Seanest - Jan Van Parijs Properties

Step by Step Guide to Buying Property as an Investment

Buying property as an investment is a huge decision to make and will have an impact on the rest of your life. Thus it’s incredibly important that you do thorough research before you buy property abroad.

 

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Buying property as an investment is a huge decision to make and will have an impact on the rest of your life. Thus it’s incredibly important that you do thorough research before you buy property abroad.
Every country has their own set of tax, property laws, and economy, and every real estate market is completely different to the next. So it’s imperative that you comprehensively take a look at the fine details of any country you are looking at buying in and see if it’s the right choice for you.

 

The country

 

First things first, you need to decide on the country where buying property as an investment is a good choice for you. You should draw up a shortlist of the potential countries that you are considering – then decide on the best place for you based on the weather, lifestyle and other factors that you are looking for.

Unless you are experienced in buying property as an investment – we would suggest that you stick to string property markets – such as those found in Europe. Remember that property is also easier to manage if it’s close by and it makes taking holidays there easier.

 

The prices

 

Next, you need to look into the property market of your chosen country and have a look at the property prices. www.globalpropertyguide.com is a great site to check out to get the lowdown on properties from all over the world.

Keep your budget in mind when you are thinking of buying property as an investment and even if you really fall in love with a property – try to keep it under what your spending limit is – as there are extra maintenance and renovation costs that you are bound to encounter through the years.

 

City and region

 

After choosing the country where you want to buy property as an investment, it is then time to look at the city or region where you’d like to invest in. Make sure that it suits your needs and requirements as a landlord.

The best thing to do is actually visit the city or region itself and talk to the locals and get a lay of the land in person. This will give you direct experience of the area instead of relying on others.

 

The rental market, location and price

 

Once you have decided on the region or city, you then need to decide on the exact location of your property. It is imperative that you buy somewhere where there is a high tourist turnover, as this will be in demand and will also bring in a higher rental price.

Don’t forget that this property could also be a holiday home or retirement home, so choosing a place that you would like to live in is also important.

 

Tax and laws

 

This is an incredibly important aspect of buying property as an investment and you need to be aware of how your mortgage and rental income will be taxed, as well as the capital gains tax issues to consider.

If you are looking into buying property abroad as an investment, then Spain is an excellent destination to consider. With warm weather, a large tourist market, beautiful landscapes and a strong economy – it’s little wonder that it’s one of the most popular spots for Brits to buy property.

Our new guide A Foreign Property Investment Guide is a must-read if you are thinking of buying property abroad, and also have a look at our property for sale in Calpe and keep an eye on our blog for more info and advice on the Spanish property market.

 

 

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