Buyer's Guide - Do your research
Before you start out on your property search it is vital that you answer some basic questions and then carry out some research. It is important that you have a clear idea about your motivations for buying: are you looking for a holiday home; do you intend to rent out the property – either long or short term; is your main motivation a property investment that will give you capital gains?
Once you have thought this through and keeping your motivation for buying in mind, you can start researching different locations. Visit the different areas, have a good look around, make sure that the facilities and amenities that you are interested in are nearby. Don’t be close-minded in terms of location: take the time to look at all the different options and visit areas that you may not have considered. Having decided, try to talk to the locals and expats that live in the area to get a good feel for it. If at all possible visit the area at different times in the year: there could be a big difference from one season to the next.
The next question you need to answer is what type of property you are looking for and how much you can afford to spend on it. Be realistic – it will be difficult to enjoy your holiday home if you spend the rest of the year stressed about making the mortgage repayments. Likewise, buying too cheap can equally become a point of frustration: when you move in and realise that the property is too small, too old, or in need of too much work, you may wish you had splashed out a bit more.
The type of property available within your budget can vary greatly depending on the area that you have chosen. Arrange viewings for lots of properties to get a good idea of what your money can buy. Don't run the risk of buying a home, moving in, then looking around some more and wishing you had bought another. When you have found your ideal property, take the time to go back for another viewing – maybe even three or four viewings at different times of the day. Don’t be pressured in to making an offer – buying a property is a big decision, so take your time.
General Information - Do your Research
General Information - Consider the Financing
General Information - Legal Considerations
Property Purchase Process - An Overview
Taxes and Fees payable – An Overview