Buying a holiday home abroad. What to look out for?

Ian_W

Country?not saying yet

For that reason - I'm out!;)

sunshinetours

Others have cobered th main points but also consider taxation in the country of renting out and also your UK tax

Consider Inheritance tax situation both in country of ownership and UK (a UK will may not be enough to achieve what you wish in the country of the flat for example)

Consider the financial stability of the country you are looking at. If Greece for example obviously you may wish to think twice about the infrastructure and locals views on your buying of their property (just an example not suggesting it is Greece). If a country tanks and so do property prices, you are in a different regime especially if you couldn't sell and local taxes for foreign owned properties were raised for example

Flight costs and access to the property from airport are definitely key points already raised. If one of those airline pulls out what happens to prices? Can you access by land for example?

Why not consider renting there again fo a another year and see if you are happy going back again and again

Good luck!

martindow

OP I am not sure why you are being so mysterious about the country. If you specified that, you may well get some more specific and helpful advice. The country is not going to identify the town you are looking at so we won't be buying everything up before you get the chance!

missile

silvercar wrote: »

Do you rent out? Does that work for you?

I have experience as LL in UK and Spain and tennant in Holland. One of my friends is co-owner of a holiday complex in Bulgaria. I have a friend who runs a holiday business in France. I have a work colleague who owns property in Turkey.

The situation is very different in each of those countries.

I would never trust paypal!

So how are you going to collect the rent?

Good luck :T