10 Tips For Buying Overseas Retirement Property | Le Marche Properties and Accommodation | Scoop.it

Kathleen Peddicord

[...] If you decide to invest in a new home of your own for your retirement overseas, here are 10 things to consider first:

  • Tip #1 - How much space will you need? Do you want an apartment or a house? One bedroom or two? (You probably won't need more than two.) Two levels or only one? A guest room or even a guest house? Will you have guests often, for example? Will you want them to be able to stay with you, or would you prefer if they came and went from a hotel nearby?
  • Tip #2 - Do you want a front yard, a back garden, or a swimming pool? All of these things require care and maintenance.
  • Tip #3 - Do you want to be in the heart of downtown or out in the country?
  •  Tip #4 - Do you want a turn-key, a renovation project, or something in-between?
  • Tip #5 - Do you like the idea of living in a gated community, or would you prefer a more integrated setting, such as a neighborhood where you could become part of the local community? This is a key consideration. Going local means you have to learn the local language (if you don't speak it already). Or perhaps you'd prefer to be off on your own with undeveloped acres between you and your nearest neighbor. In this type of rural setting you will need to build your own in-case-of-emergency infrastructure.
  • Tip #6 - Consider traffic patterns and transportation. Where you base yourself determines whether you'll need to invest in a car, which is an important budget consideration.
  • Tip #7 - Consider the convenience factor. How far is it to shopping, restaurants, nightlife, parking, and the nearest medical facility?
  • Tip #8 - Do you want a furnished home? You may have no choice but to buy unfurnished (unless you buy, say, from another expat who's interested in selling his place including all contents). Buying unfurnished means you'll need to purchase furniture locally or ship your household goods from home.
  • Tip #9 - What's your budget? This is the most practical guideline of all, of course. Be clear on your finances before you start shopping, and, if your budget is strict, don't be tempted to consider properties outside your price point. You'll only be disappointing yourself unnecessarily.
  • Tip #10 - Finally, ask yourself what kind of view you'd like from your bedroom window each morning. This can be an effective way to focus on something important that might otherwise be overlooked until it's too late.