Shopping For A Holiday Home In The Sun

Shopping For A Holiday Home In The Sun

Shopping for​ a​ Holiday Home in​ the​ Sun
At this time of​ the​ year when the​ days are short and​ the​ skies are grey, focus tends to​ shift towards the​ glorious summer months when we can escape the​ daily commuter grind and​ the​ realities of​ the​ 9 – 5 and​ take a​ couple of​ weeks out to​ lie on a​ sun drenched beach somewhere.
But why take just two weeks away when you could own a​ holiday home in​ the​ sun, vacation in​ it​ whenever you wanted to​ and​ even let it​ out for​ an​ earnings supplementing rental income?
If you’re one of​ the​ increasing numbers of​ people considering buying real estate for​ investment purposes, why not combine your investment with pleasure and​ buy a​ holiday home abroad?
Buying real estate overseas needn’t be a​ complicated or​ stressful experience; with this ten step guide to​ buying property abroad you’ll find the​ whole process a​ breeze - and​ you’ll be lying next to​ your very own swimming pool soaking up the​ summer sunshine before you know it.
1) Country – you may already have had your perfect holiday overseas and​ know exactly where you’d ideally like to​ own a​ holiday home in​ the​ sun, if​ on the​ other hand you’re still undecided about which country to​ buy a​ second home in​ you should factor at​ least the​ following considerations into your country based research to​ determine which nation ideally suites your requirements: - weather, property prices, accessibility, stability and​ things to​ do.
2) Location – having decided on a​ country the​ next challenge is​ to​ find the​ most suitable area of​ the​ country to​ target for​ your holiday home search .​
Think about whether you want to​ be close to​ the​ coast, inland, in​ a​ city, away from the​ crowds, in​ the​ thick of​ it​ or​ on a​ desert island.
3) Property Type – apartment, detached villa, bungalow or​ rural retreat – which property type suits you and​ also, if​ you’re thinking about renting out your holiday home in​ the​ sun, which type of​ property will be easiest to​ let?
4) Budget – how much money have you got available to​ you, how much money will be required in​ fees and​ taxes when buying overseas? Think carefully about how much of​ your budget you can allocate to​ buying a​ property and​ then stick to​ that figure, do not be tempted to​ over extend yourself as​ this could get you into difficulties and​ even prevent you from having the​ funds available to​ travel and​ holiday in​ your brand new property.
5) Assistance – because you’re buying in​ a​ foreign country you may encounter language barriers, different legal systems and​ a​ whole new buying process therefore it​ is​ wise to​ employ the​ services of​ a​ real estate agent and​ essential to​ secure the​ services of​ a​ lawyer who can guide and​ protect you throughout the​ purchase process.
6) Management – whether you intend to​ let out your holiday home or​ not you will probably require the​ services of​ a​ good management company to​ make sure your pool is​ clean, your roof never leaks and​ no one tries to​ break into your home .​
Take recommendations locally from other people who have their second homes looked after by a​ third party and​ don’t be afraid to​ ask a​ property management company for​ references .​
7) Income – if​ you’ll be letting out your home in​ the​ sun for​ an​ income find out about any taxation you will be liable for​ on that income and​ also about any deductions you can take from your liability to​ reduce your overall taxation burden.
8) Investment – if​ you’re interested in​ holding property overseas for​ investment purposes look into the​ buoyancy of​ a​ market and​ ensure that the​ real estate market is​ capable of​ sustaining an​ investment property – some overseas real estate markets are stagnant and​ difficult to​ realize a​ capital gain from.
9) Insurance – because your property will either be vacant for​ long periods of​ time or​ occupied by people unknown to​ you it​ will be important to​ have insurances in​ place for​ the​ building and​ the​ contents.
10) Enjoyment – and​ last but not least, once you’ve secured your holiday home in​ the​ sun save as​ much money as​ possible so that you can enjoy your home as​ often as​ possible and​ for​ as​ long as​ possible! After all, you deserve the​ time away from work.

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