Being able to buy a home aborad is a dream that almost all of us have had at one point or another. Whilst most of us are going to have to wait a decade or three before it becomes a viable possibility, there are some people who are ready to take the plunge. If you’re one of them, you might be feeling a little intimidated as well as excited. Buying a home anywhere is a very big deal and buying a home abroad can be a little frightening at times.
Mostly, it’s nerve wracking because it’s not only an investment in another house, but another country as well. Buying a holiday home can be one of the best decisions that a family will ever make but it doesn’t come easy. It takes hard work and determination to keep things on track and to make sure that the decision you’re making is a good one. In the interests of helping you make the right choice – here are some tips and tricks that you can use to find your ideal holiday home.
Choosing Your Location
This tends to be the easy part for most, but some people do find it difficult to narrow down their choices. The climate is usually a deciding factor in most people’s decision, so do take this into consideration when deciding where to buy your holiday home, say the experts at MyCurrencyTransfer.com. If you’re not a fan of hot weather, it really doesn’t make sense to purchase property in Italy or Spain for example. You’d be better off choosing a house in France or Switzerland where it’s warm but not baking hot for most of the year. Do make sure to pick a region that you adore – you are going to have to come back to it for frequent holidays if the cost is going to be worthwhile.
Stick To Your Budget
You must only buy what you can realistically afford to mortgage or pay for outright. Set a reasonable budget and stick to it, making sure to take into account the myriad legal fees that come hand in hand with buying abroad. If possible, speak with a foreign currency specialist who can give you up to date advice about exchange rates and currency values, says BBC.co.uk. Take care not to fall in love with the first house that you see – you are advised to take an extensive tour of a region’s available property before you make a decision. After all, you do want your holiday home to be perfect.
Get Expert Legal Advice
Purchasing property abroad is a legal process in exactly the same way that purchasing a property in the UK is a legal process – a lot of the same rules and regulations apply. However, there are bound to be a lot of domestic laws and rules that you won’t be able to fully understand without the help of a local lawyer. This is absolutely one of the most important pieces of advice available when it comes to buying property abroad – you must seek the services of a lawyer who’s well versed in the laws of the country in which you are trying to buy a home. If you fail to do this, your purchase may end up being partially illegal, say the experts from APlaceInTheSun.com. British expats have had their holiday homes seized and destroyed because they didn’t follow the rules. You have been warned.
Remember To Enjoy It
As long as you are 100% aware of everything that is happening with your bid and purchase at all times, you should be fine. Thousands of Brits buy second homes abroad every year and almost all of them turn their purchases into huge success stories. Once the necessary documents have been verified, the contracts have been signed and the keys have been handed over – there’s only one thing left and that’s to enjoy your new home.
Author Bio: Kevin Maddox is a consumer rights consultant and expert on foreign property laws. He recommends that families stay in a holiday cottage in their prospective region for at least a month before deciding to buy property there. Kevin recommends Cottages Direct for top quality, affordable holiday cottages.