We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
Buying in Hungary
leeo123
Posts: 5 Forumite
I am interested in buying a property in Hungary. I am unsure of whether to buy myself or setup a company, as it will be partly rented out. I have no experience of business or setting up one. Any advice welcome. It will be funded partly with credit (approximately 60-70%).
0
Comments
-
Budapest is my favourite place in the world! One thing you need to think about is that Hungary tends to be on side with Russia. You have to think about the future of owning anything there if Hungary decides to really get into bed with Russia.leeo123 said:I am interested in buying a property in Hungary. I am unsure of whether to buy myself or setup a company, as it will be partly rented out. I have no experience of business or setting up one. Any advice welcome. It will be funded partly with credit (approximately 60-70%).
My partner and I had conversations about buying a place in Budapest but you are dealing with a possible Russian ally that could possibly return to communism one day although we really hope not.
2 -
Your short post rings so many alarm bells! I assume you don't have a family member in Hungary that is a specialist property lawyer in Hungary, or a friend who is already running a rental business there, otherwise you would have mentioned this.leeo123 said:I am interested in buying a property in Hungary. I am unsure of whether to buy myself or setup a company, as it will be partly rented out. I have no experience of business or setting up one. Any advice welcome. It will be funded partly with credit (approximately 60-70%).
You don't have the knowledge, skills or the money to do this, so my advice is don't do it!
The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0 -
Think seriously about this, you are talking about borrowing 70% of the cost, to own a property in another country, where presumably you don't know the language, customs or law and planning to run a rental business? Who will manage the rental (which is complicated enough here in the UK)? And with the instability that could very easily happen? I'd wait for a decade or so. Or choose somewhere else.0
-
Thanks for the comments, but I do have connections in Hungary. I've been there about 20 times. With a growing family we don't want to stay with family so much and therefore this would really help. Appreciate the issues with buying abroad however and especially the Russian aspect. It is something that concerns me.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.8K Banking & Borrowing
- 252.6K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.8K Work, Benefits & Business
- 619.5K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards