Some Things You Need to Consider Before Buying a House Abroad
Moving to another country is, more often than not, a long and complicated process which requires you to carefully consider so many things. You need to find a reliable long distance moving company, you need to learn something about the country that you are moving to, you have to find out the easiest way to find a job there… but, most importantly, you need to decide where you are going to live once you move to the country in question.
Are you, perhaps, already somewhere in the middle of your relocation process? Have you decided where you want to buy a house that will soon become your new home? Before you reach the final decision, you should remember that buying a house in a foreign state is often a lot more difficult than buying one in your own country, where you are familiar with the way everything works. That’s why we have prepared a short guide for you, so read on to learn about some most important things that you must plan carefully before you choose your new house.
The first thing that you need to check is whether or not you actually have the legal right to own any kind of property, for some countries limit real estate ownership by foreigners. If this is not the case in your country, such scenario probably didn’t even cross your mind, but My International Movers are here to remind you to be extra careful with property regulations. We advise you to hire a lawyer who will watch out for any possible legal problems, so you’ll avoid getting into trouble.
However, do be aware of the fact that you will need more professional help – don’t forget about the real estate agent. Yes, you’ve probably heard about that friend of your friend who has bought a house somewhere overseas directly from the owner and everything was done smoothly, but ask yourself: are you ready to take such a huge risk and make such an important purchase without the real estate agent?
Besides being complicated and tiresome, buying a new house is also exciting. You are probably all enthusiastic about your new neighborhood which is exactly what you have always dreamed of. But, don’t let all that enthusiasm make you forget to check the real estate market and foreign exchange rates. You should also explore the taxes. Of course you’ll have to pay taxes wherever you go, but don’t rush and buy a house without previously exploring this question in detail.
Furthermore, you need to consider the cost of living in the area to which you want to move. Find out whether you would be able to afford living there, because some basic necessities, such as food, transportation, medical care etc. might be much more expensive than in your current city. In case you realize you could barely make ends meet with those prices, then you should reconsider your decision to choose that particular area and start searching for a new one.
Moving on, we would also like to remind you that you should double-check the security of your new neighborhood. Everything might seem bright and shiny at first look, but it’s your task to do some research and make sure that you are moving to a house in somewhere where you’ll feel safe. You can always find some information about the crime rates which are a good enough indicator of how safe the neighborhood in question is.
After you have checked that the part of the city you will move to will provide you with security, you should explore which amenities it provides you with. Is there a park nearby? Or a supermarket? A restaurant? Sports facilities? A bus stop? Just stop for a moment and think of the things that you cannot imagine living without and then make sure that those are available to you in your new neighborhood.
If you are moving to another country with your family and you have children (or you want to have them one day), you should also think about their education. Check to see if there are some high-quality schools in that part of the city. More importantly, think about medical care. It’s always better when you know that there is a hospital or some other medical institution nearby.
Finally, even if you are not planning to return to your country or move anywhere else once you buy that house of your dreams, you should have a safe “exit strategy”. Let’s face it, no matter how well we plan something and how firmly we decide something, sometimes things just go other way. You never know when and for what reason you might be forced to leave the house you are now buying. Thus, you need to have this possibility at least in the back of your mind and consider what you should do in case that happens and avoid any potential inconvenience and major financial loss.
As previously mentioned, buying a new house and starting your relocation process can be rather complicated and you might come across some unpredictable problems and inconveniences along the way, but you can also prevent them. Remember the things that we mentioned in this article and your purchase can really be a dream come true, instead of a nightmare. We hope you’ll find the tips useful and that you’ll enjoy your new life in your new house. Good luck!