Whether you are looking for a vacation property, a seasonal home or a full-time residence, purchasing property abroad can be an intimidating task.
There are unique considerations that come with buying international real estate. To help you plan for your purchase, here are some things to consider when purchasing a property abroad.
Ease of travel
The frequency with which you plan to travel back to the United States will determine how easy you want the process to be. Keep in mind how close you want your new home to be to the airport and which airports offer direct flights to the American city or cities you will travel to most often.
Security features
To ensure your comfort, look for security features that will allow you to relax when you are in your new home. For example, breaking and entering is a concern in many Latin American countries. To combat this, homes are often built in gated communities that are monitored by a security team.
Access to medical care
As in the US, some areas have better access to care than others. If you have specific health concerns, it is a good idea to locate top-rated providers in the area where you might make a purchase, ensuring that the care you need is nearby.
Reliability of utilities
Ask residents about the frequency of blackouts, brownouts and any seasonal problems with electricity or utilities. Are internet and cable providers reliable? Are there periodic water shutoffs?
Buy based on what you see
Developments that target expats often make big promises about what is to come, but those promises often go unfulfilled. This makes buying in a new development risky. If there are things you must have, even something as basic as paved roads, do not buy until you have seen them in place.
Work with a local expert
Ultimately, there are too many variables at play to go it alone. Find an expert in the local market that you can trust and work with them to secure a property that is suited to you. Once you buy, make certain you have the insurance you need for both yourself and your new property.
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