rocker Posted March 9, 2017 Share Posted March 9, 2017 Hiya all, Long time lurker here, maybe as long as 10 years. I've been battling for half that time to clear a lot of debt. And the other half battling to save a deposit. I've scraped together a fairly paltry £25k, which i'm sure, still isnt really enough to get one of these shoebox homes. I have always kept a bit of a eye on property abroad. I live in Poole, UK and visit France. It's amazing what a splash of water between land does to house prices, as there's a lot on offer in France. Anyhow, i'm on the cusp of being able to afford to buy a fixer-upper in France for cash if i wanted to, or i could try opening a French bank acct and do a 50% mortgage to keep some cash of my own to keep me going while i updated the property. (Or i can wait a little longer and bank a bit more.) My question is, if i bought a £20,000 2/3 bed property in France and fixed it up to increase its value - I think it would be time consuming to try and resell it in France, so would i stand to gain instead from remortgaging it, and then use that to have a bigger deposit for buying back in England. Or is this just a stupid plan? If anyone has any thoughts around this, or if there's a post somewhere here from someone who has managed it, i'd be keen to know if this is a go-er or not to bother. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted March 12, 2017 Share Posted March 12, 2017 Yes a silly plan, buy the French house and move to France? Quote Link to comment Share on other sites More sharing options...
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