What types of overseas properties are available?
There are many different forms of overseas properties available to buy, from farm houses in the Catalan countryside through to luxury apartments in Sydney or New York. It is important to consider a number of factors when choosing a foreign property and only then factor in the issue of cost.
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It is important to understand why you want to buy a foreign property. This should not be a decision that is taken lightly, as it could have repercussions for most of – if not the rest of your life. Is the overseas property an investment or somewhere you intend to live in yourself? If it's the former then you will want property that is in a picturesque area which will attract others to stay. This may be a European destination such as on the Balkan coastline or in Provence or Tuscany, all of these places are popular with UK residents.
Are you planning to live there for a long time or is it just a stop-gap between jobs? If you intend on staying for an extended period, it may be best to try and put down money for a mortgage in a house in the new area you are in. An example of this may be if you are working in Paris or Moscow as part of your job and need to purchase property because you will be there for a long time. If you are using the experience of being abroad in order to do some travelling as well, then it may be best to rent an apartment or small flat on a three month lease deal, ensuring that you give the landlord enough notice of your intentions before the lease period is up for renewal.
There other types of proerty such as commerical property. England has many different office spaces which are in great locations at affordable prices. If you are looking for commercial property then Reading office space could be the place for you to rent or buy.
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Do you have a young family or are you an elderly couple? If so then it is best having a bungalow or small house close to a bustling city whereby you are not too far from support if you encounter problems. It is not ideal to purchase a property in the Alps if you have problems with mobility. Likewise if you are in poor health, then buying properties to live at in places like Tenerife or South Africa may be ideal as the warm weather can improve or curtail some health problems.
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