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Ok, on a lighter note from my past posts, I'd like to get a consensus on an interesting opportunity that has been on the back burner.
I have the chance to work in the UK, my job is in demand there. I think it would be a great opportunity for me, I have never been to the UK and I love to travel. This would be for at least a year. Financially, it will be a bit of a challenge that while I will be making decent money based on their local wages, I will have more expenses (rent, higher taxes, etc) to consider and maybe not as much "disposable" income to travel around Europe or whatever. Ok, the other thing is I also want to buy a house. I am currently working of paying off debts so I can buy a home with little to no debt.
The issue I'm having is, 1) should I just go to the UK, have a wonderful experience or 2) buy a home first? I'm afraid I may miss tax benefits or rate decreases, etc. and when I get back, the housing market will be back to "normal" with no deals or breaks to be had??
Any thoughts?
p.s.- I considered buying a home and renting it out while I was gone, but if disaster strikes, it will be so hard to solve anything while overseas.
Wow, sounds like a once in a lifetime opportunity!
Can you retain a management company that will oversee your home for maintenance/catastrophe?? Sometimes small contracting businesses will do it...
I would do it...why buy a home if you are uncertain if you will like it? I would go, rent, see where you want to be, see if you like it and get to know the area!
hey! thanks, I thought of the property mangagement, I think that would be a good thing, I would have the added expense of that, of course in addition to rent, taxes, food, bills in the UK. I guess if the rent was covered, that would help?
and the idea of renting makes me cringe a little, almost like throwing money away, but I see what you mean by testing out the area first. I know where I want to live, it's just a matter of finding something affordable and be as close to the city as possible.
Quote:
Originally Posted by mrstewart
Wow, sounds like a once in a lifetime opportunity!
Can you retain a management company that will oversee your home for maintenance/catastrophe?? Sometimes small contracting businesses will do it...
I would do it...why buy a home if you are uncertain if you will like it? I would go, rent, see where you want to be, see if you like it and get to know the area!
How old are you? I'd pick going to the UK to work in a heartbeat! And they speak English with that lovely Brit accent! Plus it'd be so easy to visit the other European states. You only live once. Buying a house in the US can wait.
hey! thanks, I thought of the property mangagement, I think that would be a good thing, I would have the added expense of that, of course in addition to rent, taxes, food, bills in the UK. I guess if the rent was covered, that would help?
and the idea of renting makes me cringe a little, almost like throwing money away, but I see what you mean by testing out the area first. I know where I want to live, it's just a matter of finding something affordable and be as close to the city as possible.
I am not much of a renter either but I would hate for you to move over there and not be in the right place.
Will your company cover rent??? WOW! Can I come???
I'm in my 30's, and yes, the accents are utterly delicious!! I just don't want to get back a year later (if I come back ), and find that I have missed out on the current tax breaks and rate deals??
Quote:
Originally Posted by miu
How old are you? I'd pick going to the UK to work in a heartbeat! And they speak English with that lovely Brit accent! Plus it'd be so easy to visit the other European states. You only live once. Buying a house in the US can wait.
I'm in my 30's, and yes, the accents are utterly delicious!! I just don't want to get back a year later (if I come back ), and find that I have missed out on the current tax breaks and rate deals??
The economy, all it's perils, and potential opportunitities will be here when you get back...not to worry
ha! sure why not!!! Actually, though the company won't cover rent in the UK, so I would be paying it myself, and I doubt I could comfortably afford rent in the UK and a house payment in the US, if I rented it out, it would have to cover the mortgage payment, so I would only be paying rent in the UK.
Quote:
Originally Posted by mrstewart
I am not much of a renter either but I would hate for you to move over there and not be in the right place.
Will your company cover rent??? WOW! Can I come???
I think housing prices will stay low for a while. They might rise but it won't be anything like the boom from a few years ago.
I spent a semester in England as an exchange student in college. One of the best experiences of my life. I think you're very sensible for considering your possible expenses, because some things are very costly over there (gas, for instance--WAY more than here). But if you can afford it and can afford to come back if it doesn't work out, I think you should do it.
I would not buy a house now and hope to keep it rented to cover the mortgage payment, though. Too risky. You don't want to spend your emergency going-home money on busted pipes or something. And if you can't find a tenant, you're screwed. The economy is wonky right now ... even very stable renters are breaking their leases in places.
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), and find that I have missed out on the current tax breaks and rate deals??
