Why buy a foreign property?
Why indeed! Especially after reading some of the tips and advice which have been offered to you here. It looks like a logistical nightmare. However, if you are prepared to take your time, appreciate that your dream property will not be finished the next day and accept that there are different ways of doing things overseas, then you will find buying a property overseas one of the best investments you can make.
As egalitarian as this site is, we understand that money will play a large part in the final decision. If you do not have enough money to afford your overseas dream home then it is probably best to save up and buy elsewhere. Under no circumstances should you attempt to burden yourself with a huge debt you are unable to pay off just to live in the sun for a couple of weeks a year. The after effects could be catastrophic. Remember also that like in the UK, house prices can rise as well as fall. If you are too far in debt and your house is in negative equity abroad, not only could you lose your house overseas but you may also have a fight on your hands to keep hold of your UK property.
However, for most people who do their homework, carry out their research and prepare for all eventualities, then you will enjoy your property abroad and it will give you great pleasure for many years to come.
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