Take Advantage of Opportunities To Expand Your Investment Horizon
Buying property can seem like an intimidating process as it’s often the biggest purchase a person will make in their lifetime. Our goal is to help you approach investing in overseas property with ease and confidence. We’ll take a look at:
Mortgage and Finance Options
Property Management Services
We Offer Complimentary Online Valuations for UK Properties
Before You Dive In
Here Are the Steps To Consider:
Are you looking for steady income or the chance of doubling your money in a few years? Decide on a strategy that suits your overall financial picture and tolerance for risk.
Gather as much information as you can on the market you are targeting. An apartment may seem like good value, but the economic growth, potential of the country, its demographics and the legal and tax systems need to stack up positively compared with other markets.
Unless you are planning on using the property yourself, it’s vital to view your investments dispassionately. Making a rational assessment of the prospects for your investment and why you are buying it can help you succeed in the long run.
Understand the political and legal situation in the market you are considering. Many nations restrict the kind of property that foreign buyers can purchase and although there may be legal loopholes, it’s advisable to be aware of the possibilities ahead.
Investors often get carried away comparing how cheap or expensive a property is with real estate in their home market. It is more important to understand how local home prices stack up to average incomes in that market.
How easy is it going to be to sell your property when you decide to exit your investment? It’s important to pick real estate with strong resale demand so that you don’t find yourself in a limited situation.
Make sure you know the real rental value of a potential property by checking on comparable rents for similar units on the market. Understand the average long-term property yield for the market, where average yields are now and the yield on the property you are considering.
Taxes can eat away at your rental income while you own a property and they can consume large amounts of your capital gain when it comes time to sell. Check the current tax laws in the market you are targeting and factor them into any investment case you are making.
Make sure you understand exactly what you are getting into financially. When will payments be due and how large will they be? Also, make sure you know how the property will be held along with the structure of any company set up to own the development.
The biggest and most obvious risk for off-plan deals is that the developer fails to complete the project. So, it is important to examine the history of the developer. Have they completed similar projects in the past? It may be worth paying more for a unit with an established developer - particularly if their properties appreciate quicker than their competitors.