What to do with your home in Canberra when moving overseas

What to do with your home in Canberra when moving overseas

There are many reasons why Canberrans may decide to move overseas for a period. These include government postings, travel, marriage, family, study, work, travel—or just a change of scenery.

If you own a home in Canberra, there are a range of options you to consider undertaking if you are moving overseas from Australia.

Maloney's Property is an experienced team of experts in selling and managing properties in Canberra. Marion Nielson is one of Maloney's Property's most experienced property managers. She is highly experienced in advising Canberra clients who intend to travel overseas (especially DFAT clients) on what to do with their homes.

Marion commenced her real estate journey in 1981 and has stayed true to the industry for over 40 years.

"Just as there are many reasons why Canberrans travel overseas for extended periods of time, there are also different options to deal with their homes while they are away," Marion advised.

Marion says that the main three options for homeowners travelling or moving or overseas are:

  1. Selling property
  2. Long term rental
  3. Short term rental

"There are also challenges that homeowners face when moving overseas, so it pays to plan ahead and enlist the support of a professional from Maloney's Property."

Selling the Property

Marion says that selling the family home before extended travel or a posting is an attractive option for some property owners. Benefits include:

  1. Paying out a mortgage,
  2. Providing additional money for holidays and entertainment, and
  3. If your timing and advice are spot on, you could be in an excellent position to re-enter the market when you return.

Long Term Rental

Many clients decide that the best option is to let their property on a long rental while they are away. Not being in the country or living in another Australian city will mean looking after your rental property yourself is not possible.

There are many benefits of entrusting your property to Maloney's Property, as we ensure the following:

  1. The right tenant is found,
  2. Your rent is paid,
  3. Your property is regularly inspected, and
  4. The maintenance is attended to.

Short term rental

If you own an apartment, townhouse, or a house in a central or sought-after Canberra location, making it available as a short-term rental could be an excellent option for you while you are away. A short-term rental can give you a premium return and attract business and executive clients who may better look after your property.

The main benefits of partnering with a professional short-term property management team like Accommodate Canberra include:

  1. Professional marketing to the right audience,
  2. Access to professional, reliable, and affordable cleaning services,
  3. Regular inspection of your property, and 
  4. Attendance to maintenance.

Marion said there are some things to be aware of when deciding to keep your home and travel or live overseas for an extended period.

Insurance

Your home insurance may only cover you if something happens and your home has been occupied for several days.

Storage of Furniture and Personal Items

If you decide to rent your property, you must determine whether to rent it fully furnished—do you want people sitting on your lounge and sleeping in your bed? Either way, you must pack and store your items, including clothes, entertainment, crockery, classes, sports equipment—potentially all your furniture. The costs of packing and storage—or purchase of rental furniture and other collateral must be considered.

Safety Issues

Having people coming and going from your property while you are away may deter would-be burglars from breaking into your home.

You can also, through home automation, control things such as lighting and curtains to give the appearance that someone is living on the property.

But something else can replace people on the property, cars in the driveway and bins out on bin night.

As a homeowner in Canberra, there are many things to consider, so why not contact Marion Nielsen from Maloney's Property and see which option will suit you best.

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