Buying property is many things, but ‘easy’ isn’t one of them. Making such a significant purchase means you need to reach some very important decisions, and the challenges only multiply when you’re considering buying abroad.
Perhaps you’re relocating. Maybe you want a holiday home in a place you love. Whatever your reasons for looking overseas, the task ahead of you is far from simple. That’s why we’ve created this guide to help you. Here’s everything you need to know when you’re buying abroad.
Thinking of buying your dream villa in Turkey? The thought may seem idyllic, but there are lots of factors that make purchasing overseas a challenge. One of the most obvious is the language barrier. That’s why it’s a good idea to try and develop a basic grasp of the language and terminology you’ll need to use before you start shopping for properties.
There are lots of resources out there to help you, many based online. Say you want to learn German, for example. Sites like Preply list numerous tutors, with listings you can search based on pricing, proximity, and availability. You can book a trial lesson to see how you go and also have a peep at how other users have rated and reviewed various educators.
Trust us – you’ll find it far easier to navigate the difficulties of purchasing overseas if you have at least a basic understanding of what’s being said.
Feet on the Ground
While it pays (literally) to be able to speak the language, when you first arrive, you’re not going to have as good an understanding of the area and any issues to look out for as a local would. That’s why it’s vital to have a locally-based agent to assist you.
Ideally, you want someone who specialises in helping foreigners to purchase a property. These individuals and enterprises do exist, although you’ll likely have to pay a finder’s fee or some sort of commission. Regardless, the utility of their services will usually make this worthwhile, allowing you to find your dream overseas property without too much trouble.
Familiarise Yourself with Local Laws and Regulations
When you’re buying overseas, everything is going to be foreign to you. There’ll be times when you feel as though you’re navigating another planet rather than another country, but one way to rectify this is by familiarising yourself with local laws and regulations.
You’d be surprised by how much these can differ between countries, so never presume anything is the same. Try to get a grasp of how things are done in this new place and don’t be afraid to ask for advice.
This is particularly important if you’re hoping to carry out work on your property post-purchase. In this scenario, be sure to brush up on any planning permissions you’ll need, for example. You might also want to cost up legal fees so you know how much you’re likely to spend.
Isn’t it time you started the search for your perfect overseas property?