Sell house and rent for a period?

G

Guzzyhf

Registered User
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Myself and DH are thinking of selling our house, but then renting for 1-2 years before buying a property.
Does anyone know of any financial pitfalls in this approach (tax etc?)?
I am unsure if we will be liable for CGT?
Thanks
 
Well if it was your principle place of residence you wont be liable for CGT. The only tax implication I can think of is that you will not be a first time buyer when you buy again
 
Why exactly are you considering selling, renting and then buying again?

Two possible pitfalls...

Banking on house price deflation but prices remaining steady or else inflating in the meantime making it hard for you to get back into a house ownership situation.

Spending/blowing your lump sum or investing it and getting poor (e.g. lower than inflation) returns in the meantime meaning that the real value is eroded.
 
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