Comments on: Buying and Selling Real Estate in the UK vs. Austin TX http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/ Austin Real Estate Blog Wed, 08 Feb 2012 19:40:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: quinn http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-4906 quinn Sun, 04 May 2008 20:14:20 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-4906 I have been living in austin for almost a year...an amazing city ...but I am thinking about moving to the uk...moving to london...I am an actor and trying to get into drama school...can anyone give me there thoughts on a comparison I have been living in austin for almost a year…an amazing city …but I am thinking about moving to the uk…moving to london…I am an actor and trying to get into drama school…can anyone give me there thoughts on a comparison

]]> By: Bruce http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-656 Bruce Thu, 17 May 2007 10:30:35 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-656 As a UK expat I just have to comment on Sina's posting. There is no subsidised housing in the way you refer, especially at what would be called middle class. There continue to be houses made available to low income and unemployed through council and charity schemes, the waiting list is long and the family needs to be in extreme financial need, usually at or below the poverty line. These properties are subsidised rentals owned by the local governing body (think county administration) or charity. Over time these properties may be made available for purchase to the sitting tenant, usually at a price below market value. This is intended to enable them access to the housing ladder. During the eighties and early nineties many councils sold a lot of their properties and the tenants did well out of this, but those that bought still needed to meet the financial scoring and credit worthiness to afford a mortgage, many could due to the initial chance the subsidised rental scheme gave them in the first place. Simon, welcome to Austin, it's a great town, completely agree with your comments about the buying/selling system in the UK. The difference of having someone looking after your interests is like night and day and greatly increases your confidence. Check out Fado's or the Ginger Man when you find yourself craving the pub :-) Cheers, Bruce As a UK expat I just have to comment on Sina’s posting. There is no subsidised housing in the way you refer, especially at what would be called middle class. There continue to be houses made available to low income and unemployed through council and charity schemes, the waiting list is long and the family needs to be in extreme financial need, usually at or below the poverty line. These properties are subsidised rentals owned by the local governing body (think county administration) or charity. Over time these properties may be made available for purchase to the sitting tenant, usually at a price below market value. This is intended to enable them access to the housing ladder. During the eighties and early nineties many councils sold a lot of their properties and the tenants did well out of this, but those that bought still needed to meet the financial scoring and credit worthiness to afford a mortgage, many could due to the initial chance the subsidised rental scheme gave them in the first place.

Simon, welcome to Austin, it’s a great town, completely agree with your comments about the buying/selling system in the UK. The difference of having someone looking after your interests is like night and day and greatly increases your confidence. Check out Fado’s or the Ginger Man when you find yourself craving the pub :-)

Cheers, Bruce

]]> By: Greg http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-654 Greg Sun, 13 May 2007 22:57:30 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-654 Dear Simon and family, Austin is indeed a wonderful place to live. Welcome. I hope you enjoy your time here. Just remember, we pay for our beautiful winters by enduring June-September. Cheers, Greg Dear Simon and family,

Austin is indeed a wonderful place to live. Welcome. I hope you enjoy your time here.

Just remember, we pay for our beautiful winters by enduring June-September.

Cheers,
Greg

]]> By: Simon http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-655 Simon Sun, 06 May 2007 21:54:07 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-655 Doug you are spot on in your comments as to the "middle class" in the UK and their propensity to move house (I should say that I am the author of the e-mail that Steve has posted herein). Sina, you make a valid point as to the affordability of homes in the UK. In many areas buying a home is beyond average income households. In terms of the healthcare, the state system; it (the NHS) waivers between first class and dreadful. Alas, your contributions to the NHS through taxes are the same whether you live near modern health facilities or a cash-strapped, waiting list ridden local health authority. The uptake of private healthcare insurance is increasing each year. The intended thrust of the e-mail is that the UK real estate system serves only to add wealth to lawyers and estate agents who add little to the transaction. We have just had a very pleasant experience buying in Austin through Steve and Sylvia's assistance which brought home how poorly the UK system serves buyers & sellers. Why are we moving to Austin? Myriad small reasons, but it just seems like a nice place to live is what it boils down to. Nothing more complicated than that. Doug you are spot on in your comments as to the “middle class” in the UK and their propensity to move house (I should say that I am the author of the e-mail that Steve has posted herein).

Sina, you make a valid point as to the affordability of homes in the UK. In many areas buying a home is beyond average income households. In terms of the healthcare, the state system; it (the NHS) waivers between first class and dreadful. Alas, your contributions to the NHS through taxes are the same whether you live near modern health facilities or a cash-strapped, waiting list ridden local health authority. The uptake of private healthcare insurance is increasing each year.

The intended thrust of the e-mail is that the UK real estate system serves only to add wealth to lawyers and estate agents who add little to the transaction. We have just had a very pleasant experience buying in Austin through Steve and Sylvia’s assistance which brought home how poorly the UK system serves buyers & sellers. Why are we moving to Austin? Myriad small reasons, but it just seems like a nice place to live is what it boils down to. Nothing more complicated than that.

