Jack Posted December 18, 2006 Share Posted December 18, 2006 Hello all in forum land.I am currently purchasing a town house in Basse Normandie. My problem is that I was buying it with my partner to live there but we have now split. Along with the split my budget has now been halved, time scale reduced and I need to get a return as soon as possible. I cannot afford to pull out now or to resell immediately after purchase. I must now complete the renovation work on my own and quickly. I am an experienced and competent DIYer but I'm not sure of what I am allowed to do. What building regulations must I comply with? Do I need certificates for any of the work I complete? Where can I get supplies from and equipment for hire? I cannot either afford to live there either, so should I convert to holiday let, long term let or sell? In reality, I am a novice in need and will have to learn very quickly. Is there anybody out there prepared to spare some of their advice and experience? Is there a fountain of knowledge on the internet? Please reply. Link to comment Share on other sites More sharing options...
Dave&Olive Posted December 18, 2006 Share Posted December 18, 2006 hi ok I will have first crack at this, but just thought better. unless you have the funds to finnish the property , cut and run , there are loads of un finnished prodjects over here . think this, say you bought for €100,000 and then spent on it say € 50,000 and you did not finnish it , it could be worth less than what you paid for it when you run out of money, !! there is a, your words,a fountain of info on this forum , spend a few hours reading back posting , and if you are still set on it come back here and the only thing you will get is help....... dave Link to comment Share on other sites More sharing options...
David J Posted December 18, 2006 Share Posted December 18, 2006 Hi Jack,Based on your experience as a DIYer and not being able to sell imediately etc. Have you thought of getting another person ie family, relative or friend who would assist with your project and come up with an agreed sale split of capital injected from the hopeful profits?Justed a thought. David J Link to comment Share on other sites More sharing options...
cooperlola Posted December 19, 2006 Share Posted December 19, 2006 Do take what Dave says seriously. This forum (have a quick search - top right- you'll see what I mean), is full of people who have renovated properties and it's rarely truly profitable, the costs always turn out to be rather more than one might think. There's a thread here somewhere where some pretty serious and experienced people use the phrase "think of a number and double or even treble it!" I'll find it if I can.Herehttp://www.completefrance.com/cs/forums/794140/ShowPost.aspxThere are also some pretty hefty tax implications which you should look into. Link to comment Share on other sites More sharing options...
Russethouse Posted December 19, 2006 Share Posted December 19, 2006 >>>I cannot afford to pull out now <<<How far into the purchase are you ? Have you looked into the penalties and worked out whether you may be better to cut your losses ? Link to comment Share on other sites More sharing options...
Cassis Posted December 19, 2006 Share Posted December 19, 2006 Sounds more like you can't afford NOT to pull out now before you get deeper into financial schtuck.How much deposit did you pay? Link to comment Share on other sites More sharing options...
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