Owing a property abroad - would like to hear people's experiences

Mallotum_X

My parents bought property in France 15 years ago, a farmhouse with other buildings attached. They didn't pay much and took the view that they could afford to walk away with zero back if things went wrong. They have restored the other buildings pretty much on a hobby basis so its taken a long time.


They have now moved out permanently and rented out the UK home. Chances are if they sold now they would make a small profit compared to what they have spent but for them that was not the intention and have spent many weeks every year there before moving last year. For them it was never regarded as an investment.


Funnily enough I'm now looking into purchasing an apartment in Budapest. And again going into it with eyes wide open that it wont be for investment purposes. We are looking to buy with a view to using the holiday lets market to generate some income, but only to cover basic costs rather than an investment. If it makes money great, if it doesn't then we are not expecting it.


perhaps the advantage for people looking to buy in much of Europe now is that prices did fall and haven't really recovered in most places. So you are at least buying at what looks like the bottom of the market.


current exchange rates work against you, but perhaps they may get worse.


in my view its unlikely that eu countries would want to cut the flow of brits and cash into their countries post brexit, so whilst there are some risks Im not too worried.