More and more people are choosing to spend their retirement years in more than one country. Choosing six months in their regular home and another six months abroad. It is a sure fire way to maximize the best weather of each location and experience a little more that the world has to offer. So it is easy to see why lots of people do choose to do it. While some may just rent out a holiday home for the time they are away, there are many benefits to buying a second home abroad. You can have it as you’d like it and live there on the dates that you choose. You could leave it be the rest of the year or even rent it out. So it can even become a little bit of a side investment. So if you are thinking that this kind of thing sounds appealing, here are some considerations to think about when it comes to buying a property abroad.
The location can make or break the decision to buy a house quite easily. First of all, you want there to be plenty of things to see and do when you visit. But if you are considering making it into a holiday home that can be rented, you need to think of visitors and tourists too. Are you close to a beach? Are there shops close by, as well as means of transport? The idea of a remote farmhouse in Italy might sound good initially. But it can be difficult if you don’t really speak the language and are far out from most shops or towns. Somewhere like Tuscany might be a better idea. Then you have more accessible towns, cities and tourist sites, all within commutable distance.
Another benefit to having a property close by to other people is that fact that you will have neighbors. If the property is going to be left empty for half of the year, it is better if you have neighbors to keep an eye on things for you. You could also recruit them in to help with any repairs if they are able, or manage your property for a price if renting it out is something that you’d like.
Avoid a Fixer-Upper
When you buy abroad, unless you know a lot of people and speak the language fluently, then it might be a good idea to buy a home that is in a good state of repair. If not, it can be tricky trying to arrange workmen, especially if you’re not there all the time to oversee things. If the grounds needs a bit of work, it would be simpler to get a landscape architect in to redesign the gardens and pool area perhaps, rather than workmen completely gutting the house.
Like with location, you need to think of what the climate is all year round. If you plan to be there during the peak months, then would there be point renting it out during the cooler months? Or is it somewhere that is warm all year round? All considerations to consider before purchasing.