Buying Property in France (Nice) - a few questions
Discussion
Hi all
Not sure if this the correct sub forum or not for this thread?
We have been holidaying around Nice (both centrally and around Villefranche & Beaulieu) couple of times a year for 10+ years.
We are thinking of taking the plunge and buying something that we can holiday at and then let out a bit (short term lets). We don’t ‘need’ the income per se but it would certainly be good if we could cover the running of the place and have a few quid to spend when we are out there.
As context we’d be looking at trying to get a 2 bed with a decent size terrace in one of the aforementioned areas.
The query I have is around the costs to run the place and then the tax on any income generated from renting it out and if this can be used to offset the aforementioned.
I have read into this a bit, but before getting more technical - does anyone have any experience?
Weighing this up against something in Anglesey which probably makes more financial sense but just doesn’t have the weather) posting from Nice airport on the way home now.
Cheers
Not sure if this the correct sub forum or not for this thread?
We have been holidaying around Nice (both centrally and around Villefranche & Beaulieu) couple of times a year for 10+ years.
We are thinking of taking the plunge and buying something that we can holiday at and then let out a bit (short term lets). We don’t ‘need’ the income per se but it would certainly be good if we could cover the running of the place and have a few quid to spend when we are out there.
As context we’d be looking at trying to get a 2 bed with a decent size terrace in one of the aforementioned areas.
The query I have is around the costs to run the place and then the tax on any income generated from renting it out and if this can be used to offset the aforementioned.
I have read into this a bit, but before getting more technical - does anyone have any experience?
Weighing this up against something in Anglesey which probably makes more financial sense but just doesn’t have the weather) posting from Nice airport on the way home now.
Cheers
RichDS said:
Hi all
Not sure if this the correct sub forum or not for this thread?
We have been holidaying around Nice (both centrally and around Villefranche & Beaulieu) couple of times a year for 10+ years.
We are thinking of taking the plunge and buying something that we can holiday at and then let out a bit (short term lets). We don’t ‘need’ the income per se but it would certainly be good if we could cover the running of the place and have a few quid to spend when we are out there.
As context we’d be looking at trying to get a 2 bed with a decent size terrace in one of the aforementioned areas.
The query I have is around the costs to run the place and then the tax on any income generated from renting it out and if this can be used to offset the aforementioned.
I have read into this a bit, but before getting more technical - does anyone have any experience?
Weighing this up against something in Anglesey which probably makes more financial sense but just doesn’t have the weather) posting from Nice airport on the way home now.
Cheers
Can’t help with the tax side of things. Running costs will of course depend on the size of it etc, but I’m sure googling can give you a rough idea.Not sure if this the correct sub forum or not for this thread?
We have been holidaying around Nice (both centrally and around Villefranche & Beaulieu) couple of times a year for 10+ years.
We are thinking of taking the plunge and buying something that we can holiday at and then let out a bit (short term lets). We don’t ‘need’ the income per se but it would certainly be good if we could cover the running of the place and have a few quid to spend when we are out there.
As context we’d be looking at trying to get a 2 bed with a decent size terrace in one of the aforementioned areas.
The query I have is around the costs to run the place and then the tax on any income generated from renting it out and if this can be used to offset the aforementioned.
I have read into this a bit, but before getting more technical - does anyone have any experience?
Weighing this up against something in Anglesey which probably makes more financial sense but just doesn’t have the weather) posting from Nice airport on the way home now.
Cheers
We have just built a place in Croatia, so just a couple of general points that may be helpful:
Think about what people want to rent (area/distance from shops or beaches/pool/en-suites/distance from airport etc etc. check out Airbnb etc for ideas of all of the above plus prices.
Uk tax- if you have a 2nd home (even if abroad) it will bring up issues of increased stamp duty when buying a UK home I believe.
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