5 Tips for Overseas Vacation Home Buying Success by realestatetips4u


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           5 Tips for Overseas Vacation Home Buying Success

The dream of owning a vacation home in some sun-drenched overseas location is one the
majority of us share, and because real estate proves itself time and again as a solid long term
investment commodity, many more people are committing to purchasing real estate abroad as
an investment that they and their family can also enjoy and benefit from.

When buying a vacation home abroad there are a number of key considerations to bear in
mind to avoid some of the traps and pitfalls sometimes associated with buying long distance
and in an unfamiliar country. With these 5 tips for overseas vacation home buying success
you can quickly cut a swathe through the research process and move towards securing the
dream swiftly and securely.

Tip One – Learn the Rules and Regulations

Different countries have different rules relating to the right or otherwise of foreign citizens to
own the freehold title to immovable property. Some widely publicised destinations don't allow
foreigners to directly own the land on which their property sits (Bulgaria) or more than one
property (Cyprus) for example, and some countries are less economically or politically stable
than your own which can mean that real estate related rules and regulations may change in
the future. Make sure you're comfortable with the workings of the country you're considering
buying a vacation home in, and if in doubt seek professional advice about that country and the
ambitions you hold for owning a holiday home in it.

Tip Two - Good Investment/Bad Investment

If you're buying a vacation home with a hope that it will go up in value and be not only a family
retreat but a great asset, know that real estate, just like any investment commodity, can go
down in value as well as up. Furthermore not all countries have a real estate economy the
same as the one in your own country – a little research would be wise into the historic nature
of the property market in your country of choice as well as predictions for its future. While
such data is not a direct indication of how well your investment will perform it will arm you with
more data to hopefully make your decisions easier.

Tip Three - Title Deeds and Legalities

Legal systems and the title deed registration process differ from country to country therefore
know your legal rights and try and find out about the essential searches, surveys and title deed
checks that need to be conducted before you should commit to buying your overseas vacation
home. Never enter into any form of contractual agreement without the direct assistance of an
independent lawyer and never accept someone's word that a vacation home has its
permissions and title deeds valid and up to date. Insist on seeing and checking all important
facts and data before signing on the dotted line.

Tip Four - Accessibility and Desirability

If you're thinking about making an income from your vacation home or even hoping to holiday

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                     Discover 101 Amazing Real Estate Tips and Secrets

in it yourself regularly, one of the most important factors to bear in mind is the accessibility or
otherwise of your vacation home. If your real estate is difficult to reach, with many miles to
traverse and complicated and expensive plane journeys to plan, then it will just become a less
desirable commodity over time. While a vacation involves getting away from it all and escaping
every day life, a vacation destination and home should be easy and affordable to reach.

Tip Five - Enlisting Assistance

Consider enlisting the help of a reputable real estate agent, an independent lawyer and if you
want to make money from your vacation home, a property management service. Such
professionals can save you time, effort and money and they can make the whole process of
buying and owning a vacation home that much simpler. Make sure you take references,
examine credentials and see qualifications before employing anyone to assist you however,
and if at all possible seek recommendations because anyone who does a good job will always
get good press!

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