Buying to let

donmaico

Is it worth it , here or abroad even? I have looked at a couple of letting sites on the net and there seems op be tonnes of letting "availability" at a time when I think they should be well booked in advance. My wife and I were thinking of buying such a propperty in Cornwall. We wouldnt need a mortgage as we already have property to sell here in Sussex but its whether it would generate enough income to provide a living although we would both continue working when one takes all the expenses involved eg council tax maintenance charges it doesnt seem to to be worth it. Does anyone have any suggestions? thanks

donmaico

after doing some research I came to the conclusion that sea side areas are only worth it during the summer season whereas somewhere like Bath or Stratford upon Avon with their year round appeal might be better. The next question is what kind of property would be suitable? Maybe one near the town centre with parking facilities and nice view or in a surrounding village?Thought of a flat but service charges can be very expensive.

gallygirl

Who would you be targeting? Middle class families I assume from locations. 2 possibilities:
1. Middle class suffer in economic downturn, book your place instead of Tuscany, or
2. Middle class suffer in economic downturn, don't book anywhere.

I wouldn't risk it at the mo, especially with prices, erm, correcting

donmaico

ali007 wrote: »

Who would you be targeting? Middle class families I assume from locations. 2 possibilities:
1. Middle class suffer in economic downturn, book your place instead of Tuscany, or
2. Middle class suffer in economic downturn, don't book anywhere.

I wouldn't risk it at the mo, especially with prices, erm, correcting

I was going to leave it a year or so to see how the market develops, but Bath seems to have quite a good residential rental market as well.Anyway I'm not rushing anything.

IveSeenTheLight

Just a quick point.
If you have a tenant then they are responsible for the council tax (assuming you lease out for a minimum 6 months).

donmaico

IveSeenTheLight wrote: »

Just a quick point.
If you have a tenant then they are responsible for the council tax (assuming you lease out for a minimum 6 months).

yes i know.
The costs in holiday lets are much higher- Council Tax, maintenance ,furnishings laundry.The location is vital .For eg Cotswolds would be good because its within reach( no more than 2 hours) of Bath Oxford Worcester Cirencester Warwick and Stratford as well as local villages

unknown_member

I looked into this before I started renting.

Becareful, many actually cheat to increase the "asking price" and then sell on for a big fat profit and you're left with a house which isn't worth as much as you paid. There's two my wife found which had avarage prices, although I don't trust them as much for some reason.

~Unknown..

P.s It's a shame it's hard to save to become cash buyers these days, my grandparents managed without harm but these days.. you'd find it easier to cut off your own hard and walk using the other

Conrad

We sold UK buy to lets in 05/06 as we thought a crash was possible. Invested in Germany to achieve 20% yield which is 4 x higher than typical UK yields. Also invested in safe Government mega resorts currently all bieng built in Morocco and we think the yield will be at least 10% with 20% a possibility (I only buy into safe, hassle free investments btw).

Will look at UK again if the yields improve. We did retain a commerical property in UK as yield is good but you need a location with high demand or you can end up without a tenant for long periods.

UK holiday letting is I think the worst investment of all.

donmaico

My reservation about investing abroad ,and putting aside the obvious islamist threat in a Muslim country, is the difficulty in keeping an aye on said investments. I have heard too many nightmare scenarios where a property isnt serviced properly ,charges are exhorbitant and there has been great difficulty in reselling(mainly in Spain i have to say).Germans, I know, tend on the whole to rent so I guess there is a considerable market. Question is where is best ,what type at what price ,what rents can one expect, what are the servicing( and the standard of) charges like ? Finally are Germans more likely to loom after the properties ?Thanks

donmaico

this place offers 10% guaranteed rental plus 20% appreciation

http://www.worldwideinvestments.co.uk/alto-grande-del-arte-san-nicolas.htm

Argentinas economy is notoriously fickle though

donmaico

just a bump!:money: