Friday, April 10, 2009

Renovation project lured those seeking Spanish retreat


John, an NGO worker originally from the US, and his partner Anne Montague, a journalist, bought their home in rural Andalusia around 10 years ago. The house is owned jointly with a couple of friends, and it's unconventional in other ways. The finca-style property, surrounded by 14 acres of land, still has no electricity and water is supplied via a pump from a well. As such, it provides a refreshing antidote to the crowded, hectic and often stressful lifestyle in the UK.
The suggestion to buy a house in Spain jointly came from a friend of Anne's who had already bought and sold. The couple, with two small children at the time, thought it would be fun, and liked the idea of "a place we could go for years and years, where there would be lots of sunshine". Their search centred around the hinterland of Coin, just north-west of Malaga, an area which at the time was virtually undiscovered by outsiders.
After two weeks of driving up long dirt roads with the children sweltering in the back of the car, they were taken by their contact - a local woman who spoke English - to a house called Don Cristovita in a hidden valley, not far from the town of Alora. "As soon as we walked down the lane and saw it, we knew it was the one," says John. "It was beautiful, surrounded by wild flowers, even though it was clearly a wreck."An offer was made and accepted - they are reticent about the price, but John observes: "There was no real property market there; people were virtually giving away these ruins because they wanted to go and live in an apartment in the town." But then came disappointment: Anne and John's friends changed their minds about the purchase, and as they were unable to buy it alone, the purchase was dropped. A year later, and another change of heart, it was back on and fortunately the house was still available at the same price.
Buying was relatively straightforward, says John, adding: "It was fundamental that we had an estate agent who was able to explain all the costs, local taxes and procedures." Both Anne and her friend Polly, as the legal owners, had to register as non-residents with the local authorities.
The house itself really was a wreck. Although it had a traditional roof, this was made of mud and bamboo under the tiles, which they soon discovered housed rats. The rear portion of the house had been used to keep animals and was covered with countless years worth of goat dung. Part of the building had collapsed, only two rooms had tiled floors and there was no glazing in the windows. Apart from the rats, there were also bees and wasps nesting throughout the building.
Anne says: "We would go and camp outside the house while Polly and Philip braved the insects and rodents indoors. We cooked outside on an open fire, ate outside and washed up outside - it was pretty basic living and that was our children's only experience of a holiday! It's no wonder that when the builders came to do work on the property they took pity on us and built us an outdoor barbecue without us asking for it!"
A local builder was employed to do the renovation. The roof was replaced, floors and windows were installed throughout, kitchen and bathroom were put in and the collapsed section was rebuilt. They also had the outside walls plastered, terraces built and a water system installed.
It wasn't easy overseeing the work from 2,000 miles away, but in spite of a few 'surprises' along the way, John says: "Using a local builder certainly earned us a lot of goodwill."


The Lonely Planet Guide to Bulgaria


An enigmatic country at a very important crossroads in its history.
Images of cheap and nasty plonk downed at student house parties, budget ski holidays and umbrella-wielding Cold War assassins were once among the popular stereotypes, but Bulgaria today is a vastly different country from what it was even ten years ago - as more travellers than ever are discovering.
For most visitors, Bulgaria's main lure is its long sandy coastline, with its stunning beaches and bays - but there is so much more to see. Well-maintained hiking and horse-riding trails allow you to discover Bulgaria's lush landscapes, inhabited by wildlife now becoming


Turkey trip inspires self-build holiday villa


David and Denise had been toying with the idea of buying a holiday house abroad that they could also rent out, and Turkey immediately clicked. "It struck me that this could be a place to buy," says David. "Back in 1981 we went to Paphos in Cyprus when it was just a small town, and when we went back later it was like a new world. We could see the potential for the same growth to happen in Turkey; we could really see the Mediterranean coast taking off."
Back at their home in Hertfordshire, the couple started to look on the internet, and quickly identified the former fishing village of Kalkan as an up and coming location. They contacted a number of agents, and the following July went out for a flying three-day visit, with a number of properties to view. It quickly became apparent, however, that there was an opportunity to buy a plot of land and get a house built entirely to their own specification.
There was plenty of land to choose from, but David says: "We were aware that you had to be very careful where you bought. You could have this fantastic view over the bay one day, and then someone could simply build in front of you. The plot we found was at Kalamar Bay, and as well as having uninterrupted sea views that couldn't be blocked, the land on one side was green belt, and there were wonderful views of the mountains and the Lycian Way. "We also had to think about the fact that the area was sure to be developed on our other side, but I felt that it would be high quality because of the local restrictions that were in place, and I could see a really nice little community emerging," says David.
The company selling the plot, Mavi Real Estate, was also offering to build the house, but unlike some other agents this was not mandatory.


Off-plan Alpine home proves a picturesque investment


If you want to buy a ski apartment in the Alps, the chances are you'll buy off-plan, as the shortage of new development opportunities means most properties are snapped up well before new buildings are completed. Stephanie Crayford, director of a marketing business in the Home Counties, was looking to buy an apartment both as an investment and in order to enjoy holidays, when she was introduced by estate agency Savills to Larry Levine, founder of Alpine Homes International, a developer working in the Alps.She quickly became interested in Veysonnaz Chalets, a small development in the Four Valleys area of Switzerland. "I knew the area because I had been skiing in Verbier," says Stephanie, "and I was very attracted by the fact that they were offering a three year rental guarantee as well as six weeks annual usage, which meant that the property would basically 'wash its face' but I would still be able to enjoy it with my family."
She quickly became interested in Veysonnaz Chalets, a small development in the Four Valleys area of Switzerland. "I knew the area because I had been skiing in Verbier," says Stephanie, "and I was very attracted by the fact that they were offering a three year rental guarantee as well as six weeks annual usage, which meant that the property would basically 'wash its face' but I would still be able to enjoy it with my family."
In early 2005, she was flown out to Switzerland with a number of other prospective buyers to view the site and the area. "When we were there, there were just poles in the ground where they were going to build, but they told us the history of the area and the plans for the village."
Veysonnaz is a typical mountain village perched between the Matterhorn and Mont Blanc mountains which has retained a good deal of its traditional charm.
Stephanie also liked the price; her three-bed apartment in the Balcons de Soleil building was on offer for SFr 456,000 - approximately £210,000, which made it extremely favourable compared to similar properties in the French Alps. Its value has since gone up significantly, bearing out the belief that this would be a good investment. "I knew that Veysonnaz was up and coming, and they were going to invest in new ski lifts there. The price was very reasonable - at the time Switzerland was one of the only countries that had been experiencing property deflation," says Stephanie.
It was not the first time she had bought abroad; previously she had bought a property in France which had not proved a success, so she was anxious to get it right this time.
One selling point of the development was the high quality of the workmanship and the finishes. "The quality is very high and very robust. They build to last and it is reassuring to know that I won't have to do anything to my property for at least 20 years," says Stephanie.


 

©2009 Real Estate | by TNB