DIY not that simple

Foreign property investment is not just about the cost of the house, too many buyers don't take into account the amount of money needed to repair and renovate, according to a chartered surveyor.

Mary Hall, who is based in France, said UK buyers who are at a disadvantage because of the low value of Sterling against the Euro, can still benefit from buying across the Channel.

If buyers are on a finite budget she suggests the best move is to buy somewhere that is habitable but also amenable to being extended. Then bargain and haggle over costs. One way of saving money, for example, is to use British paint over its inferior and more expensive French equivalent.

'If you are undertaking work on a property you own, whether it's a full renovation or just making some improvements sit down calmly and look at the whole project. Don't just cancel random elements of the build, and don't start skimping on major elements such as roof repairs and drainage,' she says.

'If you don't fix a failing roof properly, it will have to be done again and, in the meantime, leaks could damage the property. If you need a new fosse septique and associated works, make sure the capacity of the system meets the present and future needs of the property, as it will be costly and messy to dig up your garden again.'

She advises that phasing the works is an obvious short-term solution to many cashflow problems. 'Managing without a guest bedroom or a second bathroom might mean a little inconvenience when visitors come to stay, but the costs saved now might mean you can at least finish the kitchen,' she adds.

Shopping around is vital. 'Make sure you compare like with like in terms of quality and what is included in the price. Haggling is acceptable; they want your business so go for it!'

One example is swimming pools. 'For years, people have managed without expensive roller safety covers on their swimming pools, and there's no reason to buy one now if you are on a tight budget. The old-style covers are still sold but salesmen push the more expensive ones,' Mary points out.

She particularly warns against using cut-price British 'builders' working on the black for cash. 'They lurk in bars, eager to pounce on Brits in need of a cheap job. Often these guys have run out of money on their own project, and they want to make money out of yours. Many have no idea of what they are doing, and are especially dangerous if let loose near electrics or heating systems,' says Mary.

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