Buying a property
Last updated: 6 October 2014
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Whatever stage in life you are at, you will have some considerations in mind that relate to property purchase.
Overseas Property Ownership
Research has shown that one in four British first time buyers are now shunning the UK market in favour of purchasing property abroad. The erratic UK property market has led to over 30% of first time buyers considering an overseas option, with a further 25% thinking of going the whole hog and moving abroad completely. This can be attributed largely to the high costs of UK housing, making it far harder to get onto the UK property ladder.
The property market is not the only thing thought to be driving people away from the UK. The general economy and the Government’s debt are making people think their money could go further elsewhere.
The need for tailored assistance
For British expats there is an inherent need for assistance when looking to buy a home overseas as generally speaking their knowledge of the market and the process involved is just not strong enough to 'go it alone'.
Maybe you are considering buying a property not to be your primary residence but as a holiday home, a holiday let, an investment, a redevelopment project, or some other requirement. Whatever the circumstances under which you are considering a purchase, you will almost certainly be in need of advice and expertise to help you take your intentions through to completion.
If you have a left a property behind you in the UK, you may be considering how best to maximise this. If you intend to return one day then perhaps simply renting out the property in the meantime is the answer. However, the capital release from potentially selling the property may be of more substantial use to you in setting up your new life abroad.
Purchase may not be your intention at all; maybe you are simply going to rent a property to live in overseas. If this is the case you may well still need assistance in at least understanding the market, finding an appropriate property and dealing with the resulting paperwork requirements and your obligations as a tenant. This will always differ from place to place as well of course.