Advantages and disadvantages of buying property abroad

Purchasing real estate is always an important step for every person. When making such purchases abroad, first of all, you need to determine for yourself what goal you are pursuing. Namely, the purchase of real estate objects for year-round use, the acquisition with the desire to periodically stay (for example, vacation several times a year) or want to rent out your property.

When purchasing real estate in Bulgaria, you need to:

choose a property for purchase, you can choose to do it yourself or by attracting specialists https://hata.co.ke/46-open-space-for-sale working in real estate agencies;

obtain official permission to purchase from the relevant organizations; make settlements with the seller and documenting.

Your goal is year-round living and holidays abroad

If the goal is to be able to live or vacation in a country you like, and not to make a https://hata.com.gh/278-church-for-rent profit, it is very important to pay special attention to the quality and location of housing. When making purchases of dwellings in picturesque resort areas, people from 37 to 60 years old predominate. They occupy a high social position and their income level is much higher than the average, and this category of people acquires houses or apartments for life in old age in a beautiful, calm corner of the world.

Another large niche among the buyers of such objects is occupied by public people.

Such an acquisition allows you to live in pleasure away from the ubiquitous prying eyes, acquire world-famous stars as neighbors, and improve your social status. The main advantage of acquiring objects (villas, apartments, houses) abroad is the large amount of profit received from this kind of investment. The impact of international economic crises, the instability of the political and financial situation in the world led to a significant decrease in the value of real estate in a large number of foreign countries.

You want to invest in property abroad

Many people who have knowledge of supply and demand in real estate markets on an international scale are betting on such price reductions. They buy real estate for little money, with the aim of reselling it. Indeed, after the stabilization of the economy in this country, prices for real estate will increase – these people will be able to get super profits.

Investment in real estate located abroad guarantees the safety of investments and their growth.

You need the status and documents of a resident

The advantage of acquiring overseas housing is simplicity and affordability. The high professionalism of employees of real estate agencies abroad allows you to process the entire package of documents quickly and easily. An important advantage of buying a home abroad is the provision of a residence permit, which will allow the owner and all members of his family to freely stay in this country.

The main disadvantages of acquiring real estate abroad are the following:

– the emergence of the need to make tax and utility payments. If the property is purchased and rented out, then paying taxes and paying utility bills takes a significant part of the profit;
– the high cost of maintaining the purchased property – if you do not live permanently in the purchased house or villa, you will have to hire a manager (he will look after the house in your absence), as well as security (if necessary);
– you must carefully study the rules of residence in a particular country. So, in some countries that are members of the European Union, the owner of real estate receives a visa, in accordance with this, he has the right to reside only 90 days in this country in six months;
– the high cost of the trip;
– a certain the probability of meeting with scammers. At home, due to the absence of a language barrier and a good understanding of legal norms, it is easier to resolve all kinds of conflicts;
– a high level of risk of overestimating the value of the property that is being purchased Being at a distance of thousands of kilometers it is difficult to take into account all the nuances and factors.