Holiday homes!!!

[MayContainNuts]

I'm toying with buying a place abroad for holidays and the like!!! I know some forum regulars have these places but who are you, where are they, and when I'd you buy?!!!

Is it worth doing now interest rates are so low?!!!

[v8gaz]

You could have got somewhere really nice if you hadn't blown all your dosh on exclamation marks!

[Gruffalo]

I'm toying with buying a place abroad for holidays and the like!!! I know some forum regulars have these places but who are you, where are they, and when I'd you buy?!!!

Is it worth doing now interest rates are so low?!!!

My mum has a lovely 2 bedroomed place that can sleep 6 in a coastal town close to Perpignan in the South of France.

Key considerations:

1. My mum bought it because she likes the area, and has friends who holiday in the area.
2. Based on point above, the July to August short season for the locals to rent it for good money is not so much of a problem.
3. She has a local agent who rents to the French for top money, but the last couple of years has had just 2-3 weeks rental from the French. I have had a couple of lets to friends, colleagues etc.
4. Are you wanting to rent it out at all? I would be wary of internet renting, hence very happy to rent for top money for a couple of weeks with a good reliable local agent.
5. Getting there. Loads of budget flight airports nearby, Perpignan, Girona, Beziers, Monpellier, Carcassonne, Barcelona. All within 2 hours. However, all are served by RyanAir. Which is flaky, but good for the time being!

Which country are you thinking of? Spain is bankrupt, so you will get a good place for not a lot of money. But, it is in Spain.

Perpignan is great as cheap and easy to get to, and very French - Eg, no costa del brits or anything of that nature. There are some Brits in the complex, not many, but very nice and upper class types. No trouble or any hassle which counts for a lot.

The pad has a good pool, local shops, restuarants etc and 10 mins from the nicest, most empty beach you can imagine with stunning views.

What matters to you? What is your budget? Where would you like to go to / avoid?

Does climate matter much? South West Catalan region of France is the best for weather in the main, but the mountains in the region make it a little unpredictable, but no problem as loads of good places to explore, and any cool / cloudy day tends to change quickly.

Lots of things for you to think about!

Mum's pad out there cost around 200K Euros I believe.

Oh, if renting, French laws are bonkers now, they are thinking of a law that assumes 80% occupancy if you rent, which is clearly mad. Takes a lot to argue the case in pigeon French that you really are just renting for 2-3 weeks only with the local agent.

Sandique (rent for the pool, upkeep etc) around 2000 Euros a year, which the rental income more or less covers.

Hope this helps a little?

[mudskipper]

How about a caravan in Wales?

[hyperD]

How about a caravan in Wales?

[Old Hack]

OK, there are a couple of points I can add, as I have bought out there.

First things first, don't rent it out, it's too much hassle for not a lot of money. I'd avoid the Med, like the plague, as you can't get about, it's just way too busy in summer, and personally, I prefer a holiday to be a quieter affair. We were in the Perpignan area for a few days in August and couldn't ait to get out. We bought in Poitou Charentes (Charentes Maritime) as it has about the same sunshine as the Med, is quieter, and cheaper. The local Marie has a whole heap of powers, including sending the Gendarmes around to check on your taxes (no, not kidding) and if they think you are pissing them about, they can get quite mardy. One thing you should not be doing, is pissing the Marie or the Police Locale off.

Right, about the purchasing of the property.

There are things called Societe Civile Immobiliere (SCI), which are kind of like trusts. We have the whole family as equal shares in one in France. SCI's are viewed as corporate affairs by HMRC, so you can make the SCI a shareholder in your UK Ltd, and thus pass it enough money, from your Ltd, corp tax free, and then use the money to purchase the property in France. You can't ever let the property furnished, however, but you'll save 20% by passing money straight from the Ltd. We purchased it this way, and the whole family now have a place they can holiday in.

PM me if you'd like further details. There are lots of stuff you should know about, including getting people to work on your property, etc, etc.

Houses in France are absolutely stupidly cheap at the moment. When we bought ours, we even had the chap give us his 4 yo 318d BMW as part of the sale. If you sit tight, you can bag a bargain.

[Gruffalo]

OK, there are a couple of points I can add, as I have bought out there.

I'd avoid the Med, like the plague, as you can't get about, it's just way too busy in summer, and personally, I prefer a holiday to be a quieter affair. We were in the Perpignan area for a few days in August and couldn't ait to get out.

Not Canet Plage area by chance? That is indeed mobbed. Argeles is also mobbed - St Cyprien where we are is between the two, and has a lovely quiet beach - pure bliss

If you have any advice on renting and tax situation that would be brilliant to know about. We just rent through the local agent who are on site, and mates rates cheap cover electric kind of money to people we know, interested in renting more, but the challenges of getting a reliable remote agent, and the taxes are putting us off!

[d000hg]

My mum has a lovely 2 bedroomed place that can sleep 6

That's a special kind of holiday.

[VectraMan]

I'm toying with buying a place abroad for holidays and the like!!! I know some forum regulars have these places but who are you, where are they, and when I'd you buy?!!!

I see you've already made a start on learning a foreign language.

[alreadypacked]

I was looking for winter sun, so I bought in Sharm in Egypt. I even "worked from home" on one contract.

Will not be going there this winter or maybe next. But I knew the risk when I bought.

Good things about my apartment:

it is on a front line resort, no problems about security and direct access to the beach.
Water and Ele are on pre-paid meter cards, no bills or standing charges. I only pay for what I use. Also if family or friends use the apartment, I am not left with a big bill.

Down side, not much resale value at the moment.