Keeping the british home

[wendy bird]

Hi.
I have had a lovely easter weekend and made more happier by my boyfriend agreeing for us to come over in five years!!! I know its a long way off but we want to wait for his daughter to be old enough to make her own decision in coming with us as she lives with her mum.

So i am a happy bunny!!!

Any way my question is , is it a good idea to keep the home in england or sell up? My son who will be nearly 20 when we will eventually move, says hes not that keen to come so wehave thought of the possiblility of him staying here and paying us rent, and then us purchasing a home in NZ. Are there any tax type things we have to be aware of if we keep it?

[topcat83]

Originally Posted by wendy bird

Hi.
I have had a lovely easter weekend and made more happier by my boyfriend agreeing for us to come over in five years!!! I know its a long way off but we want to wait for his daughter to be old enough to make her own decision in coming with us as she lives with her mum.

So i am a happy bunny!!!

Any way my question is , is it a good idea to keep the home in england or sell up? My son who will be nearly 20 when we will eventually move, says hes not that keen to come so wehave thought of the possiblility of him staying here and paying us rent, and then us purchasing a home in NZ. Are there any tax type things we have to be aware of if we keep it?

Hi there. Good news - it's great to have a plan, isn't it?

Just be a bit aware that the 'rules' on who they choose can change in 5 years. At the moment you can emigrate with the principlal applicant up to 55 years of age - but the points you can claim goes down with age too.

Another consideration - if you apply while all your children are minirs (or at least students) you can add them to your application. This can make a huge difference to them if they decide they do want to emigrate at a later date. It means they don't have to apply in their own right. In my case, both my sons have residency although the eldest has only ever been out on holiday.

On the house front - it's really swings and roundabouts. It will depend on the housing market and exchange rate at the time. But if it's your own son paying you rent then it might make a difference on the tax front. It's worth speaking to a financial adviser out here.

And it took me 30 years to get out here (including having to get a degree) but I'm so glad I did!

[wendy bird]

Thanks topcat for your reply. Yes i have seen that your points will go down a little with age. In our time frame i will be 39 and my partner will be 37. My youngest will be 9 and stepdaughter will be 16 she lives with her mum, so he wants to wait until she can make up her own mind, im sure she will grab at our hands to come too, my son on the other hand will be 19 and at the moment he doesnt want to leave his friends, but thats a typical 14 year old!!! Im sure if he comes out with us initially he will be persuaded!