What to do with your house is one of the first big decisions of the Big Lap, and it’s one of the hardest to reverse once you’ve committed. Sell, and you’re fully invested in the road with a healthy bank balance but no home to return to. Rent, and you’ve got income but a landlord’s responsibilities from 3,000km away. Leave it empty, and you’ve got security but a house costing you money every week it sits there.
There’s no universally right answer. The best choice depends on your financial situation, your trip length, the property market, and your appetite for risk. This guide lays out the practical realities of each option so you can make the decision that fits your circumstances, not someone else’s.
The house question is one of the biggest pre-departure decisions. Get it right and the trip is easier. Get it wrong and it follows you down the highway.
The Three Options
Every homeowner heading off on the Big Lap faces the same three choices. Here’s the quick comparison before we go into detail.
Rent it out: Generates income ($300 to $800+/week depending on location and property) that can partially or fully fund the trip. You keep the asset. But you take on landlord responsibilities, need a property manager, risk problem tenants, and can’t easily return home on short notice.
Sell it: Gives you a large cash injection to fund the trip and eliminates all ongoing property costs. Maximum freedom on the road. But you exit the property market (re-entry costs are high), lose your home base, and the decision is permanent.
Leave it empty: Your home is waiting for you exactly as you left it. Maximum security and the easiest return. But you’re paying mortgage/rates/insurance/maintenance on a property nobody is using, which can cost $500 to $2,000+ per week with no income to offset it.
Option 1: Rent It Out
This is the most popular choice for Big Lappers who own their home, and for good reason. Rental income funds the trip while you retain the asset. But it’s more work than most people expect.
Property manager: non-negotiable. You cannot manage tenants from a campsite in the Kimberley. A property manager handles tenant screening, rent collection, inspections, maintenance coordination, and legal compliance. They cost 5 to 10% of the weekly rent plus letting fees. For a $500/week rental, that’s $25 to $50/week. It’s worth every cent when you’re 2,000km away and the hot water system fails.
Prepare the property. Before tenants move in: fix anything that’s been on the “I’ll get to it” list (leaking taps, broken fence palings, dodgy power points). Do a professional clean. Consider whether to include or exclude certain items (furniture, appliances, outdoor equipment). Take detailed photos and a written condition report. The better the property’s condition at the start, the fewer disputes at the end.
Decide what to store. If you’re renting furnished, personal items need to go into storage or a family member’s garage. If unfurnished, tenants bring their own furniture but you still need to remove personal belongings, valuables, and anything you don’t want damaged. Storage costs $100 to $400/month depending on unit size and location.
Insurance. Your standard home insurance doesn’t cover a tenanted property. Switch to landlord insurance before the tenants move in. Landlord insurance covers tenant damage, loss of rent, and public liability. It typically costs $200 to $500 more per year than standard home insurance.
Tax implications. Rental income is taxable. Expenses (property management fees, insurance, maintenance, depreciation, interest on the mortgage) are deductible. Talk to your accountant before you leave; the tax position of a rental property is more complex than a primary residence, particularly around capital gains tax if you later sell.
The return problem. A standard residential lease in Australia is typically 6 or 12 months. If your trip is 12 months and your tenant has a 12-month lease, the timing works perfectly. If you want to come home early, you can’t evict the tenant before the lease ends (except in limited circumstances). Plan for this: either sign a lease that aligns with your maximum trip duration, or accept that an early return might mean staying elsewhere temporarily.
If your trip length is uncertain, consider a 6-month lease with an option to extend to 12 months. This gives you a natural break point to decide whether to continue or return. Discuss this with your property manager; it’s a common arrangement for travelling landlords.
Option 2: Sell It
Selling gives you the most freedom and the biggest financial buffer, but it’s the most permanent decision.
The financial case. Selling a $700,000 home and paying off a $300,000 mortgage leaves you with $400,000 (less selling costs of roughly $15,000 to $25,000 in agent fees, marketing, and legal costs). That’s enough to fund a comfortable 2 to 3 year Big Lap with money left over to re-enter the housing market afterward. If you’re mortgage-free, the entire sale proceeds fund the trip and your next chapter.
Capital gains tax. Your primary residence is generally exempt from capital gains tax (CGT) in Australia, provided you’ve lived in it as your main residence throughout ownership. If you rent the property first and then sell later, the CGT exemption becomes partial and more complex. If selling is even a possibility, talk to your accountant about the CGT implications before you decide to rent.
Timing the market. Nobody can time the property market perfectly, and waiting for the “right time” can delay your trip indefinitely. If you’ve decided to sell, set a realistic price based on recent comparable sales, allow 4 to 8 weeks for the sale process, and 30 to 90 days for settlement. Start 6+ months before your planned departure date.
The emotional factor. Selling a home is emotionally harder than most people expect, particularly if you’ve raised a family there or lived in it for decades. The financial logic might be clear, but the emotional weight of letting go shouldn’t be underestimated. Give yourself time to process it, and don’t rush the decision just because you’ve booked a departure date.
