Direct AnswerUS citizens returning from London after several years re-establish California residency and buy back into the market - often the Conejo Valley or Ventura County. A common misconception: Proposition 19's property-tax base transfer generally does NOT help a returnee, because it applies to existing California homeowners (55+, disabled, or disaster victims) moving within California - not to someone returning from abroad with no California property to transfer from. A returning buyer is normally assessed at market value under Proposition 13. Selling UK property may trigger US capital-gains considerations, and UK pensions need cross-border review. Brian is a REALTOR®, not a CPA.

Coming home after years in London is its own kind of relocation - you're a US citizen, but your finances, pensions, and tax picture have a transatlantic footprint. Here's what returnees should line up.

Re-establishing California residency

As a US citizen you have the right to live and work here, so there's no visa step - but you'll re-establish California residency (driver license, registration, voter rolls, and tax filing) and, as a US person, you've been filing US taxes on worldwide income all along.

The Proposition 19 misconception

Worth correcting: Proposition 19's base-year transfer is for existing California homeowners who are 55+, severely disabled, or disaster victims and move within California. A returnee arriving from London with no current California home generally has no base-year value to transfer, so a fresh purchase is normally assessed at market value under Proposition 13. (If you still own a California home from before you left, that's a different conversation - tell Brian.)

UK property, pensions, and capital gains

Selling your UK home can raise US capital-gains questions (the US main-home exclusion of $250k/$500k may help if you qualify, but foreign-currency gains and timing complicate it). UK SIPPs and workplace pensions need cross-border handling, and you may have FBAR/FATCA reporting. A cross-border CPA should review before you sell or transfer. Currency: repatriating GBP to fund a US purchase makes USD/GBP timing matter (Brian can refer vetted FX providers, RESPA-disclosed; he doesn't advise on currency).

Where returnees land

Conejo Valley, Westlake Village, Calabasas, and Ventura County are common for space and schools. See the UK relocation hub and UK pension/SIPP guide.

Important - please read: Brian Cooper is a licensed California REALTOR® (DRE# 01434286), not an immigration attorney, CPA, tax adviser, or financial adviser. Visa, tax, pension, and currency information here is general and educational - confirm your situation with a qualified cross-border attorney and CPA. Any lender or service-provider referral is disclosed under RESPA. Equal Housing Opportunity - service-area awareness only, never steering by national origin, religion, or any protected class.
Primary sources: California BOE - Proposition 19 · IRS Publication 523 - Selling Your Home · IRS - Report of Foreign Bank and Financial Accounts (FBAR)