Wagsie

Hi all,

We are going out to the Lake Balaton area 26th November on a viewing trip, not hearing good reports about the Company we are going with so not holding out much hope for it to be successful but thought we would still go and see the area and get an idea of the places and properties.

Just wondered if anyone would relate their good experiences so that maybe we can move forward in looking for a property and hopefully have a positive experience.

Many thanks for your help

fidobsa

When I was looking for a house in Hungary I was helped by our own concierge, Rural Hungary. She selected suitable villages and took photos of the sort of place I was looking for, mainly ones being sold privately rather than through agencies. She then got further details of the ones I liked, price, internal photos etc. so I could compile a shortlist of houses to view. I actually ended up buying a house slightly outside her "patch" which I found myself but that was because the offer I made was rejected on my favourite property from my RH shortlist. I imagine the services she offers now are a bit different but I would not hesitate in recommending RH to help you find the right house in Hungary.

Rural Hungary

Thanks Fib, that really is very kind of you and I can't believe how the time has flown by!

Pollypaprika

At least you will be visiting Hungary and if you do see a place or area you like you can then look it up on the local websites. I am sure there are people here who did have a positive buying experience so don't despair.

Good luck with your viewing trip

BEVS

May I just say something here.

Y'know , we get all sorts of experiences and opinions about all sorts of things, all over BE. Take international pet carriers for instance , or perhaps removal companies and of course real estate businesses.

What I am getting at is that one poster may feel they had ace service. Then along comes another that feels they had bad service.

Go with an open mind. Not a bias before you start . You may just click with this company and they do you great service which you are happy and comfortable with.

Good luck

Sue

Yep I would second this. We have lots and lots of people on BE and what is a good fit for one, isn't necessarily a good fit for another. Doesn't mean that one is right and one is wrong, but rather we all have different needs and different expectations

Best of luck Wagsie. Moving is soooo exciting

Rural Hungary

BEVS and Sue, sorry but I have to disagree on this one.

The company in question lists property advertised in the local freeads with a mark up of 100-200% and I for one do not think any service justifies that sort of profit! A house advertised locally for £8,000 being sold to British buyers for £22,000 - that in my opinion is a rip-off and it's been the same for years. I know of numerous buyers going back 5-6 years who paid £30-40,000 for properties only worth £15-20,000.
Further, the buyer is usually unaware of the fact as they are advised to pay a large percentage of the price "under the table" having been told this is to avoid tax when really it is in part to disguise the disparity in the price they pay and the price the owner receives. Regardless, for an estate agent to recommend tax avoidance is wrong on so many levels.
If the agent was advertising that their fees were £14,000 when buying an £8,000 property, then it wouldn't be an issue however, they don't and the buyer believes they are buying a property worth what they have paid for it.

scrubbedexpat0105

I agree with RH about the rip-off aspect, but I wonder whether that isn't itself misleading.

To me, the real "investment" made by people buying property in Hungary is time, emotional energy, sweat, tears (probably not blood though, it's not that bad).

Talking about Hungarian property in terms of worth, value, prices encourages people to think of the Hungarian property market in UK terms. Naturally, everything looks like a bargain (at least in rural areas away from the lake). But that isn't the "real" cost.

Whilst £15-20,000 is obviously not an insignificant amount of money even in the UK, buying a holiday home in Hungary comes, I would argue, at an even greater "hidden" cost. By the same token, the benefits are not immediately tangible. As for relocation to Hungary, that would be a life-changing experience for most Brits.

Pollypaprika

I think you are making a very valid point here. it's not just about the money aspect....although being ripped off and not being able to resell a house and being 'stuck' in Hungary can be traumatising enough!

There are many 'hidden costs' that if you are not prepared for can come as quite a shock. The language (no its not like learning French or Spanish), the culture, the realisation that Hungary is not the new South of France or the Costas...that you can't just buy a house and expect it to turn into a successful BnB for holidaymakers/tourists or campsite or whatever....and the Hungarian property market (Budapest aside) is very different from the UK.

It saddens me deeply when I see people with their dreams shattered just because some scoundrel sold them a holiday home or worse...a permanent residence...and gave them some spiel about what Hungary is or isnt.

Having said that, there are many of us, on the forum and off...who are very happy here. I think people should definitely not be put off moving to Hungary, but they do need to be aware of what they are letting themselves in for (good and bad).

Rural Hungary

Hi Watchpost,

I understand and agree with your perspective, second home ownership can be a stressful experience anywhere in the world and the "costs" you mention are rarely considered.

