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Buying Your Place In The Sun
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So you have decided that you want to buy a vacation holiday home, perhaps you have just been on holiday somewhere and really liked the place and decided that something more permanent would be desirable. There could be a multitude of reasons for this, you have a young family and want a permanent home abroad to take them and save on hotel bills or renting a holiday home. Maybe your nearing retirement and are looking to put down roots for your planned move. Perhaps your looking for a long term investment. No matter what your reason there are number of factors you should take into account before you purchase any property and number of factors you have to take into account. These factors will limit your choice of country or place where you want to buy.

The main thing to consider is Finance - how much do you have to spend, or will you need a mortgage or a loan to purchase the property. Will you need rental income from your holiday home to cover the mortgage or loan repayments. If the latter is the case then this will limit your choice of destinations- there are not that many places that have a 12 month rental season and even if they have, how close is the nearest airport and how good are the transport links from the airport to your vacation property. Are there direct flights to your holiday home, from where you live or other countries. How easy or hard is it to get there. The rental season and accessibility to your holiday home are vital factors to rental income.

So lets assume you have the finance, the weather throughout the year (which largely dictates your rental season) and transport links to the holiday home are regular. You have chosen a country and a local area within that country. Next thing to consider is the facilities on offer within the chosen local area, main thing here is food, we all have to eat, so shops or restaurants near are a must certainly within a mile or so. Not everybody will want to drive in a foreign country. Some places will have gated resorts which are fine for families with young children who are happy to sit about the pool all day but personally I feel some of these places miss out on the local culture if they are too remote. Ideally an apartment close to a small village with a large town nearby for day excursions is a good combination.

The actual size of property you buy is very important, if you buy a house with say a pool then it will more expensive to have the grass cut and pool cleaned than say an apartment within a small complex where these costs will be shared. Its a fact that a two bed roomed apartment is the most rentable size of property and most cost efficient to maintain.

Finally be wary of buying off-plan from a developer or "internet property agents". I think its best to see a built finished property and buy from the previous owner (through the proper legal process of the specific country).There are always problems with new developments that are usually sorted out after a few years of being" lived in".

Now with global property recession behind us is a great time to buy your place in the sun.


Street Talk

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