]]> By: Observer http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-651 Observer Tue, 01 May 2007 21:41:15 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-651 I worked with British guy in Ottawa, Canada. He was saying that the quality of life in Canada is much better than in UK. He didn't even consider going back after our company was shut down and we were let go. His words - "my unemployment insurance here in Canada is going to be somewhat equal to my full time salary in UK if you take cost of living into consideration". We are in a high-tech field. At the same time he wasn't really happy about health care and education systems in Canada favouring UK ones. I've met quite a few UK expats in Canada especially nurses and health-care workers I worked with British guy in Ottawa, Canada. He was saying that the quality of life in Canada is much better than in UK. He didn’t even consider going back after our company was shut down and we were let go. His words – “my unemployment insurance here in Canada is going to be somewhat equal to my full time salary in UK if you take cost of living into consideration”. We are in a high-tech field. At the same time he wasn’t really happy about health care and education systems in Canada favouring UK ones.

I’ve met quite a few UK expats in Canada especially nurses and health-care workers

]]> By: Steve Crossland http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-653 Steve Crossland Tue, 01 May 2007 13:37:21 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-653 I asked the folks I helped relocate to Austin from London what their UK friends thought about the move. They indicated that their UK friends were envious of the move and wished they could come here also. I'm not sure what all of the factors are surrounding that, and it certainly can't be said that it represents the mood of all of the UK, but in general the US is seen as the place where better opportunities can be found no matter where else in the world one lives. Steve I asked the folks I helped relocate to Austin from London what their UK friends thought about the move. They indicated that their UK friends were envious of the move and wished they could come here also. I’m not sure what all of the factors are surrounding that, and it certainly can’t be said that it represents the mood of all of the UK, but in general the US is seen as the place where better opportunities can be found no matter where else in the world one lives.

Steve

]]> By: Jim Howard http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-652 Jim Howard Tue, 01 May 2007 13:11:16 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-652 As much as I enjoyed my time in the UK, and as much as I respect my British friends and colleuges, there are logical reasons why many more Brits emmigate to the US as compared to Americans emmigrating to the UK. As much as I enjoyed my time in the UK, and as much as I respect my British friends and colleuges, there are logical reasons why many more Brits emmigate to the US as compared to Americans emmigrating to the UK.

]]> By: Doug http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-650 Doug Tue, 01 May 2007 04:55:28 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-650 Sina, the British have a substantial problem with their pension system. Future retirees are in jeopardy there, as well as here. But I certainly agree with you that our system is far from ideal. Sina, the British have a substantial problem with their pension system. Future retirees are in jeopardy there, as well as here. But I certainly agree with you that our system is far from ideal.

]]> By: Sina http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-649 Sina Mon, 30 Apr 2007 16:26:17 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-649 Doug, Maybe you are right, their real estate system is not as efficient as the one run by NAR. I never disputed that. I guess I will have to go there and observe before I make my next comment on their society. I did not make any statement about how superior of UK's national health care system compare to others like Canada, Germany, or, Cuba. I was just saying, in terms of efficiency, the health care system in America is getting out of control. Nor is it in any shape and form "efficient". So which society you prefer to live in? One that you constantly worry about whether you are going to be laid off and your retirement might not have enough money to support your current lifestyle, or the other that have a obsolete real estate system and 17% sales tax? Doug,

Maybe you are right, their real estate system is not as efficient as the one run by NAR. I never disputed that. I guess I will have to go there and observe before I make my next comment on their society.

I did not make any statement about how superior of UK’s national health care system compare to others like Canada, Germany, or, Cuba. I was just saying, in terms of efficiency, the health care system in America is getting out of control. Nor is it in any shape and form “efficient”.

So which society you prefer to live in? One that you constantly worry about whether you are going to be laid off and your retirement might not have enough money to support your current lifestyle, or the other that have a obsolete real estate system and 17% sales tax?

]]> By: Doug http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-648 Doug Mon, 30 Apr 2007 05:30:38 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-648 I lived in the UK for a year and rented a house. It was a very difficult transaction and necessitated hiring an estate agent who would call all of the other estate agents in town and ask if they had a listing that came close to matching the description of the property we were looking for (size, price, location, etc.). Viewing the property always required the presence of both the property owner or manager, the listing agent, as well as me and my agent. Not only is there no MLS, there is no lock box system, either. Purchasing property is much greater in complexity. I was amazed to learn that even if your offer on a property is accepted the seller may decide to accept a greater offer anytime before closing. Sina, your guesses about the needs of people in the UK are way off. These days, their "middle class" is just as big as it is here, if not larger. They like to move just as much as we do but their antiquated system of handling real property transactions provides a serious disincentive. Also, and way off topic, while I'm not opposed to some sort of national insurance program, the UK's system is one of the worst. I lived in the UK for a year and rented a house. It was a very difficult transaction and necessitated hiring an estate agent who would call all of the other estate agents in town and ask if they had a listing that came close to matching the description of the property we were looking for (size, price, location, etc.). Viewing the property always required the presence of both the property owner or manager, the listing agent, as well as me and my agent. Not only is there no MLS, there is no lock box system, either. Purchasing property is much greater in complexity. I was amazed to learn that even if your offer on a property is accepted the seller may decide to accept a greater offer anytime before closing.

