I’m Moving Abroad – What Should I Do with My House?

Whether you’ve been given an amazing job offer or plan to retire somewhere sunny, moving abroad is a dream for many people. However, there’s a lot to sort out before you board the plane to your new home, and one thing that homeowners will need to think about is what to do with your house. Some people will want to sell their house and use the money, while others might be reluctant to take the plunge, so it’s important to think about your options.

Selling your home the traditional way

Many people choose to sell their home via an estate agent, which is fine if you have plenty of time to do so. The average time to sell a house in the UK can be about 6 weeks, but traditional conveyancing can take another three months, so it might be worth looking at options for selling your house quickly if you need to move sooner than that. Selling your home in the UK before you move can have advantages such as:

• Avoiding capital gains tax if it’s your only home
• Avoiding council tax, which can be imposed on empty properties
• You can raise money to buy a property abroad or fund your move
• No need to worry about maintenance on a property at home

The main disadvantage with this method is that it can take a long time to sell in certain areas, and if a job opportunity has come up, you’ll need to make a quick move, so may need to look at faster options.

Renting out your home

If you want to try living abroad for the short-term, or have a job offer for a year or two, then you might be thinking about renting out your home. If you’re not in the country, you will probably need to use a letting agent, who’ll charge a percentage, and will need to pay tax on your rental profits. Unfortunately, some mortgages also forbid renting out your home, so you may want to look at selling your house for cash or other options instead. If you choose to rent out your home, you may need to do renovation work and get checks such as gas safety certificates, which can all cost money.

Sell your home quickly

One of the most convenient options for those who are moving abroad can be to use a home buying service. Offering a 7-day house sale, this can be ideal for those who often have to move at short notice, or simply don’t have the time to wait for a buyer to come along. There’s no need to spend time renovating your home, and you can get on a plane knowing that there’s nothing to worry about back home.

If you’re trying to sell your home quickly, no matter what your situation, UK Homebuyers can give you a quick offer and fast sale. Simply call the team on 0800 051 7645, our 24/7 customer service line, or fill in our online contact form and we’ll get back to you.