After the Purchase
This is a preview to the chapter After the Purchase from the book Buying Property in Poland by Tim Hill.
Please note this text is copyright protected.
With a purchase successfully completed there are a number of tasks to consider. Whether you have bought for yourself or as a rental investment you may want to renovate or rent the property. If you are looking for tenants time should be taken to consider who you should aim for as the market has become increasingly diverse. And if you have bought a holiday home your main concern may be security when you are away.
Renovating and Furnishing Properties
The details of this are discussed in Chapter 15 and cover how to choose a company to do it and what is available in Poland in terms of choice of finishes and quality.
Renting Your Property
Although Poland is still very much an emerging market it is already clear that rental properties need to be aimed at specific groups or they might end up appealing to no one. If you have read Part Three: What and Where to Buy you will already have considered if you want young professionals, families, holiday makers, corporate lets, short lets, business rentals and so on and the various implications in both rental income and running costs of your choice. You will also be aware of where agents do exist for certain types of rental and where local help would be required. If not it should certainly be considered before spending money on renovating or furnishing.
The first port of call are local agencies who know exactly what the market is short of and they are often excellent in pinpointing specifics. This may be quality retail space, fully furnished office space or warehouses with HGV access. Equally it could be unfurnished residential apartments or furnished houses. From this you will know if your property requires any changes or is ready for the market immediately. There is no point furnishing an apartment if the market is currently demanding unfurnished in that particular area.
Holiday Homes and Security
Should you decide to buy a property to spend your holidays in, and many people are choosing to do this because of the excellent summer weather, tourist attractions and low cost of living, then security will be a major and obvious issue.
This is in no way limited to Poland and such considerations are equally important in any country. The advantage of a Polish property is that the neighbours are often stable and know who you are and when you are around.
As such in very rural areas it is almost always possible to find someone local who will visit your house or apartment regularly for a small fee. They can usually be relied on to check the post for bills and, if you leave a float, pay any that are outstanding. If however, someone offers to do this for free insist on paying. This is not simply to be nice. Free offers in Poland are often followed up later by requests to “return the favour” and can make for awkward situations.
In most major cities and towns there are security companies who can fit a monitored alarm system to your property and attend the site when it is triggered. This is a competitive business so response times are swift and well manned.
and all the others, when you
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What else is in the chapter 'After the Purchase'?
Change of Use Applications
With the majority of land not yet classified 'Change of Use' may sound ironic but this is still required if you want to use a plot for something other than ...