How to Buy a Holiday Home Overseas Part 2

How To Profit From Buying Unfinished Homes

How to Buy a Holiday Home Overseas: Welcome Back

We have covered some of the basics in part and now we will go a little bit further. If you have not, please click here to read part 1.

How to Buy a Holiday Home Overseas: Be Aware Of The Laws

Whichever country you’re considering, do research into the laws relating to foreign freehold ownership of real estate in that country and on the projected prospects for the property sector over the medium term – all this sort of information is available on the internet.

How to Buy a Holiday Home Overseas

How to Buy a Holiday Home Overseas: Plan With Budget In Mind

Once you have a country in mind you need to set yourself a realistic budget – realistic in that it is an amount you can afford and also that it is an amount that will buy you a quality property abroad.

Going back to the Mediterranean region in Europe for a moment, those with a large budget could acquire a decent property on the Spanish coast, those with a small budget could only acquire substandard or renovation property on the Spanish coast but could purchase something far more substantial in the interior of Spain.

Think about the amount you can afford and then look at the country you’re interested in – where will you get the most for your money?

How to Buy a Holiday Home Overseas

How to Buy a Holiday Home Overseas: Seek Legal Council

Always employ independent legal representation to assist you in any transactions you enter into abroad.  You may not fully understand the language or legal system of the country you’re buying your holiday home in so you need a lawyer who does!

Furthermore you need a lawyer who is working solely for you and not representing your interests together with those of the vendor or property constructor as well!

Get any contracts or papers you sign officially translated into English before signing, have any promises made or deals verbally brokered written into the contract, make a will that includes your new property purchase and don’t rush into a decision because pressure is being put upon you or because your time abroad to organize everything is short.

The world will not run out of holiday homes for sale in our lifetime.  If you keep your wits about you and remember the golden rule – i.e., if something seems too good to be true it probably is – you’ll be just fine!
Take Care And Have A Great Day

Dr. Gregory Stargell II

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How to Buy a Holiday Home Overseas

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How to Buy a Holiday Home Overseas

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