Rev Posted July 27, 2017 Share Posted July 27, 2017 Has anyone done this, and if so how did you find the experience? I'm talking more about a second home, rather than moving lock stock and barrel. Is it easy to let out the property when you're not using it, or is it ultimately more hassle than it's worth? Would you do it again, did you use a letting agent etc? Any advice and experiences appreciated. Link to comment Share on other sites More sharing options...
needles Posted July 27, 2017 Share Posted July 27, 2017 Not direct experience, but my buddy bought in the Canaries and lets it out 48 weeks of the year. Engaged a local lawyer with good rep to take care of the purchase business and uses one of the larger rental sites to let it. Pays a local company to clean and be on call to tenants for emergencies. No problems aside from the usual home owning crises - but the lesson is to pay the market rate for reputable people to represent you on the ground. Don't skimp on that for the sake of peace of mind. He still says the day he OK's wiring 200k or whatever off into the ether to a guy he'd never met to buy a property he'd visited once in a different country was an extremely surreal and stressful hour. Link to comment Share on other sites More sharing options...
ketteringram Posted July 28, 2017 Share Posted July 28, 2017 No direct experience, but it's something I have seriously considered. Decided that I'm the sort of person who would be constantly worrying about the property, so haven't done it! Link to comment Share on other sites More sharing options...
Stive Pesley Posted July 28, 2017 Share Posted July 28, 2017 I know a guy who bought a villa in Spain, He's had loads of hassles with it costing far more in upkeep and taxes than he expected He rented it out for a while, but had too many bad experiences of stuff getting damaged and no one admitting responsibility, so he stopped doing it. Now just goes out there as often as he can and uses it purely as his second home. He's also now massively stressed about the whole Brexit situation as there is just so much uncertainty over how it might impact him So I guess the lessons I'm seeing there are 1) don't underestimate the ongoing costs 2) if you rent out - be prepared for hassles (or to pay someone to sort the hassles - but that brings its own stress as you can never 100% trust a stranger doing it for money) 3) choose a non-EU country until the Brexit mists clear! Link to comment Share on other sites More sharing options...
Spanish Posted July 28, 2017 Share Posted July 28, 2017 spend as much time finding a good trustworthy lawyer as you spend looking for the property. Link to comment Share on other sites More sharing options...
Day Posted July 28, 2017 Share Posted July 28, 2017 Wouldn't catch me buying a second home when others need one, I would kick the door down, take over the property, hand it to someone else. Link to comment Share on other sites More sharing options...
1977 Ram Raider Posted July 28, 2017 Share Posted July 28, 2017 And you'll get free Rams TV Link to comment Share on other sites More sharing options...
Stive Pesley Posted July 28, 2017 Share Posted July 28, 2017 27 minutes ago, 1977 Ram Raider said: And you'll get free Rams TV It's not free! Link to comment Share on other sites More sharing options...
Day Posted July 28, 2017 Share Posted July 28, 2017 Bloody Tories! Link to comment Share on other sites More sharing options...
RamNut Posted July 28, 2017 Share Posted July 28, 2017 I know someone who bought a plot in spain to build a house on. lost everything. Dunno exactly what happened Link to comment Share on other sites More sharing options...
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