Investment

While investing, you can buy a holiday home in the right place. Buy what you want to buy. The most important decision when buying a property is deciding exactly what you want the property to do for you. When you are considering investing in a buy to let property you first need to decide what your rental income is likely to be, how much capital you intend to invest in the property and for how long you want to invest.

Many people go to dedicated overseas property exhibitions or go on overseas trips or "inspection flights" to view properties. It is important to stay focused on what you originally had in mind.

Nearby your location should be found shops, restaurants, and facilities. Most people who want to use a property as a holiday home will want to be near shops, restaurants, and other facilities. This is particularly important if you want a rental income from your investment.

You can consider buying in an up-and-coming area. This will increase your capital appreciation. Buying in the fashionable areas of Spain or France means that property prices are already expensive and may not increase much further, or increase at a slower pace than in the past. Buying in a less-fashionable area of Spain or France, or in the up-and-coming property markets of Bulgaria, Turkey, and Croatia where prices are still low will increase the chance of a rapid price increase. It is important to note that the less-fashionable and up-and-coming areas still need to have all the virtues of the more established destinations.

An airport nearby is also important. Also is public transport availability. People who rent property will want somewhere that is easy to get to and will often gravitate to those places with a nearby airport.

Always think of buying a property in a place that is popular with locals as well as tourists. You should always think of the exit route from your investment. The day will come when you want to sell your property and you will want to have the largest possible potential market. Ideally your investment property should be an attractive property for investors of different nationalities as well as a possible home for local residents.

Be careful buying off-plan. Off-plan involves buying a property before it is built. You cannot see exactly what you are buying and it can be a long time before the property and surrounding development is completed. Problems can arise if the building is not constructed according to the original schedule.

The property and area might look lovely in summer when all the restaurants and bars are open. But what about winter? Do all the facilities close?

A view is a major bonus from both the rental and the resale perspective. A sea view is top of most peoples list but rural or mountain views can be just as stunning. Nothing beats sitting on a balcony or roof terrace wathcing the setting sun. Beware though that views can change and your beautiful view could be replaced by a view of a new concrete apartment block.

Check the inheritance laws of the country where you are buying. You may need a separate will made in that country as well as a will made in your home country. In France for example your children automatically inherit your house; your estate does not pass to your spouse.

Learn the language of the country you are buying in. You don't have to become fluent but you should learn as much as you can.

Allow 10% extra for expenses. The cost of buying a property abroad (taxes, conveyancing, lawyers fees, agents fees, VAT, etc.) can be much higher than in your own country. The total can add up to 10% to the cost of buying a property.
It might be a great idea to use your idle property as a collateral to probably get another property if in case at present you can’t think of any profitable use for it. Unlike insurance and pension plans, real estate is a fixed asset, thus, it is a safe investment. The concept here is to get additional income out of your property’s worth and make it earn interest for you while paying for monthly installments.
The most important step is turning your property into something profitable.

Renting out your property to others is one way of making it productive. Look for a real estate investment with a good rental yield. Double paying your property mortgage payments and reducing your consumer credit and debt is a great factor in regaining power over your financial capability.

Whether the need for extra savings is sooner or perhaps a little later, the idea always work to the advantage of real estate property owners who act on it even before a pressing financial problem arises.

Do all you can to effectively manage your finances each month then spend your money more effectively. Convince yourself that you are in control of your own business and that you are in control of yourself and your life, your family and even your own expenses. Monitor regularly your monthly finances and analyze your monthly cash flow.

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