@Leper sk of this as it has a higher level of unoccupancy.
From reading your post, I think the root cause for the negativity towards them is the fall in price rather than anything else. Maybe I am wrong here, but this is what I am reading into it. The other stuff, I would imagine, would have been considered to a reasonable degree before the place was purchased - although may have been higher than expected.
I guess that is key and the expectation around investment versus lifestyle decision. That said, its very hard to leave an asset unused at times which you could have people renting it, offsetting the costs associated to itI invested, I did not gain what I thought I would and lost more than I ever thought possible. **it happens, Lepers are not exempt. And unlike our banks I don't expect anybody to bail me out.
Might take you up on that at some stage in the future - but for now we have kind of agreed that its not really for us at the moment. We don't want an 'investment per se' and we would not use it enough in the early years not to try rent it out. But if we go down that route, we feel its neither an investment or a holiday home - so best not to bother.If I were having a pint with you and discussing the subject whether your kids are school-going or not or not matter how far forward you were planning your retirement, I would not recommend buying a holiday home abroad.
I'm actively looking at a fairly cheap two-bed townhouse in the Costas. I have a house in Dublin which I intend to let as a house share, and I plan to live in Spain for lengthy periods. It's cheap at around 70K, I guesstimate that the end costs will be in the order of just under 80 K and most of my time will be spent in fairly decent weather. The house share at home will cover the small mortgage, as well as allowing for maintenance, and I don't intend to let the Spanish property. For me, it is a personal decision. I don't have strong connections in Ireland, a friend already has a place there and we plan to move around the same time, so it is a lifestyle choice more than anything.
Where in Torrevieja (I hope NOT near the Lakes) ?
You have read the previous posts on holiday homes (where I advised "don't do it") and going ahead so good luck with your decision.
Where in Torrevieja (I hope NOT near the Lakes) ?
Recently, we took ourselves and our two kids on holiday and stayed in hotels for about 16 days.
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