UK......sell or rent ?

I’m hoping that some of the wise and trusted pinsters :bulb: could offer some advice. I would really appreciate it.

My wife and I are moving back to Ireland with 2 young kids after a stint in the UK.
It’s for family reasons and a must.

The situation is we have a house over here with let’s say 25% of the current market value in equity(subject to change of course…)
We have a bit of savings and some investments but all in sterling.

From reading posts here, it seems that renting in Ireland would be our best initial bet?

Given current market conditions, sterling etc do you think we would be better off renting out the house here and keeping the guts of our savings in sterling for the time being waiting for
a) sterling to strengthen against the Euro
b) house prices to bottom out in Ireland?

The thing is, can I be certain(ish) there won’t be any dire consequences in the next 1-2 years.

That’s what’s playing on my mind about the possiblity of selling the house here…

House prices here are starting to increase again, maybe that’s one sign of promise ?

Again, I really appreciate your help

Another new pinster,thinking of leaving UK to emigrate to Ireland requiring advice,hmmmmmmmmmmmm…

your point being?

It’s another tough one. Sterling is very low at the moment, so transferring the money out could result in a loss trying to move it back in if it rebounds. On the other hand, if sterling goes lower and inflation picks up, the value of the cash could be lost.

Are you sure that you won’t move back to the UK? This should probably inform your decision somewhat. If you think there’s a possibility, would you move back to the same place?

If your plan is to move to Ireland forever, you could sell the house and split your bets. Take half over now, keep half in sterling. This is not a gain strategy, more a risk minimisation one. If you think you might go back to the same place, keep the house, rent it out and get a good agent.

Onto buying here. For the forseeable future (about a year), I’d rent. The clouds that gathered a couple of years ago are gathering again. There’s a disturbance in the force. The hordes of Mordor are sharpening their axes… (It looks like it’ll be bad and there’s a fair chance it’ll be worse than that!).

Just seems we have had quite a lot of people like yourself asking the same question recently,to be honest I couldn’t think where to begin to advise you,not knowing your circumstances.

You might try reading “Bankrupt Britain Heading Towards Hyperinflation” thread,and the NAMA threads to numerous to mention,my own opinion is that no matter how bad Irelands prospects are regarding NAMA and the banking crisis,it pales into insignificance when compared to the imminent collapse facing the entire UK economy.National bankruptcy,massive devaluation of sterling,joining the Euro at a huge discount to its current exchange rate,soaring unemployment,social unrest,rioting in the streets,race riots,looting,the indigenous population of white British becoming a minority in their own country within a generation due to uncontrolled immigration and higher birth rates amoung immigrant communities.

Ireland will itself,I believe soon follow the model used in the UK,that of uncontrolled immigration,to stimulate further demand for housing and hence mortgages for the banks,so a case of out of the frying pan into the fire.

Have fun choosing.

There is no choice in the matter though for il capo di tutti capi.

Move here and rent, keep your savings in sterling. If it stays down save your EUR earnings and use your GBP savings to buy everything you need in the North. If it comes back change your savings to EUR. If it takes to long to come back just accept the loss and change it or move back to UK

Short and to the point, like it bilbot.

Could work too.

:laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing: :laughing:

:unamused:

I’d think that keeping the house in england and renting it out would be better but that’s only guesswork based on what I’ve read on this website

I know of so many people considering the move back to Ireland after being away for a few years.

No disrespect intended to the people facing financial difficulty due to this debaucle, I cannot begin to imagine what some people are facing. But Ireland IS looking more and more attractive to overseas buyers who were previously priced out of a former incredulously overpriced market.

Future demand…?

AND enter Nick Griffin …door right…

actually, no …best not even go there :open_mouth: :open_mouth:

was/are in a similar situation - moved back from UK end of 2007 (just 2 of us though)

on the downsides, just because it might be a potentially expensive move doesnt mean its not worth it personally. time is a valuable (and limited) resource also so you should invest it wisely imho.

that said, this country is totally and completely fubar’d :slight_smile: - if you start from there everything will be a lot easier to handle.

you should look into the tax implications of keeping / renting - please get proper advice - if you keep the property in the UK and sell later you may have a CGT liability in the UK and/or Ireland. rental income will also be taxable in both countries.

bilbots suggestions are very practical. my advice

  • consider what you’d do if it doesnt work out esp. with relation to moving back to same area / house
  • revisit this after six months in ireland
  • rent where you would like to live
  • save as much euro as possible initially (spending sterling if necessary)
  • best of luck!

Interesting observation Prof.

Ireland is looks nothing even remotely near attractive in property terms.
I have bought and sold property in the UK and was a BTL investor in London; early in, early out.
I know the UK and I know the property market here.
I’ve made money doing it so I know what I’m talking about.

So, just in case you didnt hear me the first time, Irish property is still overvalued by at least 30%.

Where is your place in the UK - roughly?

Zzzzzzzz… At ease, soldier.
Now put down the Daily Mail and step back sloooowwllly…
The indigenous population of the UK becoming a minority?
Peddle that shit somewhere else. I live here. Its a great country.

Believing that crap is like saying the troubles were a religious conflict.
Its total bullshit.

Griffin is a symptom, not the problem.
Hes a protest vote, an angry people voting for an angry person.

Look at Ireland, a docile, servile people voting for the same shit over and over again.

I know where I’d rather live.

Good article on EURGBP prospects. thisismoney.co.uk/news/artic … _page_id=2

I would have to agree with you on that one

I said it was looking MORE attractive than it was…MORE… I did not say it was looking good at the moment. I certainly agree it is 30% overvalued.
Half my extended family has moved back to Ireland in the last year or 2. My money is on returning Irish immigrants putting some stability back in the market.
Not NOW needle, but in the future. That’s my opinion.

I live in Surrey.

Thanks Bilbot, will check out that article.

needle wrote:

How very PC Needle,either you are part of the media campaign to brainwash the people or you are living in cloud cuckoo land.I suggest if you are not part of the former,you take off the blinkers and see what is going on before your eyes.The rendering of the Uk white populace to a minority is matter of mathematical certaintity at current immigration levels and birth rates.I note your location as being NW,not living in a major city then?Ever been to Oldham,Burnley,Leeds,Bradford?
I suggest you peddle your shit somewhere else.

Needle is correct. You are full of Daily Mail bullshit. I’d love to see how a 91% white population become a minority in less than five generations. Thats demographics for you. Unless you think the minorities plan to sterile the whites…

If you think the UK situation is dire at the moment then you obviously dont remember the 70’s when it was truly grim. I’ll take the current prospects over what was on offer in 1978 any day.

Brown will be kicked out, the Labour party will be decimated, and after licking its wounds it will stop ignoring the working class and start listening to them again. Once that happens BNP support will collapse and Britain will muddle through, just like it always does, until it finds a workable solution for dealing with the one unassimilated group in the country.

As for the future prospects of Ireland over the UK - I know which country is more likely to have straightened out its economy in ten years time. And its not the one that keeps reelecting FF.

As for the OP, I wish you the bets of luck. It looks like a very difficult call. The only thing I can add is that the relative strength of the euro v sterling is unlikely to change is the short to mid term. It is very much in the interest of HMG to keep sterling as weak as possible . Unless there is a serious political crisis in the eurozone that precipitates a currency crisis this is unlikely to change.

Back on topic people.

PROFESSORI, take that shit to the piston broke if you feel the need to discuss it and please don’t feel the need on my account.

I see facism, racism and a few other isms are alive and well, thank god for diversity. :angry: