10 reasons to own a home abroad

1. It’s all about the money, honey!
Property is a great investment. Ownership of a home overseas will provide you with an appreciating asset that could set you up for your retirement.

2. For a holiday home
You'll never have to worry about accommodation again – you can go whenever you like without worrying about hotel bookings.

3. To rent it out
Even if you don’t stay there, you can always lease it. This way, you get an income which pays the mortgage you have taken out to invest in the property.

4. To be a true citizen of the world
Owning a home abroad gives you that extra edge over any well-travelled person. After all, who cares about how many stamps you have in your passport when you own a home abroad? In many cases, it also grants you permanent residency within that country.

5. It’s exciting
Owning vacation property abroad would also allow you to invite over your family and friends and have a blast for as long as you want.

6. To send relatives there
Don’t want annoying relatives coming over to your place? Send them to your OTHER place and they’ll be out of your hair in no time!

7. To stay on top
Owning property abroad will put you top of the popularity charts, leaving the Joneses burning with jealousy!

8. It’s great for kids
If you have children, then buying a home aboard will give them a multi cultural upbringing, not to mention the fact that they’d probably be the coolest kids on the block.

9. For some fun in the sun
Having an overseas property in the sun can be a great escape. Find your own slice of sandy heaven on a beach in a warm location.

10. To retire
If you’re hitting retirement soon, then escape the rat race, immerse yourself in a more laid-back culture, and just relax!

We know we’ve got you all psyched up to buy your property abroad, but before you take that step, here’s a few things you should keep in mind.

Know why you’re buying
Although this may sound obvious, it is possible that you are being seduced into purchasing property that doesn’t deliver what you want.

Don’t be alone
Consult with reputable agents about various developers before you make a decision.

Study
You don’t have to go back to school for this. Studying all about the country in which you want to buy property is imperative. Going there first on an extended vacation will help as well.

Buy in a place that you like
Buy into a place close to your heart and the profit you make will be all the sweeter.

Buy in an up-and-coming area
Buying in emerging property markets where prices are still low will increase the chances of a rapid price increase.

Become a profiler
If you plan to let out your property, think about where you are buying and the tenant who is likely to sign the lease. For instance, studio flats work well in cities because people are more likely to consider a pied-à-terre from Monday to Friday.

Take notes
Make a list of the must-haves in your property so that you can narrow down which investments suits your taste and purse strings.

Get a lawyer
It is important to be fully aware of the legal process and costs involved in your property purchase. Obtain professional advice and check your finances ensuring you take account of these additional costs.