Is it worth buying housing abroad: pros and cons of

Increasingly, many are thinking about buying real estate abroad. First of all, in some countries this is an opportunity to get legal entrance to the country at any time. Also, if the country has sustainable legislation, then this is a good investment. Well, it’s no secret to anyone that in some resort zones abroad real estate prices are much lower than, for example, on the Black Sea coast. If you decide to get real estate in another country. Then, first of all, answer your question: for what purpose? Because if you need a house or an apartment for a beach holiday, this is one, and if for rent or subsequent resale, then it is completely different. Let’s look at the main points of such a purchase. First of all, regardless of the purpose of the purchase, you must study the legislation that regulates the purchase of real estate by foreigners. In some countries, property ownership does not give the right to free entry into the country. Another point, when buying real estate for further resale, you should not buy it in countries where there are a lot of undeveloped territories. Such countries include Bulgaria, the UAE, Egypt. If you want to invest in the real estate under construction, and then resell, then be sure to find out how many such objects are already ready for sale and have been sold. Such information can be provided to you by local real estate firms. Naturally, for this you will have to go to the place personally and you should not hope for intermediary firms that will give information that is beneficial to them. Also, be sure to learn about real estate taxes, which may differ for citizens and non -residents. Be sure to pay attention to the cost of living, in general. Life in European capitals is getting more expensive every year. And in towns a little away from pompous resort and real estate, and prices for various products are much less. And of course, the purchase of real estate abroad can be considered not only as an investment, but also as a place to relax. In the future, you can save very well on accommodation. In some countries, real estate prices are rising very quickly. Therefore, if you purchase real estate only for relaxation, it is not necessary to hand over it for the time of your absence. Next year she will rise in price and will make a profit anyway. And of course, in order to understand the real estate market of a foreign country, it is worth living there for yourself.

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