Buying a house abroad?

[Pheo]

I know many on here has considered or indeed have done this - some great threads!

I’m currently late 30s and I’m considering where I want to end up, and so am looking into the possibility of buying a house abroad, initially as a holiday home, and then perhaps to become something more permanent. Just trying to assess realism / practicality of setting it as an aim at the moment.

I’ve been looking at Italy as it tends to be my favourite European country, although not 100% wedded to this as unfortunately due to Brexit I suspect visas could be an issue.

I’m seeing plenty of places on Rightmove overseas which windowshopping for £125k which seem to be incredible VFM. I’m very handy and do alot of work on my current place in the UK myself, as some of my threads will attest to, although got to be realistic while I’m still working I can’t take 3 months off so easily to “pop round” and do a bunch of jobs.

Any factors I should consider and that I might need to have a long term plan for? What are the downsides I’m not seeing? On the flip side, what are the positives which you have most appreciated if you’ve done it, or that you’re looking forward to?

Hopefully an engaging discussion, just for fun now, but maybe not forever!

[Pheo]

Some great tips here. Would actively want to learn the language, it’s on my bucket list, so totally agree there.

I agree / have concerns regarding maintenance costs, would need to look into that. Can be handy as you like but if I’m all the way back in the UK it’s a fat lot of good (hard enough finding reliable traders here, let alone through a language barrier!)

Hasn’t thought of the buy two rent one out scenario. That’s atleast worth thinking considering as part of the long term plan (although I note you decided not to - any particular reason why?)

[Pheo]

Some interesting follow ups thanks. Fair points about usage; we have access to a holiday cottage owned by the family just outside woolacombe and struggle to get down there so it’s a very valid point.

I don’t think I would be wanting to buy a holiday home for only that reason - my thought was to transition to living there for significant chunks of time; not just a couple of weeks a year as I agree, waste of time. The idea being transitioning to living out there more permanently.

Sounds like Italy might not be the best place from a visa perspective. Also sounds like I really should not buy a wreck! Unless living there full time I guess you need a very different property.

Some great input here though thanks all. I will add this was more me asking to assess practicality / shape a possible plan - I don’t have the funds to run off and buy something right now, so was more about if setting this as a life goal is a good idea.

[Pheo]

Aluminati said:

A friend of ours bought in Umbria. Got lucky with a local girl who pretty much sorts out everything for not a lot of money.

Builders work at a different pace, but have done a decent job ( New kitchen/bathroom/rewire etc) we drive down a few times a year ( part of the enjoyment for me) and I love the place, Italian and Greek people are amongst the nicest there are, and we are currently considering buying there as well. With views like this, no brainier.

That is beautiful!

I do totally get what people are saying about how much time - as mentioned I would agree it’s not worth it right now, because we are too busy and wouldn’t make it out more than once or twice a year. But this isn’t really a plan for now; might take me 10 years to put all plans in place (I’m 37 now); it’s more about understanding the practicality and desirability of that plan. I think part of it would need to be figuring out how to adjust lifestyle - eg quit current job, start consulting / contract work including a remote element so that we could work from Italy for months at a time - otherwise I would get limited value (so will have to think about internet access!)