Lifestyle

Should You Invest In A Property Abroad?

Should You Invest In A Property Abroad?

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If, like me, you are a bit of a traveller, you might be considering buying a property abroad. However, before you do, there are some important things to consider.

Yes, the idea of buying a house or villa abroad is appealing, but it’s a big commitment, and you need to ensure that you are 100 percent sure about it. You also need to make sure that the investment is worth the money that you are putting in.

To help you do that, I have put together a guide to everything that you need to know about investing in property abroad:

Ensure you can afford it

Yes, we all dream of buying a beautiful villa abroad, but if you can’t afford it, it’s a recipe for disaster. Don’t invest unless you are certain that you can afford the fees that come with the sale and the monthly bills. Otherwise, you could end up getting yourself into financial difficulty.

It’s also important to remember that property is a long-term investment. This means that you need to be happy to have your money tied up for at least ten years. If there is any chance that you will need to access your money before then, then investing in property is the wrong choice for you.

Know why you are buying

First things first, you need to ensure that you know why you are buying property. Are you looking to buy a house or villa to use as your private holiday home – if so, check out this real estate – or do you want it for another reason?

There are three reasons that people buy property abroad. These are for investment – to rent out or sell on, to use as a private holiday home, or to use for holiday lets. It’s crucial that before you make an investment in a property, that you know what you want to use it for. This is because what you are using the house or villa for, will make a difference to the type of property that you buy.

Think your plan through

If, for example, you want to use your property for holiday lets, it’s crucial that you think your plan through. Think about the area that you want to buy in, and whether there is a market for another holiday villa.

Contact the local travel agency and ask them how many tourists the area sees each summer. So that you can work out whether you would have the custom that you need. Think about the features that the property would need to have to be a desirable holiday location. Things like a swimming pool, WiFi access, a games room, and being within walking distance of the beach are all musts.

No matter what you want to use the property for, be it investment purposes or holiday lets, you need to think things through. You need to ensure that you will be able to make money from your property.

When it comes to investing in property abroad, it’s important to ensure that you think things through properly. You need to be sure of what you want to buy the property for before you make your investment.

Naomi Isted
Editor in Chief, Naomi Isted is known as The Ultimate Lifestylist to her readers and viewers. She is a TV Presenter and Columnist. Ranked in the Top 100 LFW Social Media Influencers AW14 & SS15, Brand Ambassador for Pears Soap UK. Her Celebrity beauty TV Series currently airs to 27million homes on Physique TV in UAE, previously on Wedding TV in the UK. She brings fashion and beauty advice to her readers and viewers on a daily basis. She is Fashion and Beauty Columnist for Herald Scotland and has a Fashion and Beauty Bridal Blog for HELLO. She can usually be found attending celebrity fashion and beauty events in and around London and sharing the latest fashion and beauty trends with her readers.

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