'Take into account too that if your home abroad is your second home you will need to make arrangements to pay any bills when you are not in the foreign country - lest you forget to pay and find you are cut off,' says Roy Bristow, marketing director of property web site www.newskys.co.uk. 'In most countries in Europe you can set up a standing order to pay local taxes, electricity and so on.'
If your neighbour is agreeable ask him or her to keep an eye on your property too. Local burglars will soon get to know which houses are 'second homes' and often empty. Similarly, the neighbour can keep an eye out for any repairs that may need taking care of, and will turn on and off the heating as needs require. If you don't have a 'local man (or woman) who can', there will almost certainly be a managing agent nearby.
Managing agents, invariably, are unlicensed and can charge what they like or however much you are prepared to pay for a service. Always negotiate a fee in advance. If you would prefer not to have any 'hidden or extra' charges, consider buying on a development where there is a monthly charge for all maintenance. The amount can be as little as £20 a month or as much as £150. Be sure to check what is and what is not included in the fee before you commit to buy.
Other miscellaneous costs to take into account, specifically if you have a mortgage against the second property, includes currency fluctuation and monthly repayment variations. If you have a mortgage in euros but are paid in sterling your monthly amount you transfer will fluctuate - up and down. The interest rate too may rise (or fall), leaving you with a greater (or lesser) payment each month.
Lastly, when deciding where to buy overseas, factor in getting there - and home. Do scheduled airlines fly there year-round? Does the cost of flying increase in the winter months? Does more than one airline fly nearby - if one goes out of business could you find it difficult to reach your home? Your homework done, it's time to play.
Why not see how far your money might go if you buy abroad? Search for your dream overseas property on aplaceinthesun.com
.jpg)
Amanda Lamb is on her travels finding you the ideal location for your new house
.jpg)
Your Comments
Post your comment
Please note: In order to post a comment you need to be registered and logged in to Channel 4:
Sign In Here or Register Here
Comments closed
Comments are closed at the present time
Comments
Thank you for your comment!
Your message will be reviewed and the best ones will be published below.
If you intended to make an official comment to Channel 4 please contact us.
Comments