Before doing anything else you should ask yourself what it is that you are looking for?
More than 300,000 British leave the country every year to set up a new life abroad, under the sun. However all these people differ in their goals and motivation. What are yours?
When considering the possible reasons for buying a property abroad, the following three are the most common:
- Holiday Home
This is for those with extra income, whom are looking for a second home in which to spend their holidays. Those in this category have already discovered an area in which they feel comfortable, and return to year after year. Buying property therefore saves them time and money in the long run, eliminating the hassle and uncertainty of making future holiday choices. Life is consequently much smoother as they have their own private space, containing all their own belongings, their personal haven under the sun. No more troubles with heavy luggage and excess baggage, and your neighbours can soon become your friends. They don?t just get a taste of a quality lifestyle, they live it. For some, the purchase of a Holiday home is the foundation for the future, a step towards retirement.
- Permanent Home
Had enough of England and the rainy weather?! Many people choose to get out of their grey life and to start afresh, or to retire from their old life in the comfort of France. This is a move of some consequence and requires careful consideration, particularly if the aim is to start a business abroad. It is imperative that you familiarise yourself with all the rules and regulations of the country, build an appreciation and understanding of the culture, social systems and tax. Don?t forget to formulate a back-up plan to secure against any doubts that you may have.
- Investment
Knowledge of the English property market can provide strong motivation for those who are looking for a bargain, an investment opportunity, rental income or even a renovation project to later sell for a profit. However, you must ensure that you know what you are doing. Certainly, the majority of Europe, including France, offer property with a much lower purchase price than the U.K., yet other factors must be considered, such as tax, property management fees or dealing with local businesses to do certain jobs. Without a grasp of the language, your costs can quickly escalate above that which they should be.
Which culture will suit you best?
Integration into another culture is often simple if you are willing to make the effort. If you intend to make a permanent move, this is of course of even greater importance, as is also true for those who wish to gain rental income. Buying a home for use in the holidays is much simpler, and you can just enjoy your time. Ultimately, the main barrier to such a move is the language, which is why many strive to buy in an area with an already established British community in the hopes of maintaining their British way of life. Do you fancy a pint, or a glass of red wine? Or are you searching for a home abroad in order to escape the life you know and to immerse yourself fully into another culture and way of life, far removed from that in Britain? Are you willing to learn the language? It would be much easier if you have friends already living where you wish to buy, or if you can receive support from an agent with an extensive local knowledge. Are you familiar with the customs and lifestyle of the country? Are you aware that shops tend to close at 7pm, as well as for lunch, and as a rule do not open on Sunday and Monday? Our strongest advice would be to form good relationships with the locales to ensure that you are adopted into the community as a neighbour, not simply as a foreigner.
Place and size matter.
Are you a city person at heart? Do you want to find a place where there is a lot of emphasis on the art of shopping. Is the party circuit an essential requirement or do you simply wish to be where everybody else is? Alternatively, are you more of a hermit, someone who enjoys their own company and is looking for a place where you will be able to relax, far from noise and distraction, removed from the hectic rush hour, possibly in a lovely, peaceful, countryside cottage? Are you looking to buy near the sea, bordering the mountains or in the country? Perhaps you?d like a bit of everything? If the purpose for buying property abroad is for a holiday home, the size of the property is less important than if you are buying to rent, or as a business investment, even so you will quickly realise that, once you have your place under the sun, you will soon attract many of your friends and family, and your property can easily begin to seem too small? For this reason it is normally recommended that you buy a property slightly bigger than too small.
