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Buying Abroad?
Comments
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No one wants to speculate, it is a very dangrous game but lets take an example.
You purchase a property in europe for €150,00. On the day of the purchase the exchange rate is 1.495. This means that the property has cost you £100,334. But if you do not secure the currency that day you are then seculating. Lets say you leave it to 3 weeks later and the exchange rate has moved to 1.455. The propery will now have cost you £103,093. A whopping £2,759 more.
Lets also consider this the other way round and that at the date of purchase the Euro exchange is 1.41.
Q Would you then
A Secure the rate to take away the speculation?
B Play the market, speculate and see what happens?
C Seek advice before making a decision (speculating until that time)?0 -
Hi coco.
Thanks for the PM.
I understand what you are saying. But what if the rate goes to, say, 1.525?
Wouldn't you then lose about 3k ?dolce vita's stock reply templates
#1. The people that run these "sell your house and rent back" companies are generally lying thieves and are best avoided
#2. This time next year house prices in general will be lower than they are now
#3. Cheap houses are a good thing not a bad thing0
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