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Topic: Financial burden owning property in US?  (Read 261 times)

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Financial burden owning property in US?
« on: May 08, 2019, 06:48:32 PM »
I'm wondering if anyone could help with this?

Are there huge financial burden / something to be aware of if owning property back in the US while working in the UK? Is it even more problematic if one decides to rent out or sell property later on? And how can someone manage the property when your're not in the same country?

Does it make it more complicated when filing US taxes?
« Last Edit: May 10, 2019, 08:58:35 PM by travellerk »


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Re: Financial burden owning property in US?
« Reply #1 on: May 13, 2019, 01:37:17 AM »
We sold one house before moving. That worked out great because of how the tax year fell and we didn’t have to report the capital gains in the U.K.  However, we have a second property in the USA that we rent out. We have to report it in a self assessment annually, but it hasn’t been a big issue for us. It would be a bigger burden if we sold it now that we live in the U.K. and file on an arising basis.

We have family to help manage it. I have hired management companies in the past to do it. But, we found our family in the USA were more attentive because they also have rental property. We have had to fly back once for some urgent business once. But, everything else has been quite smooth.


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Re: Financial burden owning property in US?
« Reply #2 on: May 13, 2019, 01:39:12 AM »
Our tax burden in the USA didn’t change really.


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