Renting a house can make more sense when moving abroad
You should think twice before you sell up your property at home.
If you are heading overseas for the first time, you may think the best thing you can do is sell your home and buy a property as soon as you get to your new country, but in some cases, caution may be the sensible approach.
Moving abroad is a big decision, and if you have family members moving with you, there are a lot of different emotions to take into account. It may seem unlikely, but homesickness can be a powerful feeling, and if you have severed all your ties with the UK, you might live to regret it.
The UK rental market has become buoyant in the last few years, as mortgage lenders have made buying difficult for people who, less than a decade ago, would have had no trouble at all getting a loan to get on or climb further up the housing ladder.
So, if you are planning a move abroad, it might be worth considering renting your home in the UK for a period of time before you sell, as it will give you time to work out whether your dream move is right for you and your family.
In addition, renting can provide you with a decent ongoing income that you can use to help pay costs in your new home. For example, renting out a three-bedroom house in the UK costs an average of £741 a month, according to figures from Halifax, while buying the same house would cost £621 a month.