Search for overseas properties
Filed under: Money, Travel, July 2009
Top overseas property searches:- French property
- Morocco properties
- Villas abroad
- Buying property abroad
- Overseas mortgages
- Cyprus property
- Moving abroad
- Overseas property
- Property investors
- Apartments abroad
When deciding on your perfect location, have a good think about what you prefer - towns, countryside, beaches, mountains. Check out where the nearest shops and attractions are - especially if it will be a rental property. How convenient is it to reach from the airport, what's the electricity supply like? You'll have to visit the area to get a good idea of it. The most important thing about buying property abroad is to a lot of detective work. If you were buying a hous in the UK you would want to find out as much as you can before doing so. The same applies even more so for a foreign investment. Speak to estate agents and property developers, check out online forums for advice.
It is possible to buy an overseas property with a mortgage of up to 75-80 percent of the property's value. You can do this through a UK mortgage broker or with a bank in the country that your house is located in. If you plan to rent the property and would be paid rent in another currency it might be best to take out the mortgage in the same currency - this can also be useful if the exchange rates are favourable. When planning your finances to buy an overseas property, bear in mind there are other fees you'll have to pay: notaries, estate agents, solicitors and taxes. Do your homework before making any offers!
There's a lot of legal work involved with buying abroad, and foreign laws can be confusing and frustrating so make sure you seek appropriate advice. For example, if you buy in Spain and decide to live there for more than six months, you'll need to apply for a 'residencia' to become a resident. Doing this can be advantageous as you'll pay lower taxes. Make sure when the contracts are drawn up you read them carefully - and that you can understand the language!
If owning a home abroad is your dream, remember that it's not a simple process but it is definitely achievable. Do you own a foreign property or are you planning to buy one? Leave a comment and tell us what you think.
Reader Comments (Page 1 of 1)
jim crayston said 6:46AM on 7-03-2009
bought a house in spain 3 months ago not a easy process but well worth it make sure you have a good notiria as they are worth it do your home work on area and visit that area several times at diffrent times of the year to make sure it is what you want ie it can get cold some months even in spain. and it does not have to be big and brassy after all who wants the upkeep of a pool that only gets used infrequently.
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tracy said 8:36AM on 7-03-2009
Hi
We're thinking of moving to Mallorca, but have'nt done any proper homework yet?
Where's the best place to get all the relevant info from and how did you find your notiria?
Thanks
Tracy
judy said 2:03PM on 7-09-2009
We are thinking of buying an apartment inLido di Jesolo near Venice in Italy anyone know how to go about this.
We are also looking for a female holiday companion aged 55-65 to share apartment for a one week beach holiday in Italy leaving on 1st September
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K Morley said 2:07AM on 7-12-2009
Not the same Lido di Jesolo where me and my wife got bitten to death by every midge in Italy ? The Swamp of Death! Dont do it ,dear! Bognor,anywhere....but not Jesolo!
Barbara Johannes said 4:29AM on 7-20-2009
Hi Judy. Re your holiday plans for Lido de Jesolo on 1st September, I would be very interested in discussing it with you. Please contact me - Barbara bjjnns@aol.com
Stephen Young said 2:10AM on 7-12-2009
We bought an apartment in Tenerife in 2002, we employed estate agents and went through a lawyer. After moving in we found out it had all sorts of water issues in so much when it rained it poured straight through as it did in the majority of the complex, 400 bedrooms. In 2006 after the complex closed, we found out it had no licences, touristic or first occupation and completely illegal. Some 3 years on we are still fighting the developer to cancel the purchase agreement using civil court litigation. There are 79 of us undertaking this process, we are close to a resolution but the Canaries courts are continously letting us down. You will not find many allies when this sort of problem arises, and no support from the agents or lawyers who were part of the purchase process. So in my experience if you do consider buying an apartment abroad, (especially Tenerife) buy second hand, demand to see copies of all licences, minutes from the last number of community AGM's and most important of all, do all things you would do at home until you are certain you have challenged all aspects of the purchase. Trust me when I say you will find it very difficult to find a lawyer willing to sue another lawyer or an estate agent to challenge the selling methods of it's competitor. Until property purchases are regulated in Tenerife...........trust no one !!!!!
Compostela Beach Golf III Action Group
Protection and Justice
Stephen Young- 3003
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CLIVE BUNN said 7:27AM on 7-12-2009
HOW MANY PITFALLS ARE THERE IN BUYING PROPERTY IN TURKEY, THEY SEEM TO HAVE A VERY REASONABLE ASKING PRICE FOR NICE LOOKING PLACES ON INTERNET
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john brown said 8:21AM on 7-12-2009
There are plenty of pitfalls to buying property in Turkey Clive. Where did you have in mind. My wife and I bought a beautiful Duplex in Altinkum 3 years ago. We were fortunate to buy a secondhand one from a builder in the block where my sister in law bought hers. All of our experiences in Turkey have been very positive but there are many horror stories.
Go on to a website called Absolutely Altinkum. They have great advice that we adhered to and they also log on to all the horror stories. There is one particular link called the Voices Newspaper. It is a turkish/British run paper that also catalogues the large number of cases that have seen ex pats lose not only their homes but their capital running into hundreds of thousands of pounds.
Slip me an email if you need any further advice. Good luck in your search for your holiday home. There are a number here being sold by English folk for sums ranging from £55,000 for a Duplex to £80,000 for a five bedroomed Triplex with its own pool etc and all the mod cons and that is fully furnished too.
Regards,
John
Heather said 9:09AM on 7-20-2009
I would love to buy a villa in Sardinia preferrably nr Alghero town. My Husband and I visit every year and have never had a bad holiday there. The people are extremely friendly and the place appears to us to be very safe and family friendly.
Does anyone have any experience with buying there at all?
Heather
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Ray said 4:36AM on 7-31-2009
We bought a house in Bulgaria, not close to the sea, in a small village and the people are wonderful. The friends we have made in the village look after our house and garden, 400 metres of grape vines plus and acre of grass and fruit trees. Beer in the local bar is 50p half litre. If anyone wants to know some of the pitfalls of buying in Bulgaria contact me - rayatsomers@aol.com
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ade p said 4:42AM on 9-06-2009
"TOP TIPS TO BEAT AUTUMN BLUES: BUY A HOLIDAY HOME"
I'll pop into the garden then and pick a few thousand off the tree!!!
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john said 7:01AM on 9-06-2009
looking to buy a property in southern barbados;any advice shall be appreciated,
John
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