Buying Properties Abroad - Holiday/Vacation Homes

Another very common reason for buying properties abroad is to use as a vacation or holiday home. This could be primarily for yourself, perhaps just letting it out occasionally or allowing family and friends to use it. Or it might be with the intention of setting up a vacation rental business - in which case you may well have a number of properties.


If people are buying properties abroad for holiday/vacation use, the factors to consider in choosing a locality are different from those for investment properties. They include:

• Ease of travel. This applies whether it's for yourself or for rental, or both. You may be choosing the area because it's near an airport, but make sure there are flights there from an airport that's convenient for you. Suppose those flights were discontinued - would there be a reasonable alternative?


• Is it a place where people WANT to go on holiday? If it's just for yourself, it doesn't matter too much if it's in a fairly unknown area - in fact that might be a plus. But if you're setting up a business, you need to be certain you would have enough rentals to make it pay.


• For the same reason, check local competition. Even if it's a fabulously popular location, you would struggle to break into the market if there's already an established rental culture.


• And check the length of the rental season too. Can you only count on letting it out in a fairly brief peak season, or is there a pleasant year-round climate which might mean you could count on letting it out for most of the year?


• Whether it's for yourself or for rental, DO be thorough about looking into local planning/zoning laws. It has been known for purchasers to have their property demolished by the authorities because the land was developed without the correct permission.


• And while doing this, check whether there are any developments planned in the immediate neighborhood of the property. You may have fallen in love with it because of its stunning sea view, but arriving the next year to find a huge apartment block between you and the sea might rather spoil your enjoyment!

This isn't meant to be gloom and doom! If you're expending the money on an overseas property, it makes sense to avoid the pitfalls. Buying properties abroad should mean excitement, pleasure and fun! So make sure you avoid risks that could ruin your experience!

I'm sure there must be other points to note. If you've had personal experience, good or bad, please share it. Also if you have a question, please ask - if I can't answer it, perhaps someone else can. And if you are looking for a property, there's a gorgeous selection at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html