Buying a home overseas need not be a nightmare

Buying a home overseas need not be a nightmare

Buying a home overseas need not be a nightmare

Whether you’re considering buying a holiday home or planning to start a new and more fulfilling life overseas, the process needs careful consideration from the start.

From deciding on your favourite destination and finding your dream house to considering the reality of moving your belongings and your money to a foreign country whilst dealing with ongoing commitments in the home country, becoming an expat will sometimes feel like your worst nightmare! The only way to wake up and live your expat dream is by leaving nothing to chance.

Researching your chosen country’s property market over the years since the 2008 financial crash should give you clues as to where it’s likely to be over the next few years. Buying at the market’s low point and selling when it’s recovered is something Brits have been practicing for decades, making them ahead on points as regards choosing the right times to buy and sell. Being realistic about your needs rather than your wants is essential, however tempting a large villa with a pool at an affordable price may be.

Taking a trip to your favoured location in order to inspect a number of properties as well as their neighbourhoods rather than attempting to get an idea of what’s around whilst you’re on holiday will pay dividends, as you’ll be focused on the matter in hand rather than the distractions of sand, sea and sun or historic cities. Choosing between a new-build or a restoration job is where common sense kicks in, as what seems possible can often prove rather less fun in real life. If you’re going for a new-build, checking the developer’s history in the area is yet another essential, as is never, ever buying off-plan, however good it looks and sounds.

Once you’ve found your new home, considering skipping the hassle of shipping your belongings is worth a thought. The cost of a shipment might be the same or even more than the cost of buying new, unless your present home is crammed with antique furniture you’d rather die than leave behind. Checking furniture stores whilst you’re on your research trip might help you make up your mind. Other focuses for careful research include the actual cost of living, as online listings tend to be less than accurate, plus the average cost of maintenance of your new home. This last is yet another essential unless you’re planning to live there full-time.

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