Knowlesrealty

Are you sure you want to live there?

I recommend that you make sure that you want to live in a place before you buy a vacation or retirement home there. I have worked with a large number of ex-pats that have fallen in love with a place while on vacation and bought a house there to retire. When they later move down to their retirement property they find that they don’t really like living there.

What to avoid?

, how to finance your purchase and how to protect yourself from being scammed. A lot of my advice might sound paranoid but a property transaction involves a lot of money and it can be good to be a little paranoid. An honest real estate agent will not take offence to you using these practices to be safe. Your guiding principles when looking to buy a property abroad should be, “buyer beware” and “trust but verify”.

Can I make money on my property?

Yes. It is possible to get a positive cash flow from your property abroad by renting it out. How much you can earn depends on where it is and what type of property it is. Some properties such as buy to rent properties can be very profitable. It is not unusually for properties abroad to make more money than what you are paying for the mortgage on that property. With that said.