Buying Properties Abroad - To Live In!

A third major reason for buying properties abroad is the biggest step of all. You're planning to sell up in your home country and to move into your new home permanently.

As I mentioned a few days ago, this is something Brits have been doing for several decades now. Most of them have made the move for their retirement, but an increasing number find it possible to live in France and commute to Britain, or else carry on working from their home or set up businesses in their new country. The largest number probably move to Spain, but lots also find homes in France, Italy, Greece, Bulgaria and other European countries, Turkey, and even further afield in countries like Thailand.

Now it seems that more and more people in the USA are having the same idea. The most common reason for British people is probably the British climate! They fancy the idea of moving to the sun. The main reason why it has increasingly been catching on in the USA in the past 12 months is probably the problems in the property market. You can often get more house for your money in many of these countries. But many people are also becoming more and more attracted to a more relaxed and less pressured lifestyle.

For those buying properties abroad to live in permanently, there are a number of things to look out for. It's really not a good idea to spot a property in a place where you have enjoyed a couple of weeks' vacation, and decide this is where you want to live.

First and foremost, you need to be hard-headed about the decision. Go home, get out of your holiday frame of mind, and make a list of the pros and cons.

You must get to know the area before you can decide if it's a place where you want to live. You can manage without good shopping facilities for a couple of weeks, but would the shops meet your needs on a permanent basis? Visit at different times of year to see if you can handle the climate in the off-peak season. Can you get along easily without speaking the language? If not, is it an easy language to learn?

Are you sociable people? Are you happy with your own company or do you need to have friends around? If you need folks around, are there plenty of congenial people in the neighborhood whom you know you can get along with? If not, you could get very lonesome and start missing life back home - this happens to many people but they only realize when it's too late. If you have hobbies, are there the facilities there for carrying on your hobby?

And DO check out tax, pension and health care arrangements. Many people have been caught out by finding out too late that their pension is not payable in full in another country. Find out what medical facilities are available and how much medical care costs, especially if you have a medical condition.

Many, many people find a happy, fulfilling life in another country - but they are the ones who have considered it carefully beforehand. Don't be one of the ones who live to regret it! Take lots of advice and make sure it's the right decision for YOU. And when you've made your decision, find your property at http://www.bizwrite.co.uk/realestate/propertyabroad.html or http://www.bizwrite.co.uk/realestate/overseasproperty.html

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

Buying Properties Abroad - A Great Investment

Yesterday we looked at different reasons for buying properties abroad. One of these was buying as an investment. This could be a way of investing money you have inherited or received as a bonus.

If buying properties abroad is seen as an investment, rather than as a holiday home, obviously the first consideration will be the extent to which a property is not only going to hold its value, but appreciate in value. So if this is your intention, the first thing you need to do is investigate the market.

Now this is where things get a bit complicated. You don't have a crystal ball - so you can't predict precisely whether a property is going to hold and increase its value. Just the fact that a property is cheap doesn't necessarily mean it's going to go up. Quite a lot of people have bought property overseas because the salesman assured them the market would take off - only to find that this never happened.

Some people say you should buy in countries with a proven track record, such as Spain and France. Others say that these are saturated and you should look further afield. In actual fact there are still some remarkably low-priced properties to be found in France so you could possibly find a good investment here. If buying in Spain you need to be VERY careful - many people have got their fingers burnt through not checking the legalities thoroughly enough.

Some of the things you should check include:

• Is inward investment in the country on the increase? For instance, countries which have just joined the EU, such as Bulgaria, could be a good prospect.


• Is the government making major efforts to improve the infrastructure? There are good reasons for believing that Egypt and Turkey, where properties are quite low-priced at the moment, will prove a profitable market. In Egypt because the government want more people to come to the country, and in Turkey because they are desperate to join the EU.


• What are the prospects for political stability in the country? Most EU countries are relatively stable. If there is the prospect of political upheaval in a country, obviously a property bought there might not be a good investment.


• Are there problems with the climate? Many people buy properties based on the fact that they enjoyed a holiday in that country - but that would have been in the peak holiday season. In places like the Caribbean where there is a risk of hurricanes and tornados at certain times of the year, a property might not be a good investment.


• Take expert advice on the economic outlook of a country where you are considering buying investment property. Economic conditions have a powerful effect on the property market and therefore on the chances of your property proving a good investment.

These are certainly not all the factors to consider, but they are some of the main ones. Buying properties abroad, and all types of investment, always carry some degree of risk but you can make sure you keep the risks to a minimum. I would love to hear your views or experiences - have you made a good or bad investment in property abroad? Have you got any tips or warnings for people considering taking this step? If you want to find a fantastic selection of properties go to http://www.bizwrite.co.uk/realestate/propertyabroad.html