I'm Off!!!!!!

wuzzbert

I'm considering a career break to go on a round the world trip for a year. I own a house and was wondering what would be best:

Sell now, go round the world and buy a new house in a year (maybe hoping house prices could have fallen a bit also).

Rent it out whilst im away and come back to it.

I want to move to somewhere smaller and in a better area at some point and I have done my house up really nice (possibly too much to rent and better as a sale!!). I dont really need to release any money aqs I have saved for the trip.

What do you think I should do for the best.

beachbeth

Its spooky that you ask this question. My husband and I have sold our house and are in the process of buying another. I said to him the other night "lets not buy another house, lets go round the world instead!" We'd love to do it but I just know we would spend a lot of our £140,000 equity and when we eventually came back we would then end up in a much smaller house. Plus we have a 19 and 17 year old teenagers who are still at college/uni and so couldn't just abandon them! (Could we? )

We would love to do it and applaud anyone else that has the guts to do it. Perhaps if we were younger then we would.

Don't you think, though, it would be a worry if you were to rent out your house whilst away? You wouldn't be around to keep an eye on things. Wouldn't it be better to sell and invest your money in something secure that will earn lots of interest.

vansboy

Sell it... & do the trip like this guy did!!

http://www.youtube.com/watch?v=lwhCqXhzTeY

VB

epz_2

as you are planning on moving when you come back then the fees woulnt matter.

basicly it depends upon your local market, you will possibly be tax exempt so your equity could earn 6% plus while you are away. if it were me a would sell ranther than rent it out with the chance of someone wrecking it and i seriously doubt major price rises but it is dependant on your area.

wuzzbert

Well it seems to make sense to sell and then start afresh upon my return in my area of choice.

The only thing I'm worried about is house prices rising as they have been doing and me loosing my foot on the ladder.

A wise source once told me to get on the housing ladder as soon as you can and STAY on it. What do you people think of that?

silvercar

The risk if you get off the ladder is that you will have to settle for something smaller/ worse area on your return; the upside is you could afford more.

Personally I wouldn't take the risk, but then I do live near London and house prices have even gone up 10%+ over the last year.

wecanhelpu

wuzzbert wrote: »

.......A wise source once told me to get on the housing ladder as soon as you can and STAY on it. What do you people think of that?

I think your "wise source" probably died a virgin.

Enjoy your holiday.