Overseas Property Advice

Overseas Property - Buying An Overseas Property

This is a follow-up article to property abroad considerations, posted last week. In this article I intend to point you towards a few key pieces of advice when buying an overseas property. Think of it as a basic checklist to consider before buying a property abroad or any overseas property investment.

Before you start ask yourself some basic questions about the locale you wish to live in overseas. Its not simply a question of buying any property in Spain and putting up with the elements of the area that don't suit you. You must research the location for your overseas property thoroughly.

Basic location considerations could be as follows:

Overseas property in a town/city or do you prefer life in the country? Think about it and compare it to your current living conditions. Its all very well buying a villa in Spain 40 miles from the nearest town, but if getting around is going to be a problem, forget it. On the other hand perhaps it is peace and tranquility you seek. Its best to decide on this before you begin your overseas property search.

A seaside overseas property or landlocked? Another factor in deciding your location, apart from town or country, is the proximity to the sea. A major flaw with British investors in overseas property is the "holiday syndrome" of being near a beach or popular area. If you are planning to reside in your overseas property full-time, or even most of the year, then remember living there permanently is a lot different from a two-week holiday in the summer. Overseas properties near the coast and especially beaches are becoming increasingly expensive whereas you may save substantial amounts by buying an overseas property inland. even 20-30 miles from the coast can make a huge price difference.

Is your overseas property near a town? No? Hmmm.... generally not a good idea unless you are planning on keeping your property abroad for life. This can make a huge difference to potential buyers of your foreign property in the future. Simply put, its a wise idea to buy a property abroad that is within one hour of the nearest town with reasonable facilities. Most people dont have a problem driving for an hour once a week or so, but if your property in Spain in a two hour drive down dodgy roads to get to the nearest supermarket, it may cause problems for future property buyers.

Does your property abroad have a big garden? Again, take this into consideration depending on whether you intend to sell your property in the future and combine it with your own requirements. You may want a large garden or perhaps you're not the gardening type. Many people, especially in the countryside, prefer a reasonable about of space around their home. However this should be taken into account for all properties, even if your overseas property is located within a built-up area. This is particularly true if you prefer to have/not have neighbours.

Public transport from your property. Perhaps not relevent to you, but to others it may well be. Is your Spanish property on a public transport route? Are you able to get around if your car breaks down? You may save money on more isolated locations when buying a property abroad, but this is how it is paid for in the future when you come to sell. It's also a factor that will affect your day-to-day life. For example, are our teenage kids able to get to the beach/town/etc without you driving them there? If they can't they may drive you round the bend!

How far to the nearest international airport? This is a crucial element with your new home overseas. The further away it is from an airport with UK flights the more you will save on your initial investment. It could also mean an increasing pain for you to drive 3 hours back and forth on Spanish roads every time you visit your overseas property. If its going to be a holiday home used 2-3 times per annum, then take the distance to the airport into account.


How far are the nearest holiday facilities? By holiday facilities I mean things like tennis or squash courts, swimming pools, parks etc. It will be more important to access these if you are either living full-time in your overseas property or renting the property abroad out to holiday-makers. Lets face it, if you rented a villa for 2 weeks in Spain wouldn't you like a pool or at least access to either a pool or the sea?

I have just scratched the surface with the basic points but they are all valid and should be considered in line with your own ideas before you buy your overseas property. They will change depending on your purchase and whether your property abroad is for investment, profit, a holiday retreat or a permanent home. Take these points to heart and talk about them before you buy your overseas property.