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    John Allen

    Business Development Director

    T: 07535 917486

    E: john.allen@prestigeandvillage.co.uk

    Valuations Login

    Prestige & Villa Estate Agents - Now is the Time to Buy Luxury Property Overseas

    Work-life balance is something many people struggle with, and it’s no different when you live in one country but want to live your life in another. For expats and business travellers who are working overseas but want to travel back home from time to time, buying luxury property overseas can be the ideal solution. We take a look at why now is the time to buy luxury property overseas and what you should consider before doing so.

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    Why Invest in Overseas Property?

    Investing in overseas property makes sense for a lot of reasons. First, you’re diversifying your portfolio by investing in more than one country, which reduces your risk when something goes wrong with one of your investments. Investing in international property can also open up opportunities for double-taxation relief, but be sure to talk it over with a tax expert before committing to anything. In short, there are a lot of good reasons why you should buy luxury property overseas. If you need help making an investment plan that suits your unique circumstances and goals, get in touch with an overseas estate agent specialist today!

    Tips Before Buying an Overseas Property

    If you’re thinking of buying a villa in Spain, France, or Italy, you might be wondering how difficult it will be, what pitfalls lie ahead, and if there are any other hidden costs. Here are some helpful tips for buying luxury property abroad. These include choosing which country to visit, determining where your ideal spot would be in that country, and knowing how long you need to stay. Other considerations include insurance fees, taxes, and currency exchange rates; all of these factors will affect how much your dream home truly costs when you look at your total bill at closing.

    The Important Things Before Going Abroad

    First, before you buy luxury property overseas, it’s important to thoroughly research the country. The last thing you want is a property in an area that’s not as desirable or safe as you initially thought. If you’re buying an existing property, make sure it’s been well maintained and has been carefully renovated by a reputable company. Second, make sure you look into financing your new purchase. Do some research on what mortgage options are available for overseas properties and speak with lenders beforehand so there are no surprises once you’re ready to make an offer on your new home. Lastly, make sure that your purchase follows the rules for foreign ownership and that you know what could happen if you do business abroad.

    Things To Do When You Are There

    Take full advantage of your home exchange location by visiting as many surrounding areas as possible. For example, Brittany in France is well worth a visit. Taking holidays abroad is important when considering relocating. You need to fully understand if that country suits your needs. If you find yourself travelling more than five days per month, it would be advisable that you choose a location where there are plenty of day trips and things to do locally. The benefit of choosing a particular holiday destination within Europe means that their local currency will almost always be stronger than their own. As such, everything in these countries will work out much cheaper when paid with euros or pounds instead of British pounds.

    On-Going Investments

    How do you know if you should start looking for a luxury property abroad? In general, if your primary residence already has a significant amount of equity and there are uncertainties regarding future conditions in your country (such as increasing taxes), now could be a good time to make an investment. However, if your home country shows positive indicators on a macroeconomic level (e.g., low unemployment) or you’re feeling confident about your potential earnings, wait until local real estate prices have gone down before making an overseas purchase. There are many positive signs that indicate it’s a good time to buy property overseas, but it’s best not to jump into such decisions without proper research and planning.