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What To Do With Your Home When Moving Abroad

By admin / July 5, 2019

The opportunity to move abroad, even for a short time, is something that most people really only dream of. So, if you’re one of the lucky ones who has the chance to do this, then as fun and exciting as it can be, it’s also something that can take a lot of planning – especially if there are things you need to take care of before leaving. Of course, how you approach this also depends on where you’re moving to, and for how long.

One of the biggest things you may need to consider when moving abroad is what you’re going to do with the place you’re currently living in. And again, this isn’t going to be the same for everyone because it will depend on whether you own your place or are renting it. So, to make this a little less overwhelming, here are some ideas for what you can do with your place when moving abroad.

To be clear: it’s important to remember that not all of these will apply to you, so you should do what feels right for you, and ensure it’s in the best interests of you and your family before making any rash decisions about your property, or giving anything up.

Renting out:

If you own your place, a good option to consider is renting your house out for the duration of your time abroad. This not only takes some of the stress out of having to sell it, perhaps at short notice, but it also means that if you do ever decide to come back, then you have a place to come back to.

Renting your property out is also a good option if you’re not going to be away forever, or you currently don’t have a set date for knowing when you’ll come back.

Of course, you then need to decide if you’re going to rent your place out as furnished, or if you’re taking your furniture with you.

It’s also important to remember that when you’re renting out, you’re responsible for things like the repairs and renovation work that’s needed, such as fixing plumbing, and the concrete polishing of floors. This is something to consider because you’ll need to find a way of managing these jobs from abroad.

Selling:

You could also have a complete fresh start and put your place on the market, though this is something you should think very carefully about before making any decision.

Selling your house is only something you should think about if you know for a fact that you’re not coming back, or if you’re going to be paying for another mortgage in the new country and don’t want, or can’t realistically afford, the burden of two mortgages, which is likely to be the case.

Sub-letting:

If you rent your place, then another option to consider is sub-letting whilst away. If you are considering sub-letting, and you know roughly how long you’ll be away, then you need to make sure you get the permission from your landlord because if you don’t, you could end up in serious trouble.

To read more on topics like this, check out the lifestyle category.

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