A Good Time To Buy Overseas?

The recent economic storm has caused a lot of uncertainty and fear. People wonder if their investments are safe, whether the price of their property will be devalued, and many ultimately query the future quality of their everyday lives.

Due to the fact that the economy is affecting everyone, chances are that if you have to sell a property at a discount, you’ll also be able to buy one at a discount (home or abroad). And if you don’t have to sell, it’s simply a matter of time before the economy will return and property values will bounce back.

But what does the economic situation mean for people wanting to buy an overseas property now? Buyers fall into three categories: Investors, Holiday Home Buyers and those Emigrating. Each category is fundamentally interested in increasing their quality of life in different ways. Investors want to make money, holiday home buyers want a 2nd home in the sun, with perhaps the option of having renters pay for the privilege and those emigrating want a new lifestyle – for example, one that provides better weather, less expenses and more enjoyment.

Although we’re in the midst of economic uncertainty it’s completely possible for all three categories to find success. Making plans to purchase overseas property in this current climate, however, is not for the faint hearted. Those adverse to risk or who get stressed easily should simply stay put and ride out the storm. Those who have a positive outlook on life and are looking for an adventure need not put their future on hold.

Investors can currently scoop up overseas properties for 40 – 50% below market value. There are a substantial amount of overseas property sellers (developers and private vendors) that must sell – and many will sell for the amount of the original loan, which could be a fraction of the property value. When picking up a seriously discounted property, an investor can sit on it until the storm passes and collect a hefty capital gain in the future.

Buyers interested in picking up an overseas pad for holidays have a huge variety of countries, properties and price ranges. The economic disturbance is affecting everyone and prices are dropping – If you’ve always dreamed of having a second home, yet thought the prices were to high, now’s your chance to get a real bargain. Provided that you’re interested in renting, it’s advised that you research areas with the highest tourism rates and the longest rental season.

As for those interested in emigrating…many plan to move abroad knowing exactly where they want to move and are passionate about their plans. Not only can buyers find a bargain property, but also they can negotiate a discount on removals, furniture, cars, and any service throughout the buying process. It is truly a buyers market - as long as you have the flexibility to go now, you’re in the driver’s seat. And rather than enduring the financial position in the UK, you can ride out the storm in sun!

It’s often been said that many people find success during crisis. Personally, I believe it’s all about attitude. If you have a positive outlook and feel inspired to take action there are opportunities everywhere. Turn off the news, stop buying the newspaper and focus on the end result you’d like to experience. Do your homework, take responsibility for your future and start a new adventure – who knows where it might take you!

Kim Brown
The Overseas Guides Company
Go to the main website at: http://www.overseasbuyingguide.com/