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Things to Consider When Buying a Home Abroad
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Things to Consider When Buying a Home Abroad

A holiday home abroad can be a great place to spend your vacations as well as being a fantastic investment for the future. There are a few things to consider before you rush ahead though. Here are some of the things you need to think about first.

 

Location

The location of your holiday home may depend on how you want to use it. For example, do you want somewhere you can get to in a couple of hours so that you can get away for just a weekend? Or would you prefer somewhere further afield that would be great for a longer holiday or even for living in for part of the year?

Amenities

Having local amenities within traveling distance can make a big difference to your enjoyment of the property. Go to the area and talk to the neighbors about what the local amenities are like and whether there are any common problems. This will help you to get a feel for the area.

Local Laws

Do your research when it comes to local laws as they are different in every country. Make sure that what you think you are buying is actually what you are buying. For example, will you be buying the land as well as the property and what rights do you have over the property once you own it? Make sure you do your research before you part with any money as it could be difficult to get this back if things go wrong.

Additional Costs

As well as buying the property, there will also be additional costs involved in purchasing your holiday home. Legal fees, shipping costs and connection charges for things such as sewerage and electricity will also need to be paid. Set up a system for international money transfer to make sure that all these costs can be taken care of simply and effectively. 

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Legal Advice

Wherever you decide to buy your holiday home, you will need to take legal advice and you will usually need a lawyer to complete the transaction. Seek independent legal advice from a lawyer who speaks English. Check that they are qualified to work overseas and have experience in doing so. You don’t want to get this wrong so make sure you choose your legal representation carefully.

Use a Translator

Unless you speak the local language very well, use a translator to help you understand what you are getting into and what paperwork you are signing. Make sure they speak the language fluently and check whether they have some experience of buying property in the local area too. That way they will be able to translate and explain the legal process and jargon to you as well.

Put these suggestions into place when you are buying a holiday home abroad and you will find that the transaction and enjoyment of owning your holiday home will be smooth and easy to arrange. Then all you have to do is plan for when you are going to spend time in it.



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