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Finding/Owning French Property
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 06/05/2008, 21:26
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snapper
Joined on 03/05/2008
London/St Savin 86
Posts 5
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Re: Keep a house here or not?
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Thanks for all your replies - plenty to think over.
I did speak to a local estate agent here in London and he has similar properties to mine on his books for £800 - £900 and they were all nice properties so that was a bit disheartening as it would not leave much left over after paying mortgage etc.
My eldest says to hang onto the house, rent it and try living in France for 2 years then sell up if I still liked it there.
So I am still confused but I have a year and a bit before my youngest goes to uni so will be following this forum and researching and thinking.
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07/05/2008, 13:27
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P2
Joined on 13/09/2006
Posts 188
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Re: Keep a house here or not?
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Snapper - with your finances, they seem very lean and there are a lot of what ifs - what if there is not a tenant (and I would not listen to estate agents, after all they only want your property on their books and it is no loss to them if it does not rent). What if the £ v euro goes even further down, your £400 will mena a lot less euros.
If you are a risk taker and, it seems to me, a big risk taker then go for it. If however, you are the type that likes certainties then do not do it.
Plus remember interest rates in France are lower than the UK.
Plus, becoming resident in France and going to the UK for healthcare is not on. There was a programme on just recently and one trust in the UK chases those not entitled for money upfront. What about if you go this route, are then caught out and have a demand for payment of treatment previously received.
I as one who has had his early retirement to France plans firmly wrecked by the change in France most certainly do not wish to pay taxes in the UK to fund those not entitled to UK healthcare.
Paul
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09/05/2008, 10:18
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Ian
 
Joined on 04/07/2007
Posts 377
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Re: Keep a house here or not?
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The problem of being not quite well off enough to live off one's investments yet still too young to qualify for retirement benefits has traditionally been solved by the solution of getting a job.
This radical, though rather unfashionable idea, works well in both France and Britain.
Holiday and Property Guide for Nice and the Cote d'Azur
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09/05/2008, 18:15
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sweet 17
Joined on 05/08/2006
charente maritime
Posts 2,048
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Re: Keep a house here or not?
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10/05/2008, 10:42
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Ian
Joined on 04/07/2007
Posts 377
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Re: Keep a house here or not?
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"Snidey" ..... whoa there, easy tiger! It wasn't "aimed" at anyone.
It's just that when making financial plans most people do factor in income from jobs. And you are right, annual earnings do not need to be paid in twelve (or 52) equal sized installments ... but if it wasn't for jobs most of us couldn't afford to live as we do.
Now the forum can see you are earning (albeit irregularly) snappy... err, oops, sorry; snapper, then the well meaning and helpful advice that €400 a month is too little to live on becomes obsolete.
If you can afford it: keep the 2 houses (or more). Is it the best investment for your spare cash? Probably not. Is it a good hedge against the UK property market and a handy insurance policy should you wish to move back? Yes. Can a little piece of England act as an effective real-estate comfort blanket? Yes.
If you can't afford the 2 houses - sell one.
Good luck.
Holiday and Property Guide for Nice and the Cote d'Azur
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France Forum » Moving » Finding/Owning ... » Re: Keep a house here or not?
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