Buying a home abroad
If the changeable British weather has left you dreaming of a life abroad then you are not alone. Each year thousands of UK residents leave Britain for a new life abroad, but it isn't as easy as just packing your bags and going, moving abroad should take a lot of planning. Here we explore the key things to consider before making that leap:
Location, Location, Location
As with buying a UK home the location of your property should be of paramount importance. When deciding which country to buy consider:
- Can you speak the language? If not is English widely spoken?
- Are you close to local ammenties? Being in the wilderness may be seen as relaxing when you are on holiday but this could soon turn frustrating when you are having to travel miles for a loaf of bread!
- Are there plenty of work opportunities? If you are buying the property as a holiday home or for retirement then this isn't a concern but if your move is more permanent you will need to be aware of local job opportunites.
- How easy or cheap is it for family and friends to visit? If your move is long-term and you have family and friends back in the UK you will need to consider how expensive travel will be for them and you and how easy a trip will be. Can they visit you in a weekend or does the travelling time mean it has to be a longer holiday?
If you need further inspiration then visit HomesOverseas or Rightmove, these websites both have foreign property listings as well as country guides and advice.
Financing the move
Thousands of Britons move abroad for work opportunities and relocation packages can sometimes be an additional bonus to the job offer. If you aren't so lucky though or are moving more for leisure then you will have to think very hard about how you will afford the property in the first place and then how you will finance living out there. Planning this before you move will prevent additional stresses when you move out there.
Buying the property
Once you have decided on the country and area you wish to live in and worked out your finances for the move you can concentrate on finding your dream home. When viewing properties consider:
- Do you want to live in a city/town or in a more rural area?
- Do you want to live in a house or apartment?
- How close local health and social care is.
- Whether you want a brand new house or a renovation project
- How much you can afford to pay and how much houses in the area are selling for
- How suitable the property would be for holiday rentals
- Everything else that you would consider when buying a home in this country, as a guide read our article on 'What to ask when viewing a property.'
Finally remember that buying any home is a huge decision especially homes abroad, we would strongly recommend that you visit the Foreign & Commonwealth Office website for their guide on buying a property abroad before making any decisions.
