Chancing the real estate market is something a lot of people want to do, but simply don’t have the resources for. Similarly, even trying to find somewhere to live that has the location you want and the price range you can afford is something we rarely see nowadays. It would seem the customer base that you’re most likely a part of just can’t win! And yet, there’s still some opportunities out there for you.
People are very picky over where they want to live, rent out, and spend their holiday. In the same way it can be hard to sell a house that looks unconventional, it can be hard to find a good deal in the real estate market overseas. You don’t want to be stuck in a bad deal in a country you can’t get on with and with no funds to get yourself back home again! However, there’s some questions to have on your side to make sure you’re ready for the commitment. Here’s the best things to think through before you say yes to any deals.
Do You Know the Rules for Tenants?
If you know you’re not up for buying, and you certainly don’t want to squirrel away all of your funds on an overseas house because they’re never a guarantee, try renting on for size. Renting isn’t a bad thing to do, and it allows you to settle in at your own pace to living away from friends and family. When you consider that kind of investment, it’s going to be worth it!
One of the best ways to make the most out of your money is to rent. The same applies when it comes to going overseas to find yourself a home, and it also means you can come back home whenever you want to. Every region you go to is going to have slightly different rules when it comes to tenancy, and you’re going to meet landlords with widely differing opinions over what you have to provide. Know your rights, and make sure you ask all the questions you can.
Most of all however, you should know what to expect. Moving abroad is a huge thing to do, and you definitely don’t want to jump into a decision just because the possibility came up first. Find a place you want to go, make sure it has monthly rent you can afford, and that you know the neighborhood and surrounding areas. Try to take a trip out there before you choose to enter an agreement, and speak to the people who could potentially be living around you.
Do You Know the Well Known Markets?
There’s a lot of housing markets out there, and every country has their own variety of one. But they all feed back into the international stock market, which you can use as a base to scout out the best areas to spend your time and money. So if you’re seriously considering buying a house to live overseas, make sure you’re researching the best areas to go using some financial advice.
Countries like Portugal are ever popular with the housing market, as are most European countries. There’s been a steady rise in the past couple of years or so in the prices of houses, up to 4.18%, showing the country’s improvement since the recession of about 10 years ago. Other countries have received even further valuations, but considering the economy the West is in, these might not be in your price range.
You could also try a little further afield in countries like Indonesia or Lebanon, both of which are noticing are marked improvement of house values and prices falling steadily at the same time. If you’re interested in this kind of places, be sure to check out listing sites like https://www.rumah.com/rumah-dijual/di-area-surabaya-idji29, which allow you to scout what’s available without having to travel and fork out for those expenses. If you’ve got the internet on your side, make sure you use it to connect when you absolutely need to.
Do You Have a Lawyer Who Knows the Terrain?
There’s a lot of lawyers out there, and they all specialize in something different. Thankfully, this works out in your favor. Look into some local lawyers who are experts in moving out to the country of your choice, as you always want to find this expert yourself. Try not to take recommendations from the letting agent overseas, as you could end up in a deal without even knowing it.
Considering a lot of moves these days involve changing borders, there’s a lot of lawyers who know different terrain. You’re in with a good chance of finding someone whose fees you can afford, as well as having the right knowledge on your side.
Can You Reliably Keep Up with Payments?
When you’re living abroad, there’s a greater chance the prices involved in your tenancy are going to go up and down, and a lot more often. Exchange rates change all the time after all, and your dollars today might not be worth as much as they were yesterday. At the same time, you’re going to need to be able to work reliably, as well as keep commuting to a minimum.
So if you’re going to be living in a suburban area, do you have the right transportation around you to make it to work? Thinking about this location aspect before you go might just save your funds in the long run. At the same time, if you work online, are you going to have a strong internet signal you’ll be able to access at all times? Can you pay to make sure it’s always working, or can be boosted? Always take your work life into account before you make any payments on either something you’re renting or buying overseas.
Maybe you should chance the real estate market, maybe you shouldn’t. No one can say for sure except you, so hopefully this post made you consider some good points.