Re-entry costs. The risk of selling is that property prices rise while you’re away, making re-entry more expensive. In a rising market, 12 to 18 months away could mean coming home to significantly higher prices. This is a real financial risk, but it needs to be weighed against the cost of keeping a property you’re not using.
Selling is the most permanent option and the most freeing. The cash injection funds years of travel, but there’s no easy undo.
Option 3: Leave It Empty
Leaving the house empty is the simplest option logistically but the most expensive week-to-week.
The costs don’t stop. Mortgage repayments (or the opportunity cost of the equity sitting idle), council rates, building insurance, contents insurance, water and electricity connection fees, lawn and garden maintenance, and security. For a typical mortgage-free home, expect $200 to $500/week in holding costs. With a mortgage, add the repayments on top.
Security. An obviously empty house attracts break-ins. Mitigation strategies: light timers (randomised, not on a fixed schedule), mail collection by a neighbour or friend, lawn mowing arranged, a trusted person checking the property weekly, and potentially a security system or monitored alarm. Don’t advertise your absence on social media.
Maintenance. Houses deteriorate when empty. Taps seize, dust builds up, gardens die, gutters block, and pest infestations go unnoticed. Arrange for someone to visit at least fortnightly to run taps (prevents pipes drying out and seals failing), flush toilets, check for leaks or damage, and air the property.
Insurance. Check your home insurance policy’s unoccupancy clause. Many policies have restrictions if the property is unoccupied for more than 60 to 90 consecutive days. You may need to notify your insurer and potentially pay a higher premium. Failing to disclose that the property is empty could void your coverage entirely.
When it makes sense. Leaving the house empty works best when: the trip is short (3 to 6 months), the mortgage is paid off or very low, you want the certainty of returning to your own home, or the local rental market doesn’t justify the hassle of tenants. It also works when someone (adult child, house-sitter, family member) can stay in the property part-time.
Check your home insurance unoccupancy clause before you leave. Many policies restrict or void coverage if the property is unoccupied for more than 60 to 90 days. A house fire or flood while you’re away with voided insurance is a financial catastrophe.
If You’re Already Renting
If you don’t own your home, the decision is simpler but still needs planning.
Break the lease or end it. If your lease is ending near your departure date, give proper notice and leave cleanly. If the lease isn’t ending, you’ll need to break it. Break lease costs vary by state but typically include a fee (4 to 6 weeks’ rent) plus advertising costs until a new tenant is found. Factor this into your pre-departure budget.
Storage. Everything that was in your rental needs to go somewhere. Family, friends, or a storage unit. A 10 to 15 square metre storage unit costs $150 to $350/month. Be ruthless about what you keep; paying $300/month to store furniture worth $2,000 makes no sense after 7 months.
Sublet (if allowed). Some leases allow subletting with the landlord’s written consent. This means finding someone to take over the lease for the duration of your trip, leaving your belongings in the property. It’s the best of both worlds if the landlord agrees, but many won’t.
Be ruthless about storage. If you haven’t used it in 12 months and it’s not sentimental, sell it before you leave rather than paying $300/month to store it.
The Decision Framework
If you’re stuck, work through these questions.
How long is the trip? Under 6 months: leaving empty or a short lease often makes sense. 6 to 12 months: renting is usually the best financial decision. Over 12 months: renting or selling both make strong cases; leaving empty becomes expensive.
Do you have a mortgage? If yes, the mortgage repayments on an empty house are a significant weekly cost with no offset. Renting covers most or all of the mortgage. Selling eliminates it entirely.
Is your local rental market strong? In a strong rental market (low vacancy, high demand), you’ll find tenants easily and get good rent. In a weak market, finding tenants takes longer and the income may not justify the hassle. Check rental vacancy rates for your suburb before deciding.
How important is the certainty of returning home? If the thought of coming back to your own house exactly as you left it matters deeply, leaving it empty (with the associated cost) might be worth the peace of mind. If you’re flexible about where you live after the trip, renting or selling opens up more options.
What’s your risk tolerance? Selling is permanent. Renting has tenant risk. Leaving empty has cost risk. All three involve trade-offs. The right answer is the one whose trade-offs you can live with.
- Three options: rent (income + keep asset, but landlord responsibilities), sell (maximum freedom + cash, but permanent), leave empty (easy return, but expensive with no income).
- Renting: use a property manager (5 to 10% of rent), switch to landlord insurance, align lease length with trip duration, and understand the tax implications before you decide.
- Selling: allows full CGT exemption on a primary residence, gives maximum financial freedom, but means exiting the property market. Allow 6+ months for the process.
- Leaving empty: check your insurance unoccupancy clause (many void coverage after 60 to 90 days), arrange regular property checks, and budget $200 to $500+/week in holding costs.
- If renting a home: factor in break-lease costs and be ruthless about what you put in storage versus what you sell.
- Decision depends on trip length, mortgage status, local rental market, importance of returning home, and personal risk tolerance.
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