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Stick to the UK and what you know . There is a real mental burden to owning a holiday bolt hole abroad .You cannot relax fully when you are staying in it as you are still partially in investment / ownership mode and cant help worrying about maintenance and does the exterior need a lick of paint . Or the tap doesn't run freely and the carpet is a bit frayed and that annoys you and plays on your mind whilst you are just trying to chill and recharge your batteries etc etc.
Your mind should at this holiday time be in super relaxed mode and someone else should be worrying about fixing routine stuff . I took this decision about 15 years ago when I was thinking like you are now . I instead bought a boring dull ugly ex LA flat in a downbeat estate 5 mins from me . I wouldn`t holiday there in a million years but I call it my holiday flat . It cash flows about 5K a year and I can have a couple of lovely 2 week holidays for that in Spain if I wish without any cares in the world
Jonathan Clarke. http://www.buytoletmk.com
Stick to the UK and what you know - no question!Buying overseas is at far, far greater risk and you won't use your bolthole as much as you think!With sites like Secret Escapes you can have a long weekend away in a 4 star luxury marina yacht hotel in Gibraltar for £250.00 per person these days, so you can holiday somewhere different every trip if you like, without the commitment of owning somewhere in a foreign place that you might not fully understand and where you capital might be at high risk.Invest in the UK and use that money to fund your weekends away.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I've had a place in Spain, and friends have places across Europe, and we always feel we should spend as much time there as possible because we 'own' them, even when we really want to go elsewhere. The stress is high! Therefore, Vanessa's comment is perfect!
Invest in the UK. Investigate whether it would be best for your personal situation if you set up a Ltd Co. Try to avoid leasehold at all costs! Take a look at an auction... older properties may not look sexy, but they will probably still be standing in 15 years time!
Thanks for commenting Lou. What I find interesting on these TV shows is how people talk about friends and family coming to visit them and using their property.We have never had a single member of our family take up an offer to stay in our holiday lets free of charge, and they are in the UK!. It all sounds lovely, but I fear the reality is somewhat different when life gets in the way ....
I agree with Essex. Ideally, an hour, but any more than 90 minutes and you will find excuses not to go as the drive time will put you off.