Homeownership, in any form, is a big step for most people. In fact, it's often one of the biggest financial decisions of our lives. Despite that, sometimes a homeowner in one country will want to buy a second home in another country, whether for a vacation home or future retirement. Usually they make this decision after realizing they visit the same country every chance they get, but sometimes it's because they have relatives or friends nearby too.
Anyone considering buying a second home overseas will of course want to make sure they're comfortable with the cultural and language differences they're bound to encounter. If you're used to visiting the area regularly, you will no doubt already be familiar with some of these. To be sure, you may want to rent a home in that area first, maybe even for a few years in a row, before purchasing your own home.
When you're certain you want to buy, be sure to enlist the help of real estate and legal professionals in your chosen country. This is a good idea of course even in your home country!
When shopping, you will want to be as thorough as you would when shopping for your main home. Inspections, neighborhood comparisons, and location considerations are just as important. You may want to talk with other homeowners in the area to ask about home construction quality, security issues, etc.
You will need to make suitable financing arrangements too, and consider current interest and exchange rates where needed. Don't forget possible tax implications in your home country as well.
Finally, be sure to think about arrangements for someone to look after your second home when you're away. It will need to be checked and maintained regularly, just as your main home.
About The Author
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
The art of using high-leveraged activities.Here I would like to... Read More
A New Way to Own a Vacation Home - For... Read More
Did you know that the sales flyer is the most... Read More
Many people are familiar with the concept of sub-dividing a... Read More
Letting agents play an important role in the buy-to-let industry... Read More
Cheap, Bargain, Real Estate; Good Deals, Below Market, Low Priced... Read More
In Real Estate "Time" is a Wealth Development ToolsReal estate... Read More
As a Professional Real Estate Inspector I get to see... Read More
The longer you are a landlord the more you strive... Read More
The phone range and Peter was on the other end... Read More
I'm often asked about the basics of Design Psychology, which... Read More
So you've just returned to your office after delivering an... Read More
To become a successful real estate investor it's vital to... Read More
Those new to real estate investing often fail to take... Read More
Today we discuss escalation clauses because much of the country... Read More
Cyprus is fast becoming a property hotspot for thousands of... Read More
Is a sharp correction in store for the real estate... Read More
The Traditional FavouritesOver the last five to ten years, UK... Read More
If you're looking to get started investing in real estate... Read More
It's not uncommon for an investor to sell a house... Read More
We Sussex Countians are fortunate in many ways as we... Read More
Advertising to the "Public"Every home seller likes to be assured... Read More
For the past several years housing prices have risen dramatically.... Read More
When real estate note brokers purchase partially paid notes, they... Read More
If you are considering getting involved in investment real estate,... Read More
Do you feel there is going to be a real... Read More
Discover new interior Design Psychology strategies to increase your real... Read More
An education of some sort is a prerequisite these days... Read More
In a previous article we introduced you to the concept... Read More
Searching for just the right home can be very exciting.... Read More
With the recent release from the UK's biggest mortgage lender,... Read More
Successful real estate investing depends largely on a correct assessment... Read More
Hopefully all goes smoothly when you purchase your home. In... Read More
If you are in the market to purchase a home,... Read More
FHA HUD homes are those dwellings that have been acquired... Read More
Las Vegas is known for it's over the top hotels... Read More
The prospect of shopping for a new construction residence can... Read More
Everyone has heard a story or read about someone who... Read More
When painting your home for resale, choosing the right colors... Read More
There are three important questions that you must understand and... Read More
Renters are often in a quandary as to whether it... Read More
My report is for you to use your power to... Read More
Happy New Year, Make it a better world. "Pay it... Read More
Looking to quickly build a million pound property portfolio? You... Read More
Use Google right now and do a search on, "Home... Read More
Financial ConcernsOf the three types of income property, industrial property... Read More
Psssssssssst, Want to know a great way to make FAST... Read More
We all are thinking about it and some of us... Read More
Signage, though quite fundamental in nature, plays an important role... Read More
Anyone interested in real estate should be able to talk... Read More
In medicine, a placebo is a pill that you think... Read More
The physical senses of buyers respond to a home's design,... Read More
I had a client who called saying that his bath... Read More
You've listed your home for sale, you have a Buyer... Read More
It's not uncommon for an investor to sell a house... Read More
Questions Sellers Should Ask in Agent Interviews:1. Is your license... Read More
Seems almost every situation in our lives is centered on... Read More
Of course you're curious, and you'd like to see what... Read More
Condo hotels are one of the hottest products in today's... Read More
Most people who complete a self build will go on... Read More
Hopefully all goes smoothly when you purchase your home. In... Read More
For those looking to invest in the real estate market?keep... Read More
Real estate investors specializing in fixers make higher profits when... Read More
Real estate stories radiate from the water cooler and cocktail... Read More
Buying and selling property is not as easy as you... Read More
Purchasing Florida Investment PropertyConsidering researching the purchase of Florida Investment... Read More
Real Estate |