Reply To: Warning from Moneyweek!

#94200
katy
Blocked

Currency is always a risk though, especially right now. Whatever/whichever way I do a transaction it always works against me. Supposing someone sells at 200,000 to a Brit taking today’s rate (1.105). Transactions take at least a month, by the time the cash is received the rate could be 1.205 (or more). If changing into sterling the difference is about £15,000.

One property we bought in Spain we decided to leave the money on high interest in sterling until near completion. Peseta had been steady for a couple of years…the Pound dipped! Purchase cost £8000 more than planned and that was when 8000 was a lot of money. 😆

6 months in each country is ideal, many of our friends do this, returning to Spain at the end of october. They do seem to be the most well-balanced ones. Myself, burdened 😉 with 2 cats and 2 dogs. Was an expensive journey through France with the dogs and an £850 flight for the cats…..ok. I am crazy 😆