If you had 100k inheritance, that you wanted to invest in a holiday home abroad, at least two bedrooms

[TheGingerCatsWhiskas]

Where would you look ? Ideally two bedroom, a balcony or sit our space and a sandy beach

Agree with the people saying just keep the money in the bank. And you're only going to get a shanty shack for that in most places. As a pp said, I wouldn't want to go on holiday anywhere in a holiday home that had cost £100K!

Once you buy it you're stuck with it and can't go anywhere else. Do you not like to travel a bit?

I have also known a number of cases where the land and property is taken over even though you bought it, and a small amount given in compensation that is barely a quarter of its value. So they can build on it (usually blocks of flats, taking away your sea view or mountain view.)

It doesn't happen as often as it used to to - these Land Grabs - but there are still huge risks in buying property abroad.

I would never buy a holiday home in another country. Not sure I'd be too keen on buying a home in another country to live in either. There are so many risks. There are other laws that can enable them to take your property/force you out if they decide they don't want you there any longer. (Even if the Land Grab is not used so much now.)

There is also often a lot of hostility from the locals, (aimed at people from other countries who buy holiday villas.)

Much better idea IMO to buy a holiday place in the UK and go on holiday in Air B & Bs and hotels and caravans etc. I just reaaalllly wouldn't do it.

This place is funny sometimes, the opening post is everything. If she came on here and said ‘ I just inherited 100k, so have decided to spend 10k on holidays every year for the next 10 years and really have a ball with it’ she would have had loads of comments saying ‘ you are frittering away the money’

Look up the programme ‘cheap European homes’ and take your time. All the best x

Well of course she would have had comments like that. Wasting £10K a year on a holiday for 10 years in a row (spending £100K on holidays in 10 years) would be a huge waste of money. That's not a very good example.

I was going to suggest HPB too 😎

Depending if you need to travel during school holidays, put in £10 - £30k and invest the rest in the stock market.

Personally I think some of the responses have just been mostly about envy. There is a strange British thing about being envious of what others have. (I' not from the UK originally, and we have a similar thing as well). But the posts around the lines of the Op is a disgusting person stealing homes from locals etc is a theme in various forms all over MN. How DARE people spend money on private schooling. How DARE people be upset because they have been shafted financially by something or someone. How disgusting someoneis to want a second home somewhere in the UK or elsewhere. Even on the thread about premium bonds posters pop in to berate people for having spare cash to put into premium bonds.

We had a motorhome for a few years but sold it because we just weren't using it enough to justify the cost. They're expensive to keep and maintain - CASSOA storage, insurance, servicing (engine), servicing (habitation), tax, MOT and hefty fuel costs. Obviously less if it's a smaller van conversion, though they're easy to steal as several people I know have discovered.

France is really well set up for campers - many villages have free sites. If you want facilities, prices have definitely increased since covid, particularly in the UK. Ferries are expensive now for larger motorhomes too, as are road tolls.

The other big cost to factor in is the depreciation.

£100K will buy a lot of cat bowls, kitty food and knitted mice at The Cats Protection.

Cats don't do holidays very well as they are creatures of routine & habit and like their favourite spots.

You can buy lovely homes in France, and parts of Italy for the OP's budget.

A random example:

https://www.leggett-immo.com/acheter-vendre-une-maison/view/A23604CWN87/maison-a-vendre-a-saint-hilaire-la-treille-haute-vienne-limousin-france#tab-visit

That could easily be negotiated to within the budget ( that part of France is unusual to offer anything like full price).

Or

https://www.leggett-immo.com/acheter-vendre-une-maison/view/A45070KA87/maison-a-vendre-a-oradour-sur-vayres-haute-vienne-limousin-france

https://www.leggett-immo.com/acheter-vendre-une-maison/view/A36890MKE23/maison-a-vendre-a-ladapeyre-creuse-limousin-france#tab-visit

If that's the lion's share of your budget I honestly wouldn't bother. You'll end up somewhere like Bulgaria, Albania or Montenegro which will be an administrative nightmare and you'll be in a town with crappy infrastructure and poor planning regulations, that you'll grow sick of very quickly indeed. And anywhere that has access to a shared pool and decent shared facilities will come with hefty management charges which could shoot up at any time and there's nothing you can do about it.

You won't make any money and you'll soon tire of going to the same resort over and over again. You can rent bog standard apartments in most holiday resorts pretty cheaply outside of July and August and be free to visit as many different countries as you like, without any risk to your capital or any horrible shocks like a change in tax laws for non-residents, local government corruption, poor or non-existent management/maintenance of the development you've bought into, or a massive property slump that affects the value, meaning you can only sell at a loss.

