Everything Overseas - My best advice: buying abroad for the first time

Everything Overseas - My best advice: buying abroad for the first time

12 April, 2016

Continuing our monthly series, 15 property professionals share their advice for those thinking about buying a home overseas.

Are you looking for a new challenge, a better quality of life, or simply want to escape the rat race? Buying a home overseas may be the answer. But there are so many factors to consider from fees to financing. We asked property pros around the globe for their words of wisdom, tips and tricks to make the move easier.

And some of their ideas may surprise you: “look for a home that has been on the market for a long time,” or “find a property that has already been renovated”. It goes against most people’s perceptions of snapping up a new home. For many of us, house-hunting is a sprint. Find the perfect property, make an offer and chase the solicitor for a speedy sale to get you across the line.

Yet it often makes sense to press the pause button. Do your homework, track down the right property, then clinch the right deal at the right price. It’s all part of improving your chances of finding an ideal home abroad.

4. Study the market

“Choose who you work with carefully. When buying a property anywhere in the world, you should take your time selecting which brokers to work with. Buying a new holiday home or an investment property should be an exciting and enjoyable experience. Make sure you feel comfortable and watch out for pushy agents. Trust your instincts.

Get a good lawyer. If you select a good lawyer early on, it will save you a lot of trouble down the road. Keep an eye out for lawyers who point you in the direction of particular agents, sometimes they may genuinely be trying to help, but often they receive commission from the agents.

Why choose Lisbon. Invest in a property which takes care of itself financially, so you don't have to. Renting to other holiday-makers is more fun than digging into your own pocket for mortgage payments. Choose a location which is popular year-round, has demand and growth potential. Lisbon ticks all of those boxes." Tariq El-Asad, Director of Tamea International (www.tameainternational.com)

Read the original post by Stuart Penney here, published 10 March 2016