We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Advice on buying a house we want to retire to
Middle_Sister
Posts: 575 Forumite
This year we are hoping to buy a house in a town we wish to retire to. Currently we have to stay where we are for at least another 6/7 years. Anybody have any advice on how to go about it i.e. what are the tax implications if we buy the new house and then sell our old house in 6/7 years. Would it be better to leave the new house empty or rent it out.
Should I put the new house in my husband, mine & son's names.
Should I put the new house in my husband, mine & son's names.
0
Comments
-
If you leave the property empty these days you have to pay 90% council tax on it, which can be quite expensive.You may find it's more profitable to rent it out.
Any particular reason for buying now if you don't need the house for 6/7 years? There might be better places to invest in the money over that time, and quite a few people think house prices will come down over the next few years.
Might it be better to wait and see?Trying to keep it simple...
0 -
"Might it be better to wait and see?"
Could`nt agree more with Editor.
Goodness knows where house prices will be in 7 years time.
The danger with buying at the high levels which they are at present, is if the market slips (in my opinion,it can only go down from here),so does the value of BOTH your houses.0 -
This is a particular development we're interested in and its been on/off for a couple of years. Maybe it would be a good time to negotiate?0
-
You mean it's now about to be built?Are you talking about buying off plan?Trying to keep it simple...0
-
Yes, probably buying off-plan.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.4K Mortgages, Homes & Bills
- 178.6K Life & Family
- 261.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards