Who hasn’t ever dreamt of living in another country? Those who travel a lot have probably fallen in love with dozens of places. Imagining what it would be like to live there. The thing is; not all of us can leave our lives behind in our home country. Which is why so many people buy holiday homes instead. This means you can live abroad when you’ve got the time off work. While still renting it out when you have to stay home. It’s a win-win situation! Here are my top tips for buying a holiday home overseas.
Where is it you want to buy a home? You need to do some pretty intense research before making a decision. While you may have fallen in love with South Africa, is it really the best place to buy a second home? You can find out a whole load of statistics about the area you’d like a holiday property in. Including what the weather is like, whether there is any crime and a whole lot more. It’s also a good idea to see how much people rent their properties out for, in the same area. You’ll then know how much profit you can make when you’re not there.
Find a Realtor
Next up, you need to find an agent in the area. They’re going to be the experts when it comes to properties in your chosen city. For example, BHHS Fox & Roach Realtors would be able to advise you on properties in certain US cities. Your agent should have excellent knowledge of the local property market and all of the amenities in each city. They will then be able to search for the kind of thing you want. Make sure you give them plenty of information on what you’re looking for. How many bedrooms do you need? Would you like a swimming pool? Does it have to be close to the airport? All of these things will ensure your realtor can find the best properties for you.
Buy Your Holiday Home
You should have now been to see several properties in your chosen city. Or at least been sent photos and specs by your realtor, if you can’t get over there. It’s now time to take the plunge and buy that holiday home. Depending on the country you’re buying in, there may be certain laws and fees to take into consideration. Make sure you’ve accounted for these before signing on the dotted line. You now have your very own holiday home.
Renting it Out
When you’re not able to stay in your new home, you’re going to want to rent it out. There are dozens of websites that allow you to put your property up for rent. It’s a good idea to find someone you trust who lives in the area. They will be able to manage your holiday home while it’s being rented out. Meeting guests, organising cleaners, that type of thing. Don’t forget to pay them for their time!
Now all that’s left to do is enjoy your new holiday home. When it’s being rented out, you can use the money to save up for your flights. Book two weeks off work and jet off to live it up in your new house.