8 things to consider before buying a holiday home in Europe

Lazazu Team

June 21, 2023

Buying a holiday home in Europe can be an exciting venture, offering the opportunity to have a private sanctuary in a picturesque location and immerse yourself in a foreign culture. Europe’s diverse landscapes, rich history, and vibrant cities make it a popular choice for individuals from all over the world seeking a second home for holidays or investment purposes. However, before embarking on this endeavour, it’s advisable to consider the following factors to make an informed decision:


1. Residency requirements: Some countries have residency requirements for non-citizens who want to buy property. This may include living in the country for a certain amount of time each year or obtaining a special visa or permit.

2. Investment potential: If you make the right choices regarding the location, size, and style, buying a holiday home can be a good investment that potentially increases in value over time. 

3. Financial impact: Make sure you fully understand all the costs involved with sole holiday home ownership. This includes the purchase price as well as ongoing expenses like gardening, cleaning, property taxes, insurance, maintenance, and utility bills.

4. Property taxes: Depending on the country, the property purchase and ongoing taxes may be high, especially in popular tourist areas. Remember to factor these taxes into your budget when buying a holiday home.

5. Financing restrictions: It can be difficult to secure financing for a holiday home in Europe, especially if you are not a citizen. You may need to work with your own local bank or seek alternative financing options.

6. Maintenance and upkeep: Your holiday home will consistently need to be looked after, even when you are not there. This includes regular cleaning, landscaping, maintenance, repairs and rental management, which can be time-consuming and expensive.

7. Rental restrictions: Some countries may have restrictions on renting out holiday homes to tourists, which can limit your ability to earn rental income from the property.

8. Language and cultural barriers: If you are buying a holiday home in a country where you don’t speak the language or are unfamiliar with the culture, it can be difficult to navigate the local real estate market and legal requirements, but  it also provides an opportunity to explore new cultures and lifestyles. 


Overall, buying a holiday home in Europe can be a complex process with various considerations. Fortunately, foreign buying barriers can be overcome by working closely with a local real estate agent who can guide you through the process and navigate any legal or cultural hurdles. You can also employ a property management company to assist you with the day-to-day running of your home. 


If you are not planning to use your holiday home all year round, co-ownership might be a good alternative for you. It offers many benefits and makes owning a foreign home a much more hassle-free experience:


 – Stress-free purchase: We manage the entire property purchase process on your behalf. We find qualified co-owners, handle the legal work and set up a dedicated company through which you will own your home.

– Sensible ownership: Enjoy the same asset and experience at a fraction of the cost by aligning your ownership share with the amount of days you actually use your holiday home.

– Cost sharing: Co-owning a property allows you to share the purchase price, ongoing expenses, and maintenance costs with other like-minded owners. This can significantly reduce your financial burden and turn your dream of owning a holiday home in Europe into a reality, at a fraction of the cost. 

– End-to-end property management: We take on all the responsibilities of property management including gardening, cleaning, maintenance, and repairs. This can alleviate the stress of handling these tasks alone and ensure that the property is well-maintained.

– Flexibility: Co-ownership offers flexibility in terms of scheduling of your stays and availability. With a clear set of guidelines and a booking system in place, owners can enjoy their home frequently during the course of the year.

– Reduced risks: Sharing the financial burden and risks associated with owning a property can provide peace of mind. Unexpected expenses may be more manageable when spread across multiple owners.


Ultimately, co-ownership can be an excellent solution for those seeking a holiday home in Europe while mitigating some of the financial and management challenges associated with sole ownership in a foreign country. If you feel co-ownership might be the right choice for you, please get in touch with our international team.


Discover more about Lazazu:

How Lazazu co-ownership works | Frequently asked questions about shared holiday homes | The benefits of fractional ownership | Browse Lazazu’s selection of second homes | The difference between timeshare and co-ownership