Sina, your guesses about the needs of people in the UK are way off. These days, their “middle class” is just as big as it is here, if not larger. They like to move just as much as we do but their antiquated system of handling real property transactions provides a serious disincentive. Also, and way off topic, while I’m not opposed to some sort of national insurance program, the UK’s system is one of the worst.

]]> By: Jim Howard http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-647 Jim Howard Sun, 29 Apr 2007 03:13:09 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-647 When I was in the USAF I bought and sold a home in the UK. Sylvia is very correct, things are different in the UK. Offers mean essentially nothing, either party can back out at any time. They have a word for the very common situation where a seller backs out of a deal in favor of another bidder, 'gazomping', as in "I was gazomped out of that house". Agent commissions are only 1-2%. There didn't seem to be an MLS, and most people listed their house with many agents, you'd see a dozen different for sale signs from different agents on one house. 'Solicitors', i.e. lawyers, do indeed handle the actual closing. Water is flat rate, but you pay extra for an outside hose bib (which few houses even have). British plumbing is 100 years behind that found in Texas. Still, I really enjoyed my time in the UK and would recommend that anyone who has the chance to work in UK to give it a try. When I was in the USAF I bought and sold a home in the UK. Sylvia is very correct, things are different in the UK. Offers mean essentially nothing, either party can back out at any time. They have a word for the very common situation where a seller backs out of a deal in favor of another bidder, ‘gazomping’, as in “I was gazomped out of that house”.

Agent commissions are only 1-2%. There didn’t seem to be an MLS, and most people listed their house with many agents, you’d see a dozen different for sale signs from different agents on one house.

‘Solicitors’, i.e. lawyers, do indeed handle the actual closing.

Water is flat rate, but you pay extra for an outside hose bib (which few houses even have). British plumbing is 100 years behind that found in Texas.

Still, I really enjoyed my time in the UK and would recommend that anyone who has the chance to work in UK to give it a try.

]]> By: Sina http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-646 Sina Sat, 28 Apr 2007 19:29:35 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-646 Oh, I am very interested in learning how your clients thought on the comparison of health care system between UK and US. I wonder if they are amazed that it cost something like $20,000 to just get their appendix removed where it's free in England... What about hip replacement? Oh, I am very interested in learning how your clients thought on the comparison of health care system between UK and US. I wonder if they are amazed that it cost something like $20,000 to just get their appendix removed where it’s free in England… What about hip replacement?

]]> By: Sina http://crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-645 Sina Sat, 28 Apr 2007 19:26:58 +0000 http://ben.crosslandteam.com/blog/2007/04/27/buying-and-selling-real-estate-in-the-uk-vs-austin-tx/#comment-645 Well, I don't know UK that well but my impression is that in UK people tend to move much less than we are here. We buy and sell our homes every 3-5 years. I suspect that they only buy or sell a real property every 30 years or so. On top of that, the society in England is much much more stratified than that of here. In other words, the middle class is much smaller and a good chunk of regular wage earning population (like the middle class here) are living in heavily subsidized housing (kinda like governmental homes). They don't own those homes but they can live in them as long as they want. So the overall importance of needing a very organized and efficient residential real estate transactions are relatively less than it is here. To sum it up, most of us, who make anywhere between $40,000 to $100,000 annually would not be able to purchase a home there in UK anyways. Those who can afford them, are much wealthier than the upper middle class, and they don't really care about the distinction between 1% to 6% after all. Well, I don’t know UK that well but my impression is that in UK people tend to move much less than we are here. We buy and sell our homes every 3-5 years. I suspect that they only buy or sell a real property every 30 years or so. On top of that, the society in England is much much more stratified than that of here. In other words, the middle class is much smaller and a good chunk of regular wage earning population (like the middle class here) are living in heavily subsidized housing (kinda like governmental homes). They don’t own those homes but they can live in them as long as they want. So the overall importance of needing a very organized and efficient residential real estate transactions are relatively less than it is here.

To sum it up, most of us, who make anywhere between $40,000 to $100,000 annually would not be able to purchase a home there in UK anyways. Those who can afford them, are much wealthier than the upper middle class, and they don’t really care about the distinction between 1% to 6% after all.

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