goodnight

Thinking of getting a Holiday home somewhere warm in Europe, would be looking at renting it out when I'm not using it. Would like low cost of living and high proportion of English speaking locals as I don't speak any other lingo's! Would not want to be in a tourist trap but not stuck in the middle of nowhere.
Any ideas anyone, or am I asking for to much with £50K?
any useful websites.

Or would I be better off investing in a house or two near to a University in the UK and renting rooms to students and then using the income to fund my Hols?
Incidentally I did see an ad by Hillingdon Council offering 5 year contracts, with the guaranteed rent paid quarterly in advance even when the house is unoccupied and at the end of the contract they even repair and decorate for you!

thanks goodnight

Tiggs

never quite got this one...had a few clients who have done it and lots who sold prety soon after.

if its as an investment why buy one that you cant check up on and become 99% reliant on local agents?

if its for a holiday why limit yourself to a holiday in the same place every year?

as i said...i dont quite see the appeal?

goodnight

Some good points raised Tiggs, ultimately I would be looking to perhaps retire to a warmer climate in 20 years time. I can see that keeping an eye on things would become a hassle over time if it was abroad, so maybe buy property local-ish near to a Uni and sell in 20 years time.
Thanks goodnight

Tiggs

buy something local as an investment only (dont cross mix your finacial objectives) and spend the next 20 years traveling all over so when you retire you find the perfect spot based on massive experience!

T

carl

You can certainly buy something for around the £50k mark. There's some here http://www.homeinthesun.co.uk/Costa%20Calida.htm

GaryK

gn,

Like anything do your homework first. The same property rule here applies to overseas as well, location, location, location!

If your looking to buy in southern spain say then the further inland you go the cheaper it is. I bought two years ago on the Costa Del Sol and got a new build for 80K when they go for anywhere from 120-140K+ depending how close to marbella/puerto banus you go. That said however a UK property may well have performed the same in that time frame. bear in mind also the location reflects the weekly rental income figure as well.

As regards rental you can go management only so instruct a local firm to be key holder and provide cleaning facilities while you do all the renting from here in UK as yes there are plenty of horror stories relating to local agents.

If you can buy off-plan you typically make more (as an investment) but normally have to stump up installment amounts along the way.

Good Luck

gary