Sell up in UK or rent out your house.

Do you have a query about moving to Andalucia and buying property in Andalucia. Find out by posting questions and reading about other peoples experiences.
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fyfin
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Sell up in UK or rent out your house.

Postby fyfin » Tue Apr 24, 2012 12:42 pm

We have just spent 12 weeks in our apartment as I have now retired (at 60) and have really enjoyed it and can see no reason not to come out permanently. We don't have the usual family issues as our grandchildren are 16 and 14 (we started early) so the decision to move here is almost made.

However, we have a house in UK and are trying to decide whether to sell up completely and become resident here with no UK property or to rent our house out in UK. I know it's a matter of opinion but I value other people's opinions and perhaps advice.
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Julie
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Re: Sell up in UK or rent out your house.

Postby Julie » Tue Apr 24, 2012 2:04 pm

I would suggest you keep the uk property, it will bring in regular income and will always be there to return to in need be in the future, why burn your bridges if you don't need to, selling and putting the money in the bank is a waste of time no interest there :(
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Re: Sell up in UK or rent out your house.

Postby Lavanda » Tue Apr 24, 2012 2:51 pm

Think about starting by letting your house on a 6-month short-hold lease and see how it goes. If it's successful you can go for another 6 months, etc. This gives you a safety net for your first year in Spain in case of unexpected snags which you won't know about now as they'll be unexpected. Think about selling after that. Property prices might have gone up by then! Check the CGT issues in both the UK and/or Spain.

Something to consider: tax on the income from letting your house plus let-sure insurance plus any management fees plus picky tenants could cancel out half your letting income. I sold my flat in the UK in the end as I couldn't be doing with the aggravation involved in letting it BUT if you have perfect tenants and don't need to sell wait a bit ... and see ...

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Re: Sell up in UK or rent out your house.

Postby swerve » Tue Apr 24, 2012 3:32 pm

IDE certainly keep your uk address if you can afford it. Just in case you need to come back to the uk to use the NHS. After all you have payed into it so why not. I know Spanish hospitals are good but some people prefer the uk system.
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katy
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Re: Sell up in UK or rent out your house.

Postby katy » Tue Apr 24, 2012 4:16 pm

keep the UK house and see how things pan out. Don't know what your area is like but an average 3 bed property rents for £1700pm. around here so a nice little income.

Things are unstable in all Europe right now, not the time to burn bridges. Good point about the NHS, things are changing quickly in Spain. Waiting time for some procedures have have doubled at the CDS hospital.

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Re: Sell up in UK or rent out your house.

Postby janda_grant2 » Tue Apr 24, 2012 6:04 pm

I agree - keep the house if you can afford to - sometimes getting back on the property ladder is MUCH harder than getting off.
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Re: Sell up in UK or rent out your house.

Postby Campo Steve » Tue Apr 24, 2012 7:51 pm

swerve wrote:IDE certainly keep your uk address if you can afford it. Just in case you need to come back to the uk to use the NHS. After all you have payed into it so why not. I know Spanish hospitals are good but some people prefer the uk system.
Just remember that you will not, technically, be able to use the NHS once you are no longer resident in UK. Many people do it by not telling the UK they have left, but that is against the rules. If one of you is getting a UK state pension then you can get an EHIC card for emergency cover there. Just because you have paid in all your working life doesn't entitle you to use the NHS ad infinitum. Something to remember when people give you advice.
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Re: Sell up in UK or rent out your house.

Postby Lavanda » Tue Apr 24, 2012 8:09 pm

Agreed. Remember you might need advice on the advice as there's a lot of misinformation out there. Don't just believe what everyone writes -- me included. :lol:

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Re: Sell up in UK or rent out your house.

Postby frank » Tue Apr 24, 2012 8:41 pm

[quote="Campo Steve"]. Just because you have paid in all your working life doesn't entitle you to use the NHS ad infinitum. Something to remember when people give you advice.[/quote]
Agree, but unfortunately there are plenty of people about that have no qualms about fiddling the system. Not really sure why people think because they have paid in for x number of years, that entitles them to claim for x more years without paying anything into the system. Think I'll try that logic on my house/car insurance, I've been paying that for years. The Spanish system suffers from similar abuse, hence a whole raft of measures introduced recently to try and prevent all the fraud.
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Re: Sell up in UK or rent out your house.

Postby markwilding » Tue Apr 24, 2012 10:23 pm

Rent it out

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Re: Sell up in UK or rent out your house.

