Buy European city?

Old Apr 27th, 2007, 09:23 AM
Join Date: Jan 2003
Posts: 4,699
I know Fodorite Lutece and her husband bought an apartment in Paris and rent it out thru VRBO when they are not there. They did quite their jobs and move to Paris a little over a year ago with the understanding that they will return when the money runs out!
sandi_travelnut is offline  
Old Apr 27th, 2007, 09:50 AM
Join Date: Mar 2007
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The difficulties about owning property abroad are the same ones encountered owning property at home. Plus absentee issues, legal questions, and all the others listed above. But to say they are insurmountable is just negativism.

There are PLENTY of books about buying and owning property abroad, most concerning specific countries.

I'm far from doing so, but in response to OP Kenav, I think about it often! In daydreaming moments, and also surfing the web, looking at properties - both fixer-uppers and "move-in-ready".

If I had the money, I might do it. I would spend some nice long visits in a place first, though. I know that a "nice place to visit" is not necessarily the best place - for me - to live.

Friends of mine recently bought and renovated an apartment in Buenos Aires. Neither of them speak Spanish! But they found an apartment there that is the dream place they wish they'd bought in Paris 20 yrs ago, or in Rome 10 years ago ... the prices in BA are about 10% per sf compared to NYC.

Will it turn out to be a good investment? It remains to be seen ... They may start renting it as a vacation place (and contrary to what was said above, there are many excellent agencies) and even trading it - it is absolutely possible to trade a place in one popular destination for the use on someone else's home or vacation home elsewhere.

It's the kind of adventure that anyone who has read Under the Tuscan Sun or A Year in Provence or any number of other books has considered. The pitfalls are obvious, but the dream lives ...
tomassocroccante is offline  
Old Apr 30th, 2007, 05:33 AM
Join Date: Apr 2007
Posts: 11
To Michel_Paris,

You do not have to feel like you MUST go to Paris for every vacation if you have an apartment there (or wherever else you end up buying a property in France). Why not home-swap? If you feel like spending a month in some other part of the world, find somebody who is willing to swap their house in city X for your home in France. You already know there are home exchange sites, and if you are willing to rent out your apartment, then you will have no problem having a stranger in your apartment in any case. Just a thought.
ClaraS is offline  
Old Apr 30th, 2007, 05:41 AM
Join Date: Oct 2006
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I might answer that for Michel. Assuming I owned an apartment somewhere other than where I lived and it was being used by others (as rental or trade), I can't imagine not going at least once a year to check it out and make necessary repairs or upgrades. You might have an agency handling necessary repairs, but that doesn't guarantee keeping it up to date.
And the real point was that Michel said he WANTS to spend time in France.
NeoPatrick is offline  
Old Apr 30th, 2007, 12:29 PM
Join Date: Apr 2007
Posts: 11
Point well taken, NeoPatrick. I would certainly want to check up on the place, as well as wanting to spend time there if I had a second home. I mean, why else would you buy a place to begin with, right? I was replying more to the interchange between SuzieCII and Michel where she mentioned feeling obligated to go where your house/apartment is rather than "going to Thailand". I think it is a common feeling for people who consider buying a vacation home that they would feel like wasting money on lodging if they went anywhere else other than the vacation home, and I was just addressing that, that's all.
ClaraS is offline  
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