Hi there, wondering if anyone owns proprty in Europe, Italy or France specifically, and uses it as a starting point for their trips, and possiby as a rental in between. Is this a good/bad idea in the long run? Up/Down sides? Opinions? Any reference websites? If any Candians own abroad, I'd love to hear from you!
Just within the last month there was an US couple that want to buy and then rent property in Europe. I don't remember the General Heading but you may be able to use the search box. It generated a lot of discussion. If you can find it would address some of your questions.
We have friends with a cottage in Brittany. Wife is dual Canadian/British passport holder. Husband is US passport holder that just could his permanent visa so he no longer has to sweat the 90 day rule. Its a long way to go for your vacation house, but a couple of long trips a year to tend the garden and do a bit of touring. They keep an old Renault there named Lizzy that is allergic to Alpine mountain passes.
It depends on the country and sometimes region/city. Some have arcane laws that sill limit foreign real estate acquisition by non-residents (Switzerland), others impose fees on "holiday homes" like the stupid legislation recently passed in some German cities. In certain sought-after areas, you can't evict a renter without cause, meaning there are few "empty" properties lying around.
Contact a lawyer that has experience with Canadian/French legal background. Should give you a good background. A house becomes your vacation..not a hotel to jump off to somewhere else!