Buying property abroad

[richardmancunian]

Posted in here as I guess some people in here are experienced in this.

I am thinking about buying an old or newly built property abroad for investment and living in maybe 3 or 4 months of the year (I hate the winter in the UK) as part of an ex pat community which is not all OAP.

First thoughts are Costa Del Sol or maybe south Of France Or Canary Islands (hot all year round). I also want good value for money. Budget is flexible to suit small apartment to small house with pool.

I dont know the best place to start (Taylor Woodrow have a Spanish subsidiary company) and I dont have lots of spare time so I wont to use a reputable builder/ estate agent with reduced risk of things going wrong re land ownership, building rights etc.

Any tips from anybody re location, the research and buying process would be greatly appreciated.

[welshphill]

try Bulgaria, very cheap houses £4-5000, excellent weather (greece and turkey are it's southern neibours) been in europe for bout 4-5 years, easy jet flights now into 3 different airports there..

be aware of the scammers and quick buck merchants (mainly brits, the bulgarians are charming and generally honest people), i'd say best idea is to go there and spend a week or so travelling around (hire cars and hotels, food, everything, very cheap)the country, get a few companies to show you what they got and for how much to get a general feel of what's out there, but don't buy off them!!!

i went there last year and met loads of brits with good and bad experiences, let the companies show me they're houses and with-in my fornights stay, found through word of mouth,(connections and contacts/brits i had met)a very nice house in a area i liked and bought it (3,750€) before i left and now i'm about to spend most of this summer living in it and doing it up a bit with the help of some local (20€ a day) builders

[burriana]

I would advise against buying off plan.

Buy one that someone has already has all the hassle of the legalities and paperwork and building licences.

I know that some of the Polaris properties in Los Alcazares on the Mar Menor (20 mins south of beautiful Murcia, the same distance north of the even more lovely Cartegena) are dirt cheap now. About €300k for a large 4-bed rondela with a pool.

Golf course and 5* hotel also on the development.

But like I said - buy one already built and save yourself a lot of headache.

There are tens of thousands of bargains out in Spain as the property market is flat on it's back. Don't rely on a secure rental income either.

[matsmith]

burriana said:

I would advise against buying off plan.

Buy one that someone has already has all the hassle of the legalities and paperwork and building licences.

Iv bought in the south of france off plan, and its a much better experience than buying in the uk off plan

down there I had full specs on absolutely everything down to the bathroom taps before they had even demolished the building that was being replaced, and i was given guarantees from their bank that in the event the developer went bankrupt then the bank would pay for the remaining work to be completed etc

over here we just seem to have to accept what were given, and are given no guarantees about the developer

so although it wasnt the question, id just like to point out that in my experience buying in the south of france was a much safer and more pleasurable experience than when i bought my home over here off plan


I bought through MRI Overseas property, and would recommend them, but they seem to have cut back the number of countries they are in now

dont know if thats been of any use to you OP lol

[cardigankid]

Costa del Sol, get some sunglasses, a medallion, a sun tan and a Luger, and you'll be just fine.

[fulham911club]

If you are going to be there mostly during the winter then avoid the south of france. Trust me I know and its dreadful in the winter.