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sell or keep


alexis
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Hi Forum,

My first time requesting some onfo. Was reading about the people comming back to SA. Would you say it is advisable to sell all properties, or rent them out for a few years while finding your feet in OZ. People say you need to "clean up" have nothing to come back to. With home prices and the amount of houses on the market, It might be wise to hold on to payed up property and sell only bonded properties.

What does the forum say!

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What does the forum say!

Hi Alexis

I am only one person giving an opinion here, I am sure you will get plenty more.

But for me - We cannot afford for us NOT to sell our house.

Financially we need that income to sustain us in Oz.

If you want to rent it out, be sure to go through a letting agency that will manage the property for you, or if you do a private deal be sure to have a close friend or family member look after the tanants and property.

For me it would be a hassle... maintenance of the house, any problems etc.

But as I said = personal choice.

And i guess if you don't need the finacial back up from the proceeds of the sale in Oz.

Take care,

red

PS - In my mind i also don't want to give myself the option of coming back. For me - that's not an option.

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Hi Red,

Wish we had a house to sell the money would come in handy...

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Hi there!

To keep property that is paid up is always a good investment.

The only problem I have is that when you have a back door, are you really 100 % commited to make everything in Australia work?

Just my 2c. It is much easier to bail out if you have investment/income here than to take the heat there and make it work.

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We also needed the funds to cover our move so can't help with advice. It's a tough one, good luck with the decision!

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well, for what its worth, we're thinking of buying a property in RSA as an investment. The cost of housing here is so high, its cheaper to rent and use the remainder of the budget to buy a house in RSA and pay it off quickly.

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Hi Forum,

My first time requesting some onfo. Was reading about the people comming back to SA. Would you say it is advisable to sell all properties, or rent them out for a few years while finding your feet in OZ. People say you need to "clean up" have nothing to come back to. With home prices and the amount of houses on the market, It might be wise to hold on to payed up property and sell only bonded properties.

What does the forum say!

Hi Alexis,

Unless you're a trust fund baby,it often takes 10-20 years to buy a house but 20 seconds to sell it,so,If your house/s are paid in full,I would say hang on to them and rent them out through the best agency available.

Why lose on the exchange - what a waste.

Take your ZA pension payout and "buy back" as much Australian pension as you can in your new Australian job.

Your Australian job MUST carry you from the word go.

My family and I would rather emigrate with the shirts on our backs and dry bread in our knapsacks,because then we HAVE no option but to succeed.

If you arrive with nothing,you have nothing to lose and everything to gain,given time,sacrifice,and tears,and,at the very worst,the Oz goverment will/must carry you,at least initially till you're over the breadline.

BUT,if you arrive with something,you have that "something" that can so easily be squandered incorrectly.

Make peace with sacrificing another 15-20 years to buy an Oz property,it's just sweat equity,and we all have to sweat in any case,with the benefit being that after a few generations of sacrificing,your great grandkids and their kids thereafter might just become part of the trust fund baby club.

We do know,after the Zimbabwe example,that tenure of property in Africa is not assured,but the day will come,with a change of regime,or two regimes,or three,when those disposessed of their land,will have their original title deeds recognised again.

The wheel turns,slowly,but it does turn..........and remember, "The best time to buy property,is when there is blood on the streets"(Rothschild) ......so people,lets' buy a tobacco farm now in Zimbabwe while it still costs A$ 24.50 ! PS sell the heavily bonded ZA properties,but keep those with minimum bonds i.e. those whose rental income aptly cover the bond with ease.

No use having two usurers on your back for BIG amounts though,just have one Oz bond to which you owe a lot.

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I am moving next year and by then hopefully my house in Pmb will be paid off. It's an investment, but not an escape option to get back to if we decide to return to SA, which in our hearts of hearts we don't plan to. We have savings to set us up in Tas. and a job to pay the bills. The rent from the SA house is going straight into a fund for travel, either us to visit family every odd year in SA or to help fly family out to us for a visit. There are lots of stresses changing country but for us it's only family that is an issue. Our kids knowing thier Grandparents. So that is where the rent will go.

However as a permanent resident I will be taxed in Australia on that property and the rental income.

I guess I don't need to sell the house and so we aren't but many people need to to pay the huge relocation and set up costs in thier new country.

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