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Buying Overseas
Buying property abroad is becoming more and more popular, with increasing numbers of people purchasing a holiday home, a buy-to-let or following their dream by leaving the rain and grey skies and seeking a brand new life with a new home in the sunshine ...
Before you start looking, there are a few things to consider which could save you time and money in the long run. Ask yourself some questions:
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Do you like the country or town?
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Do you want to be by the sea? Or inland?
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Do you want to live in isolation? Or within a short distance from town?
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How close to bars, shops and restaurants?
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Do you want to be near to sports facilities - for golf, tennis, swimming, or a gym?
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Where's the nearest public transport? And what's the frequency?
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How far away is the airport?
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Do you want lots of outdoor space? And how will this be maintained?
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Are the local health services good and how far away are they?
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Each country has its own way of doing things, so once all your research is done and you've decided where to buy, you need to gather all the information you can with regards to how your chosen country operates when it comes to buying property.
Professional Advice
Always use qualified professionals who are officially registered and hold a licence. It is advisable to choose someone who speaks both English and the native lanaguage, so they can deal with all the rules and regulations. To give you an example ... did you know that if you're buying in Spain you'll need to make out a will in Spanish before buying, or that you can inherit debts from a previous vendor?
Always use qualified professionals who are officially registered and hold a licence. It is advisable to choose someone who speaks both English and the native lanaguage, so they can deal with all the rules and regulations. To give you an example ... did you know that if you're buying in Spain you'll need to make out a will in Spanish before buying, or that you can inherit debts from a previous vendor?
Costs
Get your solicitor or lawyer to assist you in researching all the costs involved in your purchase. Be prepared with your finances and make sure you have allowed for all the additional costs. For example, taxes can be quite high when buying abroad. If you are thinking of renting the property, another thing to be aware of is, advertising in the UK for a property abroad could result in tax demands from both the English and foreign authorities.
Enjoy your new venture; just take some time out to think a few things through ...
