How To Plan Your Move Or Investment In Property Abroad
Are you wondering how to plan your move or investment in property abroad now it seems more likely that COVID-19 movement restrictions could be eased or lifted?
Our last blog spoke about Rightmove’s upbeat predictions that estate agents are going to be busy in the summer – but is that the industry whistling in the dark or could it really be true?
Of course, the answer really depends on you. But, if you’re sitting at home wondering if now is the right time to invest, who do you trust?
It’s harder at the moment to trawl for opinions from family and friends. Many of us have been denied the chance of a water-cooler conversation or a chat down at the pub with our mates.
The media has obviously had its eye elsewhere too. Of course, it has a responsibility to report world affairs, but we ought to remember it’s the bad news that sells.
So where does that leave many of us considering property investment or a move overseas? Well, for most, it means were probably sitting in our armchairs scrolling for background articles on our phones or filling a lunchtime with a little surreptitious research.
After all, there is actually a lot of information out there. Most news feeds have a property section. Even the mainstream media tends to see the market as a pretty good barometer for the economy.
But, as most of us aren’t experts, it’s easy to be led by what we read and hear – even though so much of it can be based on hypothesis and supposition rather than cold, hard facts.
So, if you think you may be suffering from “analysis paralysis” what would our advice be?
Put simply, here are our five recommendations:
Make Up Your Mind
- Make a decision on whether an investment or a move abroad is definitely what you want. If you’re still unsure, we’d respectfully suggest you park it for now. However, if the answer is yes, it’s on to the next step.
Set A Deadline
- Set a date. This is often the scary part but, at this point, you’re still not committed financially. However, you will now have a deadline to work towards and that means you can work back from there to set a framework for your strategy for the months/years to come.
- Try not to be side-tracked, distracted or influenced by every opinion you read or hear. You may have to be single-minded as you work towards your goals. Be prepared for bumps along the way. Also, be aware not everyone you know is likely to be totally supportive either.
- You may have some clear ideas about what you want from your new home or your overseas investment. It’s definitely wise to allow some time both for research and to hunt down the right place. However, if you insist on every box being ticked, the whole process can get bogged down. Be prepared to compromise.
Don’t be Disheartened
- Also, be prepared for setbacks but don’t be disheartened. Despite all your research and planning, not everything is going to go your way. There is always something which comes out of left-field and takes you entirely unawares and it’s natural to feel resentful or naïve. However, it’s better to see things that go wrong as opportunities to learn and to remain focused and positive.
Naturally, a good support network is important and we’d suggest you choose your team carefully. You’ll probably need a lawyer to help with your purchase (pick one not connected to the vendor if you can). Maybe you’d also like some help with the language and, of course, it does no harm to research any estate agents you encounter along the way.
If you are wondering how to plan your move or investment in property abroad or if you’d like a no-obligation chat about the pros and cons of investing in property or moving to Portugal or Turkey, why not give as a call or drop us a line?
We’re not just about the buying and selling of homes. We’re happy to help with the logistics, paperwork and advice before, during and after your move. Feel free to get in touch. We’d love to help if we can.
Alternatively, feel free to browse our blog for previous posts you may find useful or, if you’d like to check out our portfolio, you can find details of properties currently on our books right here. You can also keep up to date with our Facebook page here.