Working Abroad: Castles In Spain – When A Dream Becomes A Nightmare

Continuing our look at living and working abroad from last week.

Property

There are three elements to the price of a house: it’s raw land value, the cost of its construction, and its ‘faddiness factor’. The first two are relatively constant – e.g. a 3-bedroomed villa in good condition with 2,000 square metres of land is worth ‘x’ more or less wherever it is situated. Now move it to overlook a golf course, a beach or parkland and you can add in a ‘y’ value. Sit it in between a dual carriageway and an industrial estate and leave it at ‘x’ – there is no (positive) ‘y’ value. The higher the ‘y’ value, the more you risk, therefore make sure that there really is only the smallest possibility of your new house being diminished by further development, for example.

When you buy a house with a high premium element to it, understand that the immediate ‘profit’ has been soaked up by the developer or a previous owner (for a private sale). Thus, you are immediately at risk to the tune of that ‘y’ value.

Banks are notorious for stacking the deck.

Don’t take out secured loans on property. The second you default on a payment, you are at the mercy of the loan organisation. Yes, if they repossess the house they are obliged to return any sum in excess of what you owe them but, because that protection is the only obligation, there is no incentive for the bank to do anything other than sell your home at a rock-bottom price – particularly if the new buyer should turn out to be a friend of one of the bank’s staff.

Work

As a foreigner, your head will always be the first to go on the block if there’s a crisis. We all ‘look after our own’ so why should your new countrymen behave any differently? While you can cry “I’m an EU citizen, you have to give me a job” as loudly as you want, bureaucrats can make life endlessly difficult by not understanding your certification, querying why you don’t possess forms that only a native of your new country will have, and even not being able to cope with your former UK postcode. There really is no limit to how obstructive these people can be if they choose.

Therefore always have a Plan B. For at least the first 10 years in your new country, have some way in place of earning a few pennies as a back-up. It doesn’t matter if it’s selling things on Ebay, writing travelogues for a website, or cleaning swimming pools on the cheap. Have something in mind otherwise you may well end up being forced into a knee-jerk reaction. Keep your head when all around you are losing theirs.

Escape route

While it may be nice to get away from it all, make sure that the ‘all’ doesn’t include expensive or time-consuming travel arrangements should you wish to return to the UK. Don’t just settle for one means of transport, either. While Rubber-band-Air may be flying into your local airport 3 times a week and offering £5 flights back to London Fat-cat-wick, that doesn’t mean they will keep the service operating. Once the undigested food hits the fan, that service will soon disappear – be sure of that. Check out trains, boats and coaches as a back-up. You may need to return on a regular basis to work in the UK.

Handling it is always better when in its unused condition.

Don’t just keep in touch with family and friends. Keep up to date with developments in your own industry so that, if necessary, you can step back into your old shoes – even if just for a while. Read the (relevant) trade news, speak to your old workmates, send a postcard to your old company – anything and everything to stay ‘employable’ in the UK.

Should the worst come to the worst, and to return to my childhood holiday experience, it’s always far better to be handing out the toilet paper than swimming around in it.

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