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Lots of people often think about buying property in another European country or even farther afield. Some do the research into their favourite locations from previous holidays, and then take the plunge. Many others never follow-up on that fleeting dream, possibly regretting it later in life. For the undecided, here are a few reasons why you should look into the Overseas Property option again:
1. To make a return on your investment – an overseas property purchase can be a top financial performer compared to traditional savings accounts or pension funds. As long as you do your research well enough, you can make excellent capital gains. Use property websites (such as Propertysteps.ie) to hunt down the bargain buys. Look at the emerging countries where cost per square metre is still amazingly low, rather than the in-demand popular holiday destinations. For example, holiday homes in Croatia or Turkey provide excellent value for money if you´re looking for a Mediterranean base.
2. To move abroad completely - many older people buy homes overseas to move abroad permanently. Why? Because the cost of living in many foreign countries is much cheaper than most locations around the British Isles and Northern Europe. The climate and local diet may be much healthier for you also. If you´re "younger" than the average retiree and still in full-time employment, consider this …… could I still do my regular job in another country? Or …… could I earn a satisfactory income using skills learned in my current job? If you are serious about a move abroad, you will find ways to give positive answers. Do you work in a rat-race to pay off high debts, when you could enjoy a more moderate lifestyle in healthier debt-free surroundings?
3. To enjoy the sun, sea or the great outdoors - if you live in a Northern European country, the sun and clear skies can be a rare sight. Having an overseas property in a totally different and more reliable climate can be a real escape. It will be better for your health without doubt too !!
4. To create a second home - you may want an overseas private property that is your own to go on holiday to, as and when it suits you. You can take extended breaks or long weekends as many times as you like. Surround yourself with familiar, personal belongings. Invite your family over to share your new experience.
5. To attract extra rental income - if you pick the right place and location, renting out your international real estate could be quite lucrative. You could opt for a popular yet somewhat remote summer hotspot where high rents are the norm, then enjoy the privacy of your own overseas hideaway in the off-season. Alternatively, you might explore a purchase in a location offering all-year round rental potential which simply "pays for itself". There are also opportunities to purchase attractive yet relatively inexpensive properties in and around developing European cities. The rental from a city dwelling could provide a steady second income whilst the re-sale value accelerates above the general inflation rate.
6. To take on an exciting & rewarding challenge – this category is for those with some spare time on their hands, and it isn't normally for the faint-hearted. There are fantastic opportunities to buy older properties at ridiculously low prices and take on the challenge of turning a ramshackle dwelling into a beautiful new home.. Renovating a property in a foreign country can be fraught with difficulties. We recommend that you choose a location where you understand the local culture and language to a manageable degree. Having access to regional real estate professionals with knowledge of domestic legal obligations will be invaluable in successfully completing your project. In the right location, the eventual rewards can far outweigh any comparable scheme undertaken on home soil.
7. Why not? – it is very true that the world is becoming a much smaller place. With better communications, inexpensive budget flights, train links, global internet connections, and cheap international phone calls, it is easier to live and work abroad now or to visit your overseas property than at any time previously. You could have your breakfast in Ireland or the UK, then prepare dinner in your "home from home" overseas. You might attend a business meeting near to one residence, and then discuss the outcome via e-mail several hundred miles away elsewhere. Then again, you might choose to switch off all the gadgets and relax at the pace set by your new friends and neighbours in a foreign land which you rapidly begin to call "HOME".
Written by
Susan Salkeld
Proprietor of Propertysteps.ie - where you can read more on property matters, or advertise property and related services located in Ireland or worldwide.
1. To make a return on your investment – an overseas property purchase can be a top financial performer compared to traditional savings accounts or pension funds. As long as you do your research well enough, you can make excellent capital gains. Use property websites (such as Propertysteps.ie) to hunt down the bargain buys. Look at the emerging countries where cost per square metre is still amazingly low, rather than the in-demand popular holiday destinations. For example, holiday homes in Croatia or Turkey provide excellent value for money if you´re looking for a Mediterranean base.
2. To move abroad completely - many older people buy homes overseas to move abroad permanently. Why? Because the cost of living in many foreign countries is much cheaper than most locations around the British Isles and Northern Europe. The climate and local diet may be much healthier for you also. If you´re "younger" than the average retiree and still in full-time employment, consider this …… could I still do my regular job in another country? Or …… could I earn a satisfactory income using skills learned in my current job? If you are serious about a move abroad, you will find ways to give positive answers. Do you work in a rat-race to pay off high debts, when you could enjoy a more moderate lifestyle in healthier debt-free surroundings?
3. To enjoy the sun, sea or the great outdoors - if you live in a Northern European country, the sun and clear skies can be a rare sight. Having an overseas property in a totally different and more reliable climate can be a real escape. It will be better for your health without doubt too !!
4. To create a second home - you may want an overseas private property that is your own to go on holiday to, as and when it suits you. You can take extended breaks or long weekends as many times as you like. Surround yourself with familiar, personal belongings. Invite your family over to share your new experience.
5. To attract extra rental income - if you pick the right place and location, renting out your international real estate could be quite lucrative. You could opt for a popular yet somewhat remote summer hotspot where high rents are the norm, then enjoy the privacy of your own overseas hideaway in the off-season. Alternatively, you might explore a purchase in a location offering all-year round rental potential which simply "pays for itself". There are also opportunities to purchase attractive yet relatively inexpensive properties in and around developing European cities. The rental from a city dwelling could provide a steady second income whilst the re-sale value accelerates above the general inflation rate.
6. To take on an exciting & rewarding challenge – this category is for those with some spare time on their hands, and it isn't normally for the faint-hearted. There are fantastic opportunities to buy older properties at ridiculously low prices and take on the challenge of turning a ramshackle dwelling into a beautiful new home.. Renovating a property in a foreign country can be fraught with difficulties. We recommend that you choose a location where you understand the local culture and language to a manageable degree. Having access to regional real estate professionals with knowledge of domestic legal obligations will be invaluable in successfully completing your project. In the right location, the eventual rewards can far outweigh any comparable scheme undertaken on home soil.
7. Why not? – it is very true that the world is becoming a much smaller place. With better communications, inexpensive budget flights, train links, global internet connections, and cheap international phone calls, it is easier to live and work abroad now or to visit your overseas property than at any time previously. You could have your breakfast in Ireland or the UK, then prepare dinner in your "home from home" overseas. You might attend a business meeting near to one residence, and then discuss the outcome via e-mail several hundred miles away elsewhere. Then again, you might choose to switch off all the gadgets and relax at the pace set by your new friends and neighbours in a foreign land which you rapidly begin to call "HOME".
Written by
Susan Salkeld
Proprietor of Propertysteps.ie - where you can read more on property matters, or advertise property and related services located in Ireland or worldwide.
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