Buying property abroad

[BigGully]

I have friends that have dreamt and brought abroad, with various degrees of success.

I cannot understand why you wouldn't use the money to buy here in the UK, knowing the market and having an understanding of it with it's associated laws and trusted associates that can steer you through unforeseen difficult times, far less stress.

Use the returns to pick anywhere in the world to holiday or longer term residence, it seems a little apartment here might show better returns than any larger more impressive villa somewhere in the hills somewhere in Spain.

Good luck hope it goes to plan.

 

[royceyboy]

Anyone done it? Giving some serious thought to buying a holiday home for the family somewhere warm and sunny but I'm a little bit trepedatious.

You hear horror stories of people losing their homes because the developer didn't have planning permission or because the property was 3 inches taller than its plans permitted, but is that common? Also a little nervous as to how easy it might be to sell should I ever need to - I understand foreign property markets move a little slower than over here.

Looking for somewhere within 3 hours of the UK with decent food and amenities for kids. Any recommendations?

I brought in the Javea region of Spain 3 years ago. It's a fantastic area, and there are still plenty of bargains to be had. You can get more for your money if you move just out of town from Javea/Denia/Moriara depending on what you want to spend.
You can fly into Alicante or Valencia, as either are only an hours drive, and the flight time is only two and a half hours. We used a Spanish speaking lawyer who specialises in land grab cases, so she was well up on the local laws etc. Happy to give you her details if you buy there.
We wasn't sure how much we would use the place, but with such cheap flights available through the budget airlines, we go down once or twice a month, even in the coldest winter months, as it's still beautiful and sunny in the day time.
Happy to give more info if you need it.

 

[Cadiz Seagull]

Is there not a law in Spain that you take over any existing debts?

Any decent lawyer will put a clause in the contract saying the sellers must clear all debts before completion. Otherwise the debt will pass to the new owner. Then they check the nota simple on the morning of completion to make sure it has been done.

 

[Superphil]

Trouble is you could wait for ever for everything to be just right, Brexit will take another two years, but you are right anything could happen!

One thing won't happen though, you won't be stopped from freely travelling to your new home, unless they put up a new iron curtain, or You Buy in North Korea. Currently you have to show your passport, and in the future you'll have to show your passport.

 

[Wilko]

I had one in La Marina near to Alicante for twelve years and sold it about three years ago.
I enjoyed it at first, but holidays became so much the same and I started wanting to go to other places. .

This is what puts me off. I do not see the attraction of going to exactly the same place every single time you have some time off work. Holidays for me are about going to new places.

 

[BensGrandad]

This is what puts me off. I do not see the attraction of going to exactly the same place every single time you have some time off work. Holidays for me are about going to new places.

If I have the money to guy abroad it wouldnt be for holidays it would be to be semi permenant.

 

[Driver8]

If I have the money to guy abroad it wouldnt be for holidays it would be to be semi permenant.

We'll have a whip round.

 

[moggy]

One thing won't happen though, you won't be stopped from freely travelling to your new home, unless they put up a new iron curtain, or You Buy in North Korea. Currently you have to show your passport, and in the future you'll have to show your passport.

This entirely.
The area I bought 2yrs back have a few English solicitors so it was pretty plain sailing.
Always use a currency broker when moving large amounts of money.
Will save you a load. I used currencies direct in case you ask.
Don't worry about bloody brexit.
These countries need us more than we need them and the money expats bring to their economy especially in Spain from council taxes to local taxes and general spending is astronomical especially in Spain.
Don't forget, there's thousands of other nationals in Spain that aren't in the EU, especially Chinese so why would us brits get treated any worse. It won't happen.
Choose the area, do your research and get an English solicitor.
Once you've chosen you're area check out the expat Facebook pages for the area which are bound to be many.
Good luck

 

[BensGrandad]

We'll have a whip round.

Wont stop me being on here though.

 

[BigGully]

Wont stop me being on here though.

Ha ha, touche, fair play BG

 

[easynow]

If anyone needs any advice on solar system real estate, feel free to ask me. I own two craters on the moon and four stars (thanks grandma!)

 

[Lady Whistledown]

Wont stop me being on here though.

Given your apparent travails in trying to operate the most basic of technology, BG, I'm not sure I fancy your chances with a Spanish-based internet provider

 

[MrSnuggles]

You should look at Sal in the Cape Verde Islands. May be a little further than you were considering but there are plenty of positives for buying there. Guaranteed sunshine, cheap accommodation, no adverse weather conditions, plenty of UK flights, no political unrest and voted the safest place in the world for tourists! Check it out, you won't be disappointed!

 

[Tokyohands]

I own my house here in Tokyo but my wife is Japanese so, although it was a very complicated process, that made the process a lot smoother. For what you're thinking, resale can be a big issue so take that into consideration when choosing your country/area and also the euro exchange rate isn't exactly favourable at the moment if you're buying with GBP, so as someone else said, I would wait a bit if you're thinking of the eurozone. I got some places in Ireland a couple of years ago and the process was very straight forward a) because of language and similarities in laws etc and b) I managed to find an excellent solicitor there who goes and looks at places for me and put me on to great people to manage them and the income. The people who you will ultimately need to trust and rely on will make a big difference, so get some solid recommendations if you can and keep your eyes wide open at all times.

 

[saafend_seagull]

Barcelona yields are mad, air BNB has completely changed that market. A tiny, grim flat near beach rents for 125e a day in May, costs under 200k...


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[Herr Tubthumper]

Barcelona yields are mad, air BNB has completely changed that market. A tiny, grim flat near beach rents for 125e a day in May, costs under 200k...


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A number of cities have, or are, introducing legislation regarding AirBnB style letting. I wouldn't buy a property using this as a model especially in Barcelona. The Catalan capital is currently looking to reduce tourism and has already introduced some laws to facilitate this.

 

[Tom Hark Preston Park]

Barcelona yields are mad, air BNB has completely changed that market. A tiny, grim flat near beach rents for 125e a day in May, costs under 200k...

Aren't Barcelona trying to crack down on Airbnb rentals to the point of asking residents to report them to the council?

 

[saafend_seagull]

A number of cities have, or are, introducing legislation regarding AirBnB style letting. I wouldn't buy a property using this as a model especially in Barcelona. The Catalan capital is currently looking to reduce tourism and has already introduced some laws to facilitate this.

Not surprised, returns are crazy. I imagine a lot of people have bought because of this!

 

[Herr Tubthumper]

Aren't Barcelona trying to crack down on Airbnb rentals to the point of asking residents to report them to the council?

Not sure about Barca. But this is the case in Berlin.

 

[Official Old Man]

Great story when I sold my place in Spain in 1997. You go to the council building and are ushered into an office where checks are made regarding any outstanding debts etc. There will be the seller and agent, buyer and bank agent and council representative to oversee it. Everything is discussed and then the council rep will 'make an excuse' and leave for five minutes, at which point brown envelopes cross the floor at high speed. On his return he will say "now, where were we?" and cheques for a fraction of the actual price cross the floor and he then signs it off as sold. No wonder Spain went downhill as the black market was huge.