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It is better to buy one big house or two smaller ones?
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downsize, put the balance in the bank, and wait for the end of Q1 2007The perfect financial storm is brewing...!0
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Don't forget that with 2 houses, when you sell the non-primary residence you will be liable for CGT on any profit that you make. With one big (Primary) residence, you would not attract a CGT liability.CCStar wrote:thought of buying two properties of similar value, for variety and hopefully make some money out of it too.Philip0 -
unless he 'stages' the sale so he lives in both at the right time which would reduce if not entirely mitigate his cgt.The perfect financial storm is brewing...!0
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We are wanting to sell our house in January, so we can move in the spring.PropertyGuru wrote:downsize, put the balance in the bank, and wait for the end of Q1 2007
I am planning in living in one and my husband and son live in the other, if we get two houses. Are we still liable for CGT? I am wanting to move but they are settled up here. We all want to leave this house as it isn't right for us.
We have been looking for the right bigger 'one' property for ages and it is very difficult. It is easier to find two cheaper properties and I want to live somewhere else but my husband and son can't but we can still visit each other. Also, cheaper properties equals less stamp duty etc. I am aware of there being two sets of bills etc.
Many years ago, my husband took a job up here and we had a place down south, where I stayed with my son. I was at a point then, when I wanted to move, so gladly sold up and went up to join my husband. Also, our son was just about to start school, so thought we would relocate then.
There would be no question if he got a job in a place I wanted to live in another place down south. We would get the bigger house.
I sound like I can't settle, but in both instances I had stayed for 14 years before I was ready to relocate. Plus our son is an adult now, so following my dream.An average day in my life:hello: :eek::mad: :coffee::coffee::coffee::T
:rotfl: :rotfl: 
:eek::mad: :beer:
I am no expert in property but have lived in many types of homes, in many locations and can only talk from experience.0 -
My understanding (and I am not an expert) is that a married couple can only have one Primary residence, so you would be liable for CGT.CCStar wrote:I am planning in living in one and my husband and son live in the other, if we get two houses. Are we still liable for CGT?Philip0 -
PropertyGuru wrote:downsize, put the balance in the bank, and wait for the end of Q1 2007
Is that when you're going to post something that isn't vague?Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery0
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