honest opinions please

[thetallfairy]

so the dream has been to buy a place in Paris and hopefully spend a lot of time there when I retire

I have seen a lovely studio
255 000 euro

it would be 1100 euro a month for the mortgage over 20 years

I dont know if it would be easy to air b and b it for 90 days a year and if so could end up covering a lot of the rent

this is a dream

but am I being crazy to go ahead

fees are obv 10k on top of that

air b n b may need the whole building approval?

I have lots of relative who would want to use it too

a cousin who would like it for a month per year at least

it is in a good central location
metro 15 min walk
nice area

but the hesitation is thinking about the what ifs....

what if there are bad neighbours
what if some months I cant cover my payments etc
what If the insurance is so high
or the place is freezing cold each winter??

There is a lot to look at

We once looked at buying a house abroad, actually also in France but the countryside

Is too much of a hassle though it was a lovely dream

also, can you get a 20 year mortgage at this point?

what is making you want to do this OP?

im not judging - just wondering

my mum bought a place in Tuscany near Siena not speaking any Italian and not even having use of the internet!!!! so it can be done.

I did a lot of the sorting out for her though nad dealign with things

@youalright Exactly. I emigrated by accident 26 years ago and have always worked in tourism, catering, hospitality, transport, you name it but by far, the worst gigs were dealing with holiday letting property.

In any capacity. Big villas, small studios, anything in between.

Sometimes it wasn't the guests' fault at all. Misleading descriptions of the accommodation, weird photos.

A door handle that has to be done, "Like this."
A toilet flush that had to be handled, "Not too brusque."

Don't involve yourself in it all OP.

And that, is my honest opinion.

Did you say you need to get approval from the neighbours in the building to use it as a holiday let? If so.., that’s the reason is reasonably priced, you will never do. It is a nuisance they don’t want to bring to their door.

Is the cousin going to pay you to rent it out and the other relatives. Would this be enough to assist without risking letting it out.mA friend let out her holiday home and it was so much hassle she just stopped doing it,within the UK.

Did you say you need to get approval from the neighbours in the building to use it as a holiday let? If so.., that’s the reason is reasonably priced, you will never do. It is a nuisance they don’t want to bring to their door.

Exactly.

Nobody wants an Air B&B flat in their block.

Sounds like a lovely dream, but totally impractical for you!

If you've got the money to buy then you've got the money to take holidays there for years to come, without the stress and worry (and expense) of owning property. With "remote" property, whether it's empty or let there's always worry that it will be damaged, broken into, or needing repairs while you're away. When you come to sell, will you be able to sell at a profit? Will you be able to sell at all? Will it become a millstone around your neck?

Only you can assess what, on balance, is the best way forward.

well that is so helpful

thank you !!!!!

good to know that

very good point there

thank you !!!

that's the worry

first world problem

grew up with nothing so always the fear that I will lose a lot of it

and can you blame them
why should they!!!!

so it would then be for my family friends and a relative who would stay one month per year but I cant see him paying much to use it

so falls on me for insurance, mortgage, repair, fees, the list grows

I cant see him paying anything really

my fear exactly

I think air b n b for a few weeks throughout the year is prob best

been a dream for I would say 20 years
but I am also a bit unaware of the putfalls

so prob a crazy dream

yes they said I can

aiming to retire early

I have pets so how would I ever get them over to me
hmmmm

yes that is what I am thinking now

sad to hear that

can you imagine all the hassle of this

so helpful

I think a few weeks in an. air b n b per year is possibly the best way forward

.