Jan. 27, 2015
Dear Overseas Property Alert Reader,
I’ve bought a number of overseas properties—both for personal use and as investments—and I find that evaluation of a potential property always comes back to a few simple basics. It’s a safe and secure process when you follow the rules and use the same good sense that you’d use in your home country.
For Any Property You’re Considering, First Look At These General Items
Location: As anyone in the real estate business will tell you, location is paramount. You can fix almost anything else with enough time and money, but you can’t fix the location. Make sure it’s either good or that you have a strong reason to believe it’s on its way to becoming good.
In addition to the neighborhood, also consider the distance to the airport and to good medical facilities.
Walkability and public transit: Where this applies, it’s crucial when it comes to resale or renting your property for income. The ability to walk to stores, restaurants, and administrative services will make your own life convenient—if you’re using the property—as well as that of your renters. If your property is not walkable, you may be requiring your buyer or renter to have a car… which is a big factor in a foreign country.
If a city property is not completely walkable, being near convenient public transit is the next-best alternative. Of course, walkability doesn’t apply in remote properties that are intended to “get away from it all.” Continue reading