Buying A Place Abroad
Discussion
Hi all,
I am thinking of buying a place abroad to make sure that I have some form of decent income when I retire. I am not bothered about making any money from it in the short term and I can go upto about £150k, but! where's the best place to buy?, and is it best to buy a couple of places or one large one etc etc?
Cheers
John
I am thinking of buying a place abroad to make sure that I have some form of decent income when I retire. I am not bothered about making any money from it in the short term and I can go upto about £150k, but! where's the best place to buy?, and is it best to buy a couple of places or one large one etc etc?
Cheers
John
turbobloke said:
Good question that a lot of folk are considering, but I suspect you'd need to add something about geographical preferences etc, there are locations where you could buy a palace for that sum and others where it would get you a small flat...
The only thing that I am interested in is the max monthly income over the year, I don't care where it is and what it's like, I am quite happy to never go there.
John
If you want income but aren't worried about capital growth, then I think maybe Florida, near Disney, would be worth investigating. House building there is continuous though and I don't forseee much capital growth, but the holiday rental market seems to be pretty good. But investigate very carefully, for example, for zoning controls about whether you are allowed to let out.
Having a good managing agent is important; they usually take about 10 to 20% depending of the level of service.
Having a good managing agent is important; they usually take about 10 to 20% depending of the level of service.
james_j said:
If you want income but aren't worried about capital growth, then I think maybe Florida, near Disney, would be worth investigating. House building there is continuous though and I don't forseee much capital growth, but the holiday rental market seems to be pretty good. But investigate very carefully, for example, for zoning controls about whether you are allowed to let out.
Having a good managing agent is important; they usually take about 10 to 20% depending of the level of service.
I thought about Florida as a good option, the houses over there are fairly cheap, do you know any good agencies?
Cheers
John
rushdriver said:
If you want income but aren't worried about capital growth, then I think maybe Florida, near Disney, would be worth investigating. House building there is continuous though and I don't forseee much capital growth, but the holiday rental market seems to be pretty good. But investigate very carefully, for example, for zoning controls about whether you are allowed to let out.
Having a good managing agent is important; they usually take about 10 to 20% depending of the level of service.
I thought about Florida as a good option, the houses over there are fairly cheap, do you know any good agencies?
Cheers
John
I can't think of any off-hand, but you could try asking companies like Virgin, who I think use such agencies, for names.
james_j said:
james_j said:
If you want income but aren't worried about capital growth, then I think maybe Florida, near Disney, would be worth investigating. House building there is continuous though and I don't forseee much capital growth, but the holiday rental market seems to be pretty good. But investigate very carefully, for example, for zoning controls about whether you are allowed to let out.
Having a good managing agent is important; they usually take about 10 to 20% depending of the level of service.
I thought about Florida as a good option, the houses over there are fairly cheap, do you know any good agencies?
Cheers
John
I can't think of any off-hand, but you could try asking companies like Virgin, who I think use such agencies, for names.
Thanks James
John
puggit said:
Mrs Puggit and I attended 'A place in the sun - Live!' at London Excel last weekend.
There were LOADS of companies pushing properties in Floria - but unfortunately we aren't looking there and can't help
I went there too and must say was disappointed with the quality of the exhibitors.
I am looking to get somewhere in the Caribbean but am also looking at the Gulf Coast of Florida. A lot of the Florida exhibitors considered me from another planet when i stated i had no interest in the Orlando area...at this moment my game plan is to get somewhere rent it out then move there and rent out my London property.
Would also suggest you have a little look into the SIPP proposals from April 2006
Not sure if I would buy a property overseas just because a low cost flier goes there....it seems to me that some of these flights could be pulled as easily as they are set up
you will probably have to pay to make sure the place doesn't get burned down in your absence...Byff said:
I've just bought a place in Bulgaria. Very much the same scenario as you, but because I'm interested in a bit of snowboarding, decided to buy an apartment in Bansko incase I ever do want to visit.
Apart from that, it has a longer rental period, Winter and Summer.
Byff,
Thanks for the info, I've had a quick look and the prices seem pretty good, if you don't mind (and if you do tell me to sod off!), what sort of return do you get per month?
Cheers
John
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