To Buy Or To Rent When Moving Abroad

When you move to another country, there can be one of two ways of doing so. It is that you are moving with a company (employment relocation) or that you are doing it yourself, on your own, or with your family (such as retirement).

In the case of employment relocation, more often than not, your traveling and moving, expenses are covered by the company and your lodging is acquired by them as well. So it is not a concern for you. But when making the move on your own, to buy or to rent deserves your full attention.

It is a very good idea to visit the country you have chosen at least twice before moving. The first time, go for fun; explore and look at everything, talk to people, discover as much as you can. If you are not sure of the area you would like to settle in, then you rent. But if you know exactly what you want and where, research both rentals and real estate. Thanks to the internet, research is quite easy, although it is time consuming. There are many online resources such as:

~ Forums geared to specific countries, or ‘expat’ forums where all countries are discussed. There are many out there but not all are good. When entering a forum, look for the stats, which will tell you the number of members, visitors etc. Next find out if the forum is active (lots of posters and daily interactions) by reading through the threads menu and specific threads.

~ Real estate and rental websites (hundreds, if not thousands, to browse through!)

~ Government website to look up ownership, immigration and other laws

~ Blogs (like this one) from people living abroad, or who have lived abroad, and share their experiences. If you have questions, don’t hesitate to use the ‘comment’ field. Bloggers love corresponding with their readers!

~ Tourist/vacation related websites have lots of info about the country in general.

Before you buy, here are some things you need to know, or be able to answer:

► Real estate market. What kind of prices am I looking at.
► Laws (different countries mean different laws)
► Expat ownership laws (which in some countries may vary from laws that apply to locals)
► Purchasing procedures, requirements and time frame. What are the extra fees beyond and above the property price itself.
► Do I use a realtor, a real estate broker, an attorney… It is very important to find someone you can trust with your transaction and money. Ask for references.
► Political and economical state of the country. Semi to long term investment value.
► Will I have clear title of my property?
► Am I allowed to remain in the country for as long as I own? What are the immigration laws and different programs for expats?

Once you are familiar with those points, it is then time for your second visit to meet with the contacts you have made during your research and view the properties that have peeked your interest. You can then safely make your purchase and feel confident about it.


Other Posts:

1 ~ Living Comfortably In The Jungle Of Central America!
2 ~ Producing And Storing Your Own Electricity, You Have The Power To!
3 ~ Building Off-Grid In The Jungle, Fun But Challenging
4 ~ Easy Broadband Satellite Internet Access
5 ~ Water Supply Considerations, Off-Grid In The Jungle
6 ~ The Domestic Cats’ Life In The Jungle
7 ~ The Belize Mennonite’s Lifestyle
8 ~ How To Live As An Expat In A Foreign Country
9 ~ The Invasion Of The Flood Flies
10 ~ Living in Paradise! But, Where Is It?
11 ~ Solar Panel Placement & Sun Chart Creator
12 ~ Health Issues When Living Abroad
13 ~ Telecommunication Challenges In A 3rd World Country
14 ~ Fleas & Ticks In The Jungle
15 ~ The Dangers Of The Black Poisonwood Tree
16 ~ Home Schooling When Living Abroad
17 ~ Tips & Hints On Things To Watch Out For During Construction – Part 1 of 2
18 ~ Tips & Hints On Things To Watch Out For During Construction – Part 2