I have a second home in a European country, my own garden and pool etc. It's always been very much a second home, furnished and equipped to suit us personally, not a generic 'holiday' home. We love it, but the money it's cost us to maintain it, furnish it, pay the local taxes, have a local caretaker and pool cleaner and someone to keep on top of the garden when we can't be there etc, has been huge. When we eventually sell it (had it 10 years now) we will probably have made a substantial loss, all things considered. When you look at what it's cost us broken down per year so far, we could have several incredible hotel or villa rental holidays per year for that money, and none of the associated hassle or risk of a second home in another country.

But my house does at least feel like a real home. I can fully unwind and have all my own stuff around me. I potter in my garden and indulge my hobbies. Whereas plonking myself down in a pretty generic looking flat that looks identical to hundreds of others in the area, in a town where there are six restaurants and four bars and each visit feels identical to the last seems profoundly depressing to me.

I agree that some more negative posts are borne out of envy, (many are not though,) and that's not happening on this thread. It's ludicrous to suggest that anyone who isn't saying 'yes do it, blow your £100K inheritance on a cheap old villa in Spain!' is 'envious.'

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Errr, are you suggesting that the OP gives her entire £100K inheritance to Cats Protection? I love cats and would give some of the £100K to then, but maybe £5K, not the entire lot!

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She'd have certainly had a lot of posts telling her to invest it and use the annual profits to go away with though. Just like on this thread. Almost like it's good advice...

Yes, that's a fairly odd take. MN can certainly get weird about money, at both ends. But OPs proposal is at best a bit dubious, and given the demographics of this board there are probably a lot of posters who could lay their hands on 100k for a holiday property if they really wanted to.

@BearPear thanks for your response. That's amazing- 15,000 miles in 2 years! Excellent. I was wondering if you'd say just a couple of thousand. I love the idea of being able to do your own thing, staying wherever you fancy.

We've done a lot of camping in the past so used to camp sites. I think the bit that concerns my other half would be parking a long(ish) vehicle. And manoeuvring around small places.
Thanks so much. definitely giiiving me food for thought. We've got a bit of a health issue I have to overcome really so need to keep my feet on the ground but it's lovely to know you're enjoying it and presumably recommending it. Best wishes x

@cookbookjunkie

It really depends on whether you rent it out and what the rental income is.

Our rental income more than covers all property and pool costs including staff.

While we invested money in it to enable us to rent out at a high level, the rise in property value has more than covered that.

Why not? Live frivolously. Just think of all the happy kitties.

Also it saves faffing around with buying a property in a foreign country, different laws, red tape, stress, foreign taxes, unfriendly neighbours, etc.

Oh do stop with this cat mania . Not everyone feels as you do about cats.

I would love to be able to give £100K to Cats Protection (and the Dogs Trust, and the PSDA, and a couple of hedgehog rescue places I know of,) but that kind of money would be life changing for me (and DH.) We could probably retire 3-4 years earlier, or I could pay off both my DC's student debt and make their lives a bit more comfortable. But I wouldn't give the whole £100K to Cats Protection, (or any charity actually!) unless I had got at least half a million in savings (in addition to the £100K.)

I think that's the point isn't it? There are price points at which a holiday home abroad can be a good investment, but 100k when you've no personal or language connection to one of the cheaper holiday areas isn't it.

This is what I would do. My experience of trying to sell my parents holiday home and get the money once they got too old to spend winters in it has massively put me off. Huge amount of hassle. They got good use out of it but could have had a lot of holidays in hotels for the same money.

Well yes but equally a flat that doesn’t require a lot of upkeep or staff is more economic to run.

Eg the flat I linked in Arles. Not that likely to devalue over time and Arles is popular tourist destination so highly Airbnble.

There’s different kinds of investment - property value increase vs cheap holidays for 20 years. At this pricepoint OP doesn’t have the funds to renovate and make money that way, but a bolthole for low cost holidays is valuable.

The OP is NOT asking if you would invest.
They are asking WHERE you would buy.
Please keep it relevant

I know this is not what you’re asking…. But we had a holiday home that was “passed down” and it was a mill stone. Your average person below retirement age especially parents, can’t go abroad more than once maybe twice w a year with costs, annual leave, school term etc. you feel obliged to spend every holiday in that one place rather than seeing new places, and maintenance from afar if really stressful.

if you are set on it, proximity to future-proofed transport options would be a priority for me.

@FirstdatesFred I know this is not what you’re asking…. But we had a holiday home that was “passed down” and it was a mill stone. Your average person below retirement age especially parents, can’t go abroad more than once maybe twice w a year with costs, annual leave, school term etc. you feel obliged to spend every holiday in that one place rather than seeing new places, and maintenance from afar if really stressful.

Exactly! The idea, and the 'dream' of a holiday home is not as exciting as it sounds (in reality.) In fact it soon becomes more trouble than it's worth. I think the OP would be much better off investing the money somewhere else. (Paying off her mortgage, or putting it in a high interest savings account.

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