Tips when looking for property abroad

Whether you are investing in your first property abroad or you are moving and you need to find a place to stay before you get there, buying or hiring a property in a different country can be quite a difficult task. Not because you can’t find any potential properties, but because everything is different. You don’t know the neighbourhoods, chances are that you are not overly familiar with the culture, and it might not be obvious whether you are really getting the property you want or not.

 

Research

If you have accepted a job offer in another country, it will determine the in which you should consider buying or renting a home. Some research about these areas is very important. Google them and then look at the different neighbourhoods. Decide what your needs are and find the neighbourhoods that meet those needs. Facebook is also a great place to do some research. There are expat groups all around the world and chances are that there will be one for the area that you are moving to as well. Join the group(s) and ask for advice. The advantage of these groups is that they are filled with people that have been in your situation and know exactly what you are going through. The advice they can give you is valuable and can make the whole process easier for you.

 

If an offshore investment is your reason for looking at houses abroad, you will need to do a lot of market research to find the right place to buy. Be sure you understand the state of the housing market in the country you want to buy in, and that the stability of the country is what you are looking for. Make sure you understand all the laws and requirements applicable to foreigners wanting to own property and that the currency exchange rate is manageable for your budget.

 

The right property professional

Buying property overseas is a big undertaking and having the right assistance by your side is invaluable. The right property professional will be someone that fully understands the situation  and country you are in as well as the country you are buying property in. They will have completed international property transactions before and can knowledgeably walk you through every step. They will also be able to help you understand the market you are buying into and give you the right advice about the areas you are looking at.

 

When you are deciding on a property professional to assist you, be sure to do your research on them first. Are they a well-established firm and do they have a good track record with assisting clients internationally?

 

Legal assistance

More often than not, you don’t need a dedicated lawyer representing you to handle a property transaction and the conveyancers, usually appointed by the seller, will deal with the legal matters. When the property transaction is international, though, it can be highly beneficial to have a lawyer representing your interests. With knowledge of the local laws and regulations, local representation can be kept in the loop of your dealings and ensure that any potential legal problems are dealt with timeously.

 

Your property journey is an exciting one and when you take that journey abroad it is even more so. At Karis, we are passionate about helping our clients find their dream homes with expertise in South Africa and Denver, Colorado.