House Buying / Selling Thread

[117 M34]

I finally moved in on Friday.
Solicitors are fucking useless.

 

[Banshee]

Need advice blues! Long story rented my house out when I moved to the US as at the time market was on it arse. Had good renters in for past 5 yrs and last year made a stupidly low offer. I declined, they signed a new 2yr lease in Feb and I put it out of my mind. Anyhow, they've come back wanting to know what I'll accept. My agent says the market is on the up and should hold on a little longer. Is now a good time to sell ?

 

[Gareth Barry Conlon]

Need advice blues! Long story rented my house out when I moved to the US as at the time market was on it arse. Had good renters in for past 5 yrs and last year made a stupidly low offer. I declined, they signed a new 2yr lease in Feb and I put it out of my mind. Anyhow, they've come back wanting to know what I'll accept. My agent says the market is on the up and should hold on a little longer. Is now a good time to sell ?

I vote sell. Lots of uncertainty going forward with brexit still unresolved and political turmoil.
The market has been very resilient up until now and might continue to be but do you really want to be a long distance landlord or do you want a simpler life.

 

[denislawsbackheel]

Need advice blues! Long story rented my house out when I moved to the US as at the time market was on it arse. Had good renters in for past 5 yrs and last year made a stupidly low offer. I declined, they signed a new 2yr lease in Feb and I put it out of my mind. Anyhow, they've come back wanting to know what I'll accept. My agent says the market is on the up and should hold on a little longer. Is now a good time to sell ?

You’ll get hammered for capital gains tax when you sell.

 

[Southbanken]

I live down south but from my view, your Agent is a mug if he thinks the market is on the up. House prices have been stagnant for 12 months or so and are starting to retract. I would sell now if i were you.

 

[Gareth Barry Conlon]

You’ll get hammered for capital gains tax when you sell.

Not if you have lived in it. There is an exclusion for property you have lived in.

 

[Gareth Barry Conlon]

I live down south but from my view, your Agent is a mug if he thinks the market is on the up. House prices have been stagnant for 12 months or so and are starting to retract. I would sell now if i were you.

Still strong in some parts here why i suggested sell. Affordability is a massive issue in London, prices are already way beyond most peoples ability to get a mortgage. Not so much a problem outside the southeast.

 

[Armchair Supporter]

I vote sell. Lots of uncertainty going forward with brexit still unresolved and political turmoil.
The market has been very resilient up until now and might continue to be but do you really want to be a long distance landlord or do you want a simpler life.

The Global economy peaked in 2007:

 

[Wafty Cranker]

Not if you have lived in it. There is an exclusion for property you have lived in.

If they've not lived in it for 5 years then I don't think they'll get the full private residence relief, only part of it, but I'm not up to date with this stuff.

If they're a non resident they might be able to get round some of the gain that way, but I know they changed the law/closed the loophole a few years ago.

It's not very straight forward, but it should be considered before you make a decision.

 

[Djibrilshairdo]

You get an individual capital gains allowance of £12k per annum. If house is in joint names, double it to £24k. You can discount any year if you’ve occupied as a primary residence, so if needed, prove you’ve moved in it for a few months after the tenant has gone by having you’re mail redirected and the utilities back in your name.