5 Tips For Managing Two Homes In Two Countries
For many homeowners, the idea of having one home in the UK and another abroad is something of a panacea. However, ambitious property investors and those looking to expand their portfolios can often find success by finding homes abroad as well as maintaining a domestic presence. With one foot firmly ingrained in the UK and one in an exotic expat destination like Spain (as an example), the long-term benefits can outweigh the drawbacks.
What Living in the UK and in Another Country Could Look Like
Deciding to live in Spain, even if temporarily throughout the year, requires careful planning and research. However, it shouldn’t dissuade you as recent market insights suggest house prices are set to fall in 2024, making it a great area for relocation and investment. With a much warmer climate year-round, easy transport links, convenient travel times, and plenty of resources and cultural experiences on offer, settling in Spain can prove to be an enriching experience.
Despite this, it raises an important question – how do you navigate the complexities of managing two homes in two separate countries?
Whether you plan to spend considerable time living in both homes or place them on the market as partial rentals or holiday homes, the challenges of managing properties situated in the UK and Spain simultaneously can be challenging. Spain is a particularly sought-after destination for holiday villas, apartments, or townhouses, providing an incredibly relaxing ambience for those who like to soak up the blazing summer sun. In many ways, it’s the polar opposite of the UK.
Many homeowners with multiple properties see an urban life in the UK and a rural life elsewhere, or vice versa. Spain offers both – much like the UK – with many opting to live in the bustling cities of Madrid, Valencia or Barcelona, while others prefer the tranquil lifestyle of properties located on the Costa del Sol, from Las Chapas to El Rosario.
However, if you’re new to expanding your property horizons abroad, you may be cautious about taking that pivotal first step. You may just be missing some simple tips and guidance to help you overcome the barriers that expats often face when balancing their time in the UK and abroad. These five actionable tips will help you manage your dual-country lifestyle with confidence.
1. Organisation is Critical
When splitting time between two homes, you cannot afford to be disorganised. Take advantage of tools and planners that you can access giving you control over both locations and check in on both regularly.
Assuming you plan to let one or both of your properties to tenants for short-term rentals, for instance, while you’re not there, organisation is still crucial. Mark down important dates like where you will be staying, when the homes need to be vacated, due dates for bills, servicing of properties, building work, mortgage and rent payments, and any local events that may disrupt your travel or plans.
Mapping all of your commitments out in one place will help you stay organised even when plans go awry.
2. Set Up Automated Payments
Handling finances for properties requires constant awareness and oversight, and they can quickly feel overwhelming if not managed. Save yourself the hassle by setting up automated, seamless payments through your bank for any recurring expenses.
From utilities and rent payments to insurance, management or community fees, having them all automated saves you the trouble of manually paying each month. Automating payments to be delivered before or on due dates will satisfy your obligations every month, even when you’re not physically present at either property. If you’re renting either home out make sure that the recoupment of rental payments is timely.
Be sure to mitigate any accidental overdrafts or cash flow shortages by maintaining sufficient funds in your account(s).
3. Leverage Technology
When managing two residential properties in two different countries, leveraging technology is crucial. This ranges from property management tools to security technology, many of which can be installed on – and controlled via – your phone.
You can visually monitor things at an unoccupied property through smart home cameras, control who enters and has access with smart locks, and remotely let in any approved people.
Integrating smart thermostats, lighting, and appliances also gives you autonomy while you’re away. Provided you can connect a device to a native WiFi network, with you as the primary administrator, you can control and optimise your outgoings and energy usage. The right tools will give you peace of mind that the property is safe and secure while you’re not physically present at either.
4. Consult Trusted Professionals Who Can Help
Even if your home is equipped with the best technology, occasionally you will need physical help. Hiring trusted people who can act as watchful eyes on the ground while you’re gone can be infinitely reassuring. Hiring people like housesitters, cleaners, handymen, gardeners, or caretakers can ensure that your home is kept in peak condition while you’re away. On top of that, depending on your rental and lease arrangements, consulting with trusted estate agents or property professionals is also imperative.
Whatever your circumstances, communicate what you need and when, and put checks in place to ensure that your property can be looked after sufficiently during the times that you’re not present. Show appreciation to contractors and helpers who take the initiative to ensure your home is in good condition year-round and who go the extra mile to reassure you.
5. Stay Involved in Both Communities
Splitting time between two homes doesn’t come naturally to most homeowners. To avoid losing that valuable sense of connection and involvement, it’s wise to be active in both communities in ways that suit you.
While away, keep in touch with neighbours, follow community groups, and touch base with friends that you make in the area over time. When you are there, attend community events and maintain a presence among your peers. Consider giving each visit that you make to either property purposeful, whether that involves engaging with local Spanish communities, or hosting get-togethers.
Everyone’s needs are different, but it’s important to do what gives you fulfilment while you’re in the UK and Spain, whatever that may be. Spain offers plenty of opportunities and enriching places for retirees as well as those in the prime of their lives, so it’s important to consider what’s important to you while you’re there.
Making Dual Life Work for You
It’s clear that living a life where you’re frequenting both countries brings challenges. The main takeaway should be to give yourself the best chance possible to split your time well and reap the benefits of both locations. Whatever your current living arrangements, consider a relocation project as an opportunity to broaden your horizons and experience life in a new community with an open mind.
Constant effort is required – this won’t happen overnight. If you’re a frequent traveller, you may be accustomed to places feeling new. However, those who are new to living abroad may find themselves taking longer to adjust to the idea. The key is accepting that you need to give it time. While not easy at first, the right systems, tools, and support in place can make the transition much easier. Stay focused on why you want to have a life both in the UK and abroad, and why having a foothold in both countries matters to you.
Take your move to a dual-country lifestyle step by step, ask for support when you need it, and watch your life change for the better before long!