Category: General Property Buying Advice

Seven Top Tips for Selling your Foreign Property

The time may come when you want to sell off one or more of your property investments, or perhaps you are selling a house in your own country to move abroad. Either way, you’ll want to try and attract top prices for selling your property. Wherever your property for sale is, there are a few tips that work around the world.

Here at BuyingForeignProperty, the team have come up with their top tips for getting your properties in tip-top condition to help them sell quickly, and for a good price.

How to find a good real estate attorney

Hiring a good real estate attorney is one of the most important things you can do in your foreign real estate purchase. It is important to find one who is conversant with not only local law, but also is familiar with laws in your own country, particularly in areas such as tax, so that you lessen your liabilities and are kept on-track. Although attorneys may feel like a lot of money, a good attorney will be well worth the expense.

Golf Resort Property Gems

If the British Open has recently inspired you to dust off those golf clubs only to find the rain has washed the golf course out, perhaps buying a property in a golf resort abroad would be a good investment for you.

Spain and Portugal are both popular destinations for European golfers, but other countries are starting to catch onto the golfing theme and golf resorts are popping up all over the world.

Club together to buy your home in the sun

There are increasing numbers of people buying homes abroad together for a number of reasons. But is it always such a good idea?

The good
Buying together makes sense – it cuts both of your costs, you are more likely to buy a suitable property and it tends to feel as if it’s less risk. If the house is only to be used as a holiday home, it will tend to get more usage than if there was just the one owner; If the home is to be rented out, many people feel there will be a better chance of finding tenants if the property is bought jointly – many joint owners do not want to use agents and tend to put notices up in newspapers and on the internet; having more than one owner means the workload is spread-out.

Why Northern Morocco could be the next big thing.

Having spent the last few days in Morocco and around 6 months researching the market I feel a bit more qualified to put together my views regarding the potential for capital growth and future yield potential in the real estate development market.  I am going to concentrate on the area around Tangier but new developments springing up are situated in Saidia near the Algerian border and along the Atlantic coast. Conservative estimates of 15% growth per annum for the next 5 years and double digit yields are really possible.

Overview

Buying with friends

Buying a foreign property with friends can be an excellent idea – not only does it halve the money you have to put in, but you can both use it as a holiday home if you want to. However, the old adage ‘never mix business with pleasure’ holds true – you need to think about the future and what happens if you fall out with each other, or you each have different ideas of what to do with the property in a few years time.

Broom-cupboard living

Property in London is so scarce that broom cupboards are quite literally being converted and sold as flats.

One of the smallest properties in the capital is in the sought after area of Knightsbridge – a stone’s throw away from Harrods. The flor plan shows that the square footage of the flat is a tiny 88 square metres – about the size of a baby’s first room. To live in the flat, you must get used to the space-saver way of living – you must shower whilst standing on the toilet, and your bed is on top of your wardrobe – although there’s only small between yourself and the ceiling, so you must watch your head!