That said, granted there are those who can afford to take the loss; those who even years later are oblivious to the fact that they paid over the odds for their property and those who intend on never selling so it might be irrelevant however, there are also those who find circumstances change and they have to sell. Often they find their way to me and I hear of how a partner has passed away or a family member has cancer or another life changing event has meant they can no longer afford planned renovations or to upkeep their property and have to sell. One couple I know has owned their property for a year and stand to lose £18,000, this couple can't afford to lose that money as they are elderly and sold their UK property to fund the purchase and renovations.
It sickens me to the stomach as I am the one who has to write the email telling these people that their property is worth a fraction of what they paid or that they have bought in a really bad village. Invariably, they send me their original paperwork and the price on the contract never tallies with the price they paid, when I question this they always say the same, "I was told the full price wouldn't be on the contract as it would reduce my tax liability" - NO, the price listed on the contract is what the owner received, the rest went to the agent!

To be honest though, I'm beginning to think it's not worth the hassle anymore. I've posted here and elsewhere about several different rip offs and all I get are haters claiming it's because it benefits me or that I advise people not to buy in a certain area because I don't list properties in that area - regardless of the fact that I choose not to list properties in those areas because they are not good areas. What is the point?

Wagsie, best of luck with whatever you decide to do and sorry your thread has become somewhat heated! Hungary is a beautiful country and we have many friends who are very content - both living permanently and others with holiday homes. For some, Hungary doesn't work out and they move on.

Rural Hungary

Which creates an environment in which many expats within an area tend to cling to each other, understandable but as such, nobody wants to be the one who speaks up or rocks the boat as being shunned can lead to a lonely existence in a country where most will never manage to communicate with the locals.

On your second point, in the past month alone, we have had 5 enquires for property or renovations to create a B&B in small rural villages. All have been advised elsewhere that these are viable business opportunities - none of the villages are lakeside or in close proximity to a larger spa or even a river or fishing lake. Admittedly, some might work if well managed and advertised though targeting other nationalities and offering something unique will, in my opinion, be the key to success and even then it will be difficult.

Sue

I absolutely agree that people should do their due diligence, and it's absolutely spot on that members should share tips about buying property in Hungary ... after all that's what BE is here here for. So helping others avoid being "ripped-off" and steering them toward information that can better help them do their research is wonderful.

It's just that I know the expat population in Hungary is fairly a small one, and I think that sometimes (as we've seen evidenced in the Hungary forum before) private issues, and clashes of personalities sometimes come into play, and I don't want that being brought onto this forum.

Sharing tips is great, but I feel that Concierges and Moderators should try to remain as neutral as possible... we're like Switzerland.

Rural Hungary

Nothing personal about this one Sue as I have never met the people concerned nor had contact with them.

I have however heard of numerous people paying over the odds and being advised to participate in tax avoidance as well as seeing with my own eyes properties listed for up to three times the actual price.

Peter_in_Hungary

Hi Wagsie
I agree with the comments made by Rural Hungary

B&B is a crowded market and the 'season' is depressingly short. IMO it would take a long time to get your money back if you have to convert an outbuilding to cater for the B&B. For example if you put in heating to take advantage of the Christmas/ New year / Easter market I would expect it to take 8 - 10 years or so of heating season lets to recoup the expense. As RH said you will need a niche market or be in a holiday resort /spa to make it work. One of the problems is that Croatia has built motorways down to the Adriatic so now what used to be a slow drag is becoming a rush down the motorway. And the prices are competitive.

If you buy somewhere that needs renovating you will need to be here whilst the renovation is happening (or have someone not connected with the builder to oversee)

Don't forget that estate agents here work for themselves first and the seller second, the buyer is the cash cow! You do not have the protection of trades description or small claims etc. that you have in the UK. The advice I would give to someone looking for a place is to drive around the villages / towns looking for "Eladó" signs (for sale) and ask locally. Look in the local advert papers - and try to have someone who speaks Hungarian to do the initial asking. (Many people up the price when foreigners apply) It will give you an idea about prices so that if / when you do go to an estate agent you will have an idea if prices are correct.

All villages have a web site, look at it to see how active the place is and what programs are put on. With a bit more knowledge of Hungarian you can look at the census data to see the population /ethnic make up of the places. (some villages near the Balaton look quite large but the permanent residents are very low - they are 'holiday' villages, empty in the winter. (you could try PMing Rural Hungary for advice on a particular village (sorry RH))

The language is a PIG.

We came here 20 years ago with 2 small kids (5 and 9) they have gone through the Hungarian education system and come out with masters degrees (IMO the education is better than the UK), we like where we are (North side of the Balaton) but we did spend 6 months full time looking for our place when we came here.

IMO Hungary is better and safer than the UK and I prefer living here compared to what I see in the UK

Wagsie

Thank you all for your comments, it makes for interesting reading and we are learning a lot and also searching the web and finding out a lot more than we thought we would.

We are still going to visit on 26th for a few days but will be thinking hard about what we want and need, the info we are gaining has helped us and we have started looking at particular areas that appeal to us.

Sorry if I have opened a subject that has caused any issues, it's good to find a place where people can tell others about the pros and cons and I'm glad I chose to ask my questions on here, youve opened our eyes to some things we didn't realise about Hungary but that will help us in our quest to find the right place for us.

Thank you all for your comments