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Forget Buying Overseas, Rent Your Way Around The World


soldintime

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HOLA441
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HOLA442

The only real drawback I can see to renting your way around Europe or the world is that you have no roots, so what happens about things like healthcare, tax, or do you keep an address with perhaps family back in your home country that can be used for such mundane (but utterly essential) things?

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  • 4 months later...
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HOLA443

The only real drawback I can see to renting your way around Europe or the world is that you have no roots, so what happens about things like healthcare, tax, or do you keep an address with perhaps family back in your home country that can be used for such mundane (but utterly essential) things?

* Healthcare = Pay for private healthcare. Your NHS is funded by your national insurance premiums on your income.

* TAX = If you do not stay long enough or use certain tax laws in other countries you can earn tax free or low tax income.

* Roots = That is different for each individual. You could always visit your family and friend 2-3 times a year to keep the roots going. But roots can also hold you back from experiencing cultural diversity and friendships that new places bring.

* Address = You can always keep an address in UK for things like bank accounts etc. To keep these going if you ever plan to come back. Now mostly everything is done via internet.

* UK Number = You can take a UK phone number with you via various providers be it mobile or fixed.

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HOLA444

* Healthcare = Pay for private healthcare. Your NHS is funded by your national insurance premiums on your income.

* TAX = If you do not stay long enough or use certain tax laws in other countries you can earn tax free or low tax income.

* Roots = That is different for each individual. You could always visit your family and friend 2-3 times a year to keep the roots going. But roots can also hold you back from experiencing cultural diversity and friendships that new places bring.

* Address = You can always keep an address in UK for things like bank accounts etc. To keep these going if you ever plan to come back. Now mostly everything is done via internet.

* UK Number = You can take a UK phone number with you via various providers be it mobile or fixed.

Are you still in Andorra? Year 3 of your 5 year rental?

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HOLA445
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HOLA446

I moved house. So back to year 0 on the 5 year rental contract. Still like it here. Looks like there is enough snow already to start the ski season on 30 November.

Andorra must definitely have something, as you are spending so much time there when you could be anywhere.

I'm tempted to do the renting around the world and am now free to do it. I just wonder if I might be too isolated doing it on my own. Any like minded HPCers want to split the costs?

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  • 3 weeks later...
6
HOLA447

Andorra must definitely have something, as you are spending so much time there when you could be anywhere.

A growing family means I have to stay put. I did end up in a place where renting has significant financial benefits compared to buying.

Renting your way around the world is great for people with:

* Internet based jobs / businesses - you need to be flexible

* Retirement income

* No kids or very young kids (so no school restrictions apply) - you can get around this with home schooling.

With a housing glut in many countries, renting gives you flexibility to move around plus also a cost advantage over buying.

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  • 4 months later...
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HOLA448
  • 1 month later...
8
HOLA449

Just came across this thread what a great idea, but what do u do for income whilst abroad?

I would love to travel around europe renting a different place every so often, my work is computer based so in theory it could be done from anywhere, no need to sit in a UK office hearing muppets discuss buying houses and wats happening in the soaps lol.

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HOLA4410

Just came across this thread what a great idea, but what do u do for income whilst abroad?

I would love to travel around europe renting a different place every so often, my work is computer based so in theory it could be done from anywhere, no need to sit in a UK office hearing muppets discuss buying houses and wats happening in the soaps lol.

No one can really answer that for you. Nothing that makes you come too much under the jurisdiction of the local economy, in my opinion. Something that ticks over back in the UK in my view, where we're familiar with laws, tax system etc, but which can be overseen from abroad.

Bit morbid - I knew he rented it. (the villa)

http://www.dailymail.co.uk/news/article-2598074/British-businessman-dead-luxury-Spanish-villa-two-shots-head-police-hunt-ex-lover-allegedly-fled-Hummer.html

Price: €3,000 (App. £2,609) per month

http://www.thinkspain.com/spanish-property/823239

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HOLA4411

that is the hard part, in theory i can do my current office job from anywhere as long as i have a broadband connection. However Uk isnt ready for mass working from home yet. I will look out for a home based opportunity.

My partner is just watching a programme on illegal homes on spanish tv, sounds like a complete nightmare buying in spain even for the locals but i am tempted by their cheap rentals and better tennant rights

ps would you chuck a woman who looked like that even if she was a bit mad in the head?

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HOLA4412

that is the hard part, in theory i can do my current office job from anywhere as long as i have a broadband connection. However Uk isnt ready for mass working from home yet. I will look out for a home based opportunity.

My partner is just watching a programme on illegal homes on spanish tv, sounds like a complete nightmare buying in spain even for the locals but i am tempted by their cheap rentals and better tennant rights

ps would you chuck a woman who looked like that even if she was a bit mad in the head?

Agree with you about the tenant rights in a few countries - from my basic understanding. That has appeal, as does possibility of agreeing a fair rental price.

Perhaps you can set up something else in the UK, away from what you currently do, or associated to it - which has the prospect of earning more - whilst simple enough to manage from overseas. Without capital to ease a time of renting abroad, I think you need your own UK business (accountant / pay tax in UK etc). I can't think of anything to suggest to you though.