Postby scotty » Wed Apr 25, 2012 10:14 pm

My reply to you is not based on financial matters. My mother (age 92) always said "Never give up the key to your front door". By this she means you have to keep your independence. In the long term when one of you get ill or die then the other partner may / will want to come back into the family network. In my moms case this was three years ago, after dad died she returned here to Ireland and lives in her own little house. On a funny note she says that she came back here because she cant open a bottle of wine on her own & needs me to use the corkscrew for her everyday :clap: . Despite what you feel now, in the longer term the family network gets important again.

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Re: Sell up in UK or rent out your house.

Postby Lavanda » Thu Apr 26, 2012 7:31 am

Good point. Later, again, you may have the problem of deciding whether or not to sell your property in Spain if you DO move back to the UK, or rent it out, or keep it for the holidays, etc. etc. etc. I think it was Karl Marx who said that property was theft but in reality property is pain — a large one — in the butt. :lol:

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Re: Sell up in UK or rent out your house.

Postby MarkF » Thu Apr 26, 2012 8:27 am

Keep the UK house.
katy wrote:keep the UK house and see how things pan out. Don't know what your area is like but an average 3 bed property rents for £1700pm. around here so a nice little income.
My mum would get that in leafy Barnet but rents out her 4 bed detached for £850, that is in a nice area, equidistant to Ilkley and Harrogate and popular with Leeds & York commuters.

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Re: Sell up in UK or rent out your house.

Postby hillybilly » Thu Apr 26, 2012 8:39 am

What everyone else said :thumbup:

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Re: Sell up in UK or rent out your house.

Postby swerve » Thu Apr 26, 2012 9:36 am

Campo Steve wrote:
swerve wrote:IDE certainly keep your uk address if you can afford it. Just in case you need to come back to the uk to use the NHS. After all you have payed into it so why not. I know Spanish hospitals are good but some people prefer the uk system.
Just remember that you will not, technically, be able to use the NHS once you are no longer resident in UK. Many people do it by not telling the UK they have left, but that is against the rules. If one of you is getting a UK state pension then you can get an EHIC card for emergency cover there. Just because you have paid in all your working life doesn't entitle you to use the NHS ad infinitum. Something to remember when people give you advice.
If they rent there house out and don't become residents in Spain IE keep coming back to the uk every couple of months to see family. I can't see how there will be a problem. But I'm sure the residents sitting on there high horses will tell me different. Please comment 
It always seems imposible until its done. Nelson Mandela

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Re: Sell up in UK or rent out your house.

Postby gerryh » Thu Apr 26, 2012 9:42 am

swerve wrote:
If they rent there house out and don't become residents in Spain IE keep coming back to the uk every couple of months to see family. I can't see how there will be a problem. But I'm sure the residents sitting on there high horses will tell me different. Please comment 
But the OP said they where moving to Spain permanently, i.e they will have to become residents in Spain, or am I missing something?
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Re: Sell up in UK or rent out your house.

Postby swerve » Thu Apr 26, 2012 10:10 am

Yes Gerry I think you are missing something if you read there post again.


However, we have a house in UK and are trying to decide whether to sell up completely and become resident here with no UK property or to rent our house out in UK. I know it's a matter of opinion but I value other people's opinions and perhaps advice.

 
It always seems imposible until its done. Nelson Mandela

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gerryh
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Re: Sell up in UK or rent out your house.

Postby gerryh » Thu Apr 26, 2012 10:20 am

swerve wrote:Yes Gerry I think you are missing something if you read there post again.
 
I have read it again.
They said they were going to live permanently in Spain.
Doesn't make any difference if they own a property in the UK or not.
They will still have to become residents in Spain.
So what am I missing?
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Gerry
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Campo Steve
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Re: Sell up in UK or rent out your house.

Postby Campo Steve » Thu Apr 26, 2012 10:31 am

My reading too that they are moving permanently to Spain. They just asked whether to hang on to the house in UK. No mention of any visit to Uk, let alone regular ones. Indeed, they say they would rent out the house in uk if they kept it so they wouldn't have a house to go back to. Can't see what you are reading, Swerve. Are you suggesting they PRETEND they are living in their UK house full time and only pay occasional visits to Spain?
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Re: Sell up in UK or rent out your house.

Postby Acen » Thu Apr 26, 2012 10:48 am

If you want to do it then do it properly.

Cut your ties in the UK and forget about "have a home to go back to" incase it does not go according to plan.

Come over, make a new life, learn the language, make new friends etc.

If your are unsure what to do with your property then you already know the answer.

Give it 110% or forget about it, because you will need 110% to get through the first few years (ie) the paperwork.

just a thought!!!


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