Save when buying or selling property overseas

Save when buying or selling property overseas

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Foreign exchange for your property purchase 

Buying a property abroad, whether your first holiday home or for those looking to expand their foreign real estate portfolio, is an important and sometimes daunting experience. Working to take the stress out of buying a property abroad, here at moneