Shopping for a Holiday Home in the Sun

At the time of the year, once the days are short and the skies are grey, the focus tends to shift towards the summer months when we can escape the daily commuter grind and the realities of the 9 — 5 and have a few weeks outside to lie on a sun-drenched beach somewhere.

But why take two weeks away when you can have a vacation house in sunlight, vacation in it you wanted to and also let it out for earnings supplementing rental income?

If you’re among those increasing numbers of people considering buying real estate for investment purposes, why not combine your investment and get a holiday home abroad?

Purchasing real estate abroad should not be a complex or stressful experience; with this ten-step guide to buying property abroad, you will get the whole process a breeze – and you will be lying next to your very own swimming pool soaking up sunlight before you know it.

1) Country — you may already have had your ideal holiday abroad and understand exactly where you’d ideally like to own a holiday house in the sun if, on the other hand, you are still undecided about which country to buy a second home in you ought to factor at the following factors into your country based research to determine which nation ideally suites your requirements- weather, property prices, accessibility, stability and things to do.

2) Location — with decided on a nation, another challenge is to obtain the most suitable region of the country to target for your holiday home search. Consider whether you would like to be close to the coast, inland, at a city, away from the crowds, in the thick of it, or onto a desert island.

3) Property Type — Apartment, detached villa, bungalow, or rural escape — which property type suits you and also, if you are thinking about renting out your vacation home in the sun, which type of property will be most convenient to rent?

4) Budget — how much cash have you have available to you personally, how much cash is going to be necessary for charges and taxes when buying abroad? Think carefully about how much of your budget you can allocate to purchasing a property and then stick with that figure, do not be tempted to overextend yourself as this can get you into problems and even prevent you from having the funds available to travel and holiday on your brand new property.

5) Assistance — since you are buying in a foreign country you will experience language barriers, different legal systems, and a completely new buying process, therefore, it is best to employ the assistance of a realtor and necessary to secure the services of a lawyer who can guide and protect you through the purchase procedure.

6) Management — whether you intend to let your holiday house or not, you will probably need the assistance of a good management business to be certain your pool is clean, your roofing not leaks, and no one tries to break in your property. Take recommendations everywhere from people who have their next houses looked after by a third party, and don’t be afraid to request a property management firm for references.

7) Income — in case you are going to be letting out your home in the sun for an income learn any tax you will be responsible for on this income and also about any deductions you can choose out of the liability to reduce your overall taxation burden.

8) Investment — in case you are considering holding property abroad for investment purposes look in the buoyancy of industry and ensure that the housing market is capable of sustaining an investment property — some overseas property markets are stagnant and difficult to realize a capital profit from.

9) Insurance — as your property will either be empty for long intervals or inhabited by people unknown to you; it will be important to have insurances in place for the construction and the materials.

10) Enjoyment — and last but not least, once you’ve secured your holiday home in the sun save as much money as possible so you may enjoy your home as often as possible and for as long as possible! After all, you deserve time off from work.