Factors to Consider before you Purchase Real Estate Abroad

For many, the idea of owning a second home abroad is a firm life goal. But there’s a right way of making a purchase like this, and a wrong way. If you fail to perform your due diligence, or rush the decision, then you might end up spending a whole lot more than you expected.

Why Buy Property Abroad?

There are several reasons that you might buy property abroad.

To begin with, you might use your second home when you go on vacation. If you’re regularly travelling to the same place, then purchasing a permanent home there might end up allowing you to enjoy your stay that little bit more.

Secondly, a home is a reasonable store of value, in much the same way as gold. If you purchase a home in one year, then you might cash in a few years later.

You can also earn a passive income on your overseas real-estate by renting it out to tenants. Depending on where you’ve invested, this can be a significant source of income – or, it can simply make the purchase that little bit more affordable in the long-term.

What to Consider

Property transactions are notoriously complex. You’ll want to ensure that you’ve checked all of the potential complications before you get the process started. Let’s examine a few of them.

The location

Different parts of the world offer different qualities to would-be property investors. You might have already considered things like the scenery, the weather, and the surrounding amenities. But have you considered things like stamp duties and other additional costs? Only by getting a full view of your total expenses will you be able to make an informed purchase.

Renovation

If the property is fit for habitation immediately, then so much the better. You can move straight in. If extensive renovation is required, then you’ll need to factor in the cost of performing it, both in terms of money and time. It might be that you have a vision for a particular property, and that renovation is part of your plan – but just make sure that you aren’t going to be blindsided by the cost.

The Exchange Rate

When you’re purchasing property domestically, the value of the dollar isn’t a concern. But if you’re buying property using a different currency, then you’ll need to consider the cost of converting, and shop around for the best possible rates. You can use trading platforms on Oanda to keep track of the rates and pick an opportune moment to make the purchase.

Get Help

If you’re unsure of what you’re doing, then it might be worth investing in an outside consultant to offer advice. Property trading can be complex, and even more so when you’re trading overseas. The advice of an expert might turn out to be invaluable.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website. As an Amazon Associate, I earn from qualifying purchases.

You May Also Enjoy

Home and Living

High Quality Modular Homes for the UK

Are you looking for added accommodation space in your garden / on your land? Modular Living Homes by tutumHOUSE offer a new way to live – minimalist in form, rich in experience. “There are approximately 9.6 million homes in the UK with a garden shed, and around 52% of the population owns one.” asgardsss There…
Read More
Estate Agent Talk

The most stressful places to move to in the UK

With more people in the UK moving homes during summer than any other season and the average cost of moving in the UK rising to over £14,000, picking the right place to move to has become more crucial than ever. Luckily, new research from Pay Less for Storage reveals the UK cities that make life easiest…
Read More
Estate Agent Talk

Time-Traveling Estate Agent Sequel Climbs Amazon Charts

A UK Estate Agent Currently Bringing Joy to People’s Lives – Shame He’s Fictional…   Eric Meek, the fictional estate agent created by author Dale Bradford, is back for a second outing in The Time‑Travelling Estate Agent 2, a sequel that is already climbing Amazon’s bestselling time‑travel rankings. Estate agents were recently highlighted as the third…
Read More
Estate Agent Talk

Is it finally time for lenders to back green homes?

Andrew Smith weighs the risks and rewards Property developers are increasingly pitching green homes to lenders; however, with sales cycles slowing down and repair costs rising, is now the right time to back sustainable builds and at what price point is there market demand? Sustainability is continuing to shape our future of construction with the…
Read More
Breaking News

Breaking Property News 24/07/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   OpticWise – digital infrastructure in commercial real estate If your building were a product, how would it perform on the user experience scale?  Week 9: Experience as Infrastructure – Designing for Human-Centric Buildings Welcome to Week 9 of our 52-week journey into the future…
Read More
new build homes colchester essex
Breaking News

UK Housebuilding Falters as Construction Hiring Flatlines

New research from Inventory Base reveals that UK construction industry employment has increased by almost 11% in the past five years, but there has been less than 1% growth in the past 12 months. Inventory Base’s analysis of the UK construction industry shows that in 2024 (latest data available) it employed an estimated total of…
Read More