The Overseas Guides Company - a reader's story

Brian Dorey, along with many other British expats, has chosen to buy a home abroad for the most commonly cited reason: the sunny climate. But he also investigated the financial implications and discovered that there is no wealth tax on local or foreign investments plus taxes are lower on income too, all of which was very attractive. Altogether this seemed a very promising start and, when added to the fact that property is cheaper where he chose than in many other popular Mediterranean countries, Brian decided it was ‘all systems go’.

So began a really thorough search for his dream property. Brian takes up the tale: “Having searched the internet, I found a Buying Guide website where purchased the detailed, helpful guide and subscribed to the free newsletters offered. It was amazingly easy using the tips and suggestions to define my requirements and to establish my strategy for what I really wanted.

“Once I had made use of the network of friendly and helpful associate available through the website, everything fell into place” he continues. “This, despite some very attractive but potentially risky alternatives which I could have easily been tempted into, had I not had a plan to keep me on track.”

Brian had made the decision to buy a resale property instead of a new build option fairly early on: “I came to learn from the very minor maintenance aspects I encountered that I couldn't possibly have contended with the major stress and frustration of dealing with developers, the changing schedules or contentious deeds and planning problems” explains Brian.

Brian finally purchased a lovely villa in a village that has grown to be a very vibrant and welcoming while still retaining its charm, with a population of many nationalities, the majority of whom are either local or British ex pats. “Everyone I've met has been very friendly and helpful” comments Brian. “Funnily enough, all my immediate neighbours are also Brits and those I've met have been very kind. I couldn't have properly maintained my pool and garden plants at a distance without their ongoing help.”

The vendors that Brian purchased the property from are having a home built and Brian is considering renting the property to them until completion of their property. The decision as to whether to rent out the property on an ongoing basis has yet to be taken. “It was bought primarily as a retirement retreat, away from the UK and its wasteful tax regimes” Brian confides. “I have determined I definitely will not rent it out on a long-term basis - I don’t want to be prevented from occupying my home for long periods. I am still trying to decide on shorter letting periods” he adds.

Paying for the property from monies in the UK became the next issue. Scanning the Internet, Brian had seen much information on currency companies and their expertise in transferring currency and he decided to investigate this option. Talking to traders, he found that not only were their exchange rates far better than his high street bank but that transfer costs were often eliminated too.

“I contacted the currency company and found that it was very easy to set up an account with them and they were very helpful and accommodating. For instance, one of my banks would only allow me electronic transactions of up to £10K per day, so it took a lot of days to send some £170K! However, all was completed smoothly and on time – they helped me no end to achive my ambitions,” Brian recalls. ”I have now successfully purchased a unique property, which I believe I will enjoy during my future retirement in a friendly and more attractive climate than the UK.”

Contact the Overseas Guides Company for help with your Overseas dream on 0207 898 0549

Kim Brown
The Overseas Guides Company
http://www.overseasguidescompany.com