house on the market
This is probably one of the more sensible approaches financially, as the monetary gain you make from the sale will likely help you a great deal in your new life, you can take the opportunity to pay off the remainder of the mortgage and start your new life afresh. The only potential issue with this approach is that if you have deadlines to meet – for example, if you’re due to start a new job abroad within the next couple of months – there is no guarantee that your property will sell in time. This can cause unnecessary stress when you should be planning the exciting adventure ahead
Approach a property buying company
Property buying firms such as A1 Homebuyers take the unnerving wait out of the equation – ensuring that your home is sold quickly and efficiently for the best possible price. The hassle and hidden pitfalls of selling on the open market can be circumvented, leaving you with more time to plan. You can rest assured of an immediate down payment as well as a confidential valuation – and the company will even pay your legal costs. To get the ball rolling, you can ask A1 Homebuyers for an instant quote today.