He had a new girlfriend it seems. Former foxy girlfriend should have known, without a ring on her finger... DTA. There's always more ladies wanting to be your girlfriend when you have money. They don't come running for jumbo-mortgage holders.

http://www.dailymail.co.uk/news/article-2599519/Ex-girlfriend-British-millionaire-murdered-Spanish-villa-shotgun-caught-four-days-run.html

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HOLA4413

No one can really answer that for you. Nothing that makes you come too much under the jurisdiction of the local economy, in my opinion. Something that ticks over back in the UK in my view, where we're familiar with laws, tax system etc, but which can be overseen from abroad.

Bit morbid - I knew he rented it. (the villa)

http://www.dailymail.co.uk/news/article-2598074/British-businessman-dead-luxury-Spanish-villa-two-shots-head-police-hunt-ex-lover-allegedly-fled-Hummer.html

Price: €3,000 (App. £2,609) per month

http://www.thinkspain.com/spanish-property/823239

Holy cr@p that is not a place a would want to rent. Great find though..

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  • 1 year later...
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HOLA4414
  • 9 months later...
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HOLA4415

Update here. With zero percent interest rates for the foreseeable future and a deflationary environment like Japan had for 25 years to be the new norm. I expected this as I have the word deflation in my profile for the last 10 years on this forum. It is starting to make sense to buy property instead of renting it. I am also more grounded than ever with my kids.

I am still a sharer though, so will Airbnb my house, do home exchanges or house sits. My kids have 18 weeks school holiday so there is plenty of time to enjoy other areas. Since I have started this thread 8 years ago the sharing economy has grown tremendously. Rent or renting out long or short term is all about sharing and having flexibility.

The world is your oyster.... 

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  • 3 years later...
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HOLA4416

Here an update after 3 and a half years of no posting on this threat.

I am still renting and gosh did I travel the world. I decided the take kids out of school and home school for two and a half years. Rented in Bangkok, Hoi An, Ho Ch Minh City, Tuscany plus did lots of travel. Back in Andorra again. I would not have done all this if it was not for the flexibility of renting and AirBnB providing so many short term rental choices, which can be reasonably cheap outside school holidays.

 

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HOLA4417
  • 2 years later...
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HOLA4418

Here another update after two and a half years. I still see that house price crash is going on strongly, I can't believe I have been a member since 2005, time flies.

I have left Andorra for good in the covid times. Prices for rentals went nuts as everyone wanted bigger properties and there was a massive influx of wealthy expats that want to escape higher taxation or future higher taxation. This meant that rental prices for properties here have doubled or tripled in the last 5 years. This is the downside of not being invested by having purchased a property. My mistake.

With this in mind I had set out to a to have a low tax base somewhere else with rented accomodation and buy a home in Italy, the country I love the most, to stay in the warmer months. With most housing in southern Europe and a market more geared to short term tourist rentals, rental prices get high in holiday season. Hence why purching a house that you will use 4-5 months of the year makes sense.

Italy seems complicated to buy I found out, and I have not succeeded so far, but I will try. As for the other 7 months I will rent in Koh Samui Thailand. I am using the retirement visa for over 50s. Thailand is just starting to recover from the tourism drop. It will take 4-5 years to be back at pre pandemic levels. So here you can find good deals.

I am actualy keen to leave europe with the energy bills that are coming for the winter period. Plus I have a feeling next summer I have a bigger chance of landing a bargain in Italy.

 

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HOLA4419

Incredible thanks for sharing! Any plans or do you do most of this on a whim? Are the kids in school or learning online?

On 8/30/2022 at 1:21 PM, soldintime said:

Plus I have a feeling next summer I have a bigger chance of landing a bargain in Italy.

🙄 I second that, Italy looks very week economically. The worst, possibly, of a bad bunch. 

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  • 1 year later...
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HOLA4420
On 05/09/2022 at 22:25, Data Dave said:

Incredible thanks for sharing! Any plans or do you do most of this on a whim? Are the kids in school or learning online?

🙄 I second that, Italy looks very week economically. The worst, possibly, of a bad bunch. 

How a year changes. My initial plan to rent in Thailand and buy in Italy has been turned upside down. I initially went for 5 months to Thailand but ended up there for 10 months and with 2 properties purchased. I found myself in Thailand at the start of the tourism recovery and the tail end of the Covid-induced downturn in property prices in tourist areas. Prices were cheap. I also noticed a demand for long term rentals, due to people migrating for cost of living reasons, conflicts, or lifestyle change reasons. Combined with a quick sales process and low purchase costs it was like a no brainer. 

Whereas Italy seems to have a lot of old and energy inefficient houses available. I decided to use ChatGPT to help with my Italian research and quickly I found some very useful sites. In the area I was looking at I found historical data on price per m2 and rental prices per m2. I quickly calculated that rental yields were only 4%. Now throw in round trip cost (buying and selling) of about 15% (when you buy the house as a non primary residence) plus additional property taxes you pay as a non primary resident and the yields go to below 3%. In my opinion this makes it a terrible investment. Throw in the EU energy directive that from 2030 all houses need to have a minimum energy rating of E and by 2033 D, and I see no case for property appreciation, more likely the opposite. Italy is also close to another sovereign debt crisis. It is better to rent and stay flexible.

As for homeschooling my kids do myonlineschooling.co.uk an IGCSE based online program. However, I think the future is in AI based programs like https://www.synthesis.com/, it is like having a one-on-one math teacher.

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