While uncertainties in the Euro-Zone have made people a little more wary about purchasing a second home in a foreign country, there are still a lot of people that are choosing to take advantage of the exchange rate and pick up a second property in the area. If you’re shopping for a holiday home, why not consider one of the following destinations?
France is a popular destination with British buyers, and understandably so. France is easy to get to via plane, car and ferry. It’s a great place to visit with good food, nice scenery, and interesting architecture. Economically, buying a home in France makes sense too. The French housing market hasn’t fallen as badly as the market in other countries, and loans are available at 85% Loan to Value.
Spain is another popular choice for people looking at holiday homes. It’s possible to get some great deals at the moment, but you should investigate the seller carefully before you buy. Don’t be wowed by sellers showing off fancy patios, gorgeous pools and stylish oak doors. While all of those things might be nice to have, your internal oak doors will be worthless if your home ends up demolished because the cowboy developer didn’t bother to obtain a building license.
The housing market in the USA is gradually seeing an increase in prices, but they are a long way away from the highs of 2009, so now is still a good time to buy. While a house in America might not be as easy to get to as a house in the South of France, they’re still a good option for people that like to take longer holidays and are willing to shop around for budget flights.
Flights to Germany are inexpensive, and while Germany isn’t a tourist hot-spot, there are still a lot of nice areas to visit. The country is relatively stable economically, which makes it a good choice for people who are looking to buy a home as an investment.
If you are considering purchasing a house in Germany with a view to renting it out, be aware that the rules for landlords are far stricter in Germany than they are in the UK. Do your research before you take on any tenants.
Italy is a gorgeous country and a great place to own a holiday home. However, if you’re thinking of buying a home in Italy you should tread carefully. The economic situation in the country is difficult, and according to some reports the government is considering taxing foreign investors heavily.
If you simply must have a holiday home in Italy because you love the culture, wine and food, then you may not care too much about the money side of things. However, if your home is an investment as well as a personal retreat, then you should definitely seek professional advice before you commit to any long term spending.