10/11/2015
What Would I Buy as a Property Agent?
Jan 2022
Many people over the years have asked me
Where would you invest your money in overseas property?
It is an interesting question and in many respects the property I own helps me answer that question
Firstly, it has to be a city, town, region and country which I understand and love.
I suppose this is the easy bit but as many have found to their cost the hard work begins after this selection.
A checklist is probably a good idea to narrow your options. I tend to think the following are quite important
Do I need an income from my purchase to cover all my annual costs?
Do I enjoy the ‘buzz’ of a good community or is ‘splendid isolation’ my thing?
Can I afford the annual fees?
Are all access routes likely to remain open in the years to come ?(i.e. don’t rely on Ryan Air to be your carrier of choice forever).
Do I want to spend upwards of 5 hours in the air reaching my homes nearest airport?
Having looked at this shortened checklist again I suppose my purchase of a small apartment on the quayside in the Languedoc was quite a reasonable investment on the basis I bought with my heart within 2 hours on a sunny harbour side on a beautiful spring day in southern France.
Interestingly it has made me realise the importance of what other people are looking for in a property to rent or buy.
The increase of the wealthy mature demographic has thrust my small apartment into the forefront of properties people want to rent. While my wife and I enjoy several trips a year to the property we sleep easily knowing we are making in excess of 6% net per annum on rental income
Of course we have been fortunate in finding a great property manager but the key is location. Within 100 yards of 30 resaurants and a stunning harbour. This seems to be what people are looking for.Annual fees are low as there is no swimming pool, lifts to breakdown, spas and hot tubs to maintain.
Over the years I have been asked by distressed owners to sell properties that have similar things in common. These are
hey are too big to maintain. How many times have you seen couples drooling over large homes on property TV channels?
Annual fees are often larger than the average mortgage. Someone has to maintain that large pool and spa
Owners did not realise their property would be impossible to reach after the summer had ended or if they could it was far too expensive to travel.
Rental income was poor . Ask yourself is there enough nearby to attract customers. And is there to much competition from other owners?
Of course you may be lucky enough to afford whatever you want but as a property agent nothing is as sad as having to sell a property for much less than it was purchased for.
So think hard what you are seeking and keep some of the basic questions in mind while searching. It will undoubtedly be worth it should you ever decide to sell your dream home
Oh yes and where did I buy - Check out Marseillan in the Languedoc.
