Buying property abroad has for a long time been a very enticing thing for many people, for a number of reasons. Whether it is a change of pace, because you like the culture of a particular European or otherwise foreign country and its people or simply because you crave that warm climate that we just don’t get over here in the UK. If you were trying to make a list of pros and cons for buying property abroadand moving there, you would probably find that the pros list was longer than the cons.
Before you get ahead of yourself though and start envisioning life under a newer, warmer sky, there are some tips to keep in mind when you are looking to buying property abroad.
Has The Property You Are Interested In Been Legally Built?
I asked advice from Juan Solero when writing this, who owns www.inmobiliariajavea.es. Juan said it is wise to investigate the rules and regulations of the land you are looking to move to, particularly regarding the legalities of property builds. If, for instance, a property was built too close to the coastline or on land that had already been set aside for agriculture – it could be demolished without warning by the local authorities.
Is The Asking Price Right?
Often, in areas that have seen an increase in people buying property there, the prices rise. However, it is important that you are also aware of the fact that some realtors try to take advantage of people who have no local knowledge about the housing market there. One way to ensure you are always getting the fairest and best price is to have an independent survey done, as this will also provide you with a benchmark price to follow when looking at different properties.
Has The Property Been Constructed Properly
A property that attracts you with its rustic charm, could have a whole host or structural problems. Older buildings are susceptible to issues such as defective wiring and rot. However, newer properties can have issues if they have not been built properly with strong and balanced foundations.
Check Out The Area
It would be very foolish to buy property in an area you have never spent time in. How are you going to know if a particular place is REALLY suitable, if you have not experienced it in the flesh? With this in mind, make sure you visit prospective places and try and stay for a few days to get a feel for the place, its people and culture.
Find Out Exactly What You Are Signing Up For and Agreeing To
When you buy property abroad, particularly in a country where English is not the most prominently used language, this presents various pitfalls when the contracts are not written out in English. If you don’t speak the language the original contracts are written in, and signed them blindly, you could be agreeing to things you never intended on agreeing to in the first place. Hire a professional translator to help you understand what the contract says and covers, so you know exactly signing up for and that there has been no additions made to it, that you didn’t consent to.