3 Tips on Buying Property Abroad

3 Tips on Buying Property Abroad

With extremely competitive prices the property market is looking more positive these days. Spain has always been a popular destination, since the fifties and the evolution of package holidays. Today it remains so. Prices are among the lowest they have ever been, which means property there appeals to investors as well as pensioners looking for an easier way of life: Without a doubt, living costs are comparatively low in comparison to places like France, England and Germany. If you are considering buying property abroad here are 5 tips to help you get started.

Negotiate Price – It’s a Buyers Market

With the property market so competitive it is important to remember that you are in the negotiating position. Spain, in particular, has a property market almost heaving with repossessions and new property. Owners appreciate this makes it competitive and most are willing to negotiate. Make the most of your powerful buying position. Right now it is most definitely a buyers market.

Moving Costs – Be Selective

Relocating abroad can be expensive, without a doubt. Moving furniture and personal possessions can add substantially to costs. Some properties will have furniture and it might be possible to negotiate with the owners to purchase it, either included in the price or for a nominal amount. While you might love that sofa you’ve had for years it’s a good idea to leave anything that does not have any real sentimental value behind. Be selective and assess moving costs when purchasing your property. If you do not, you might find yourself going over budget and adding stress to an already stressful situation – Ask anyone who has moved home and they will tell you, it is one of the most stressful things you can do. Moving to another country even more so. Keep an eye on costs and you will avoid getting into hot water.

Choose your Region Wisely

Every European country is the same, the price you pay will vary depending on the region you buy in. Cities tend to be the highest prices, although certain areas will be less than others of course. Check out the demographics. Compare regions and ensure they have the conveniences you need. For example, if family will be visiting often or visa versa, how far away is the airport? If you will need to work, what is the employment situation locally? While some regions are cheaper than others for property, often the employment situation is not particularly good – Hence low priced property usually reflects local economy which includes wages and job availability.

Moving abroad can be an exciting venture. However, it can also be somewhat stressful even for the most organised of people. Unquestionably, think about what your priorities are now as well as in the future. Do not “jump in” with regards to making a buying decision. Do your homework and do the maths first. That quaint property up in the mountains might seem idyllic but it might turn out to be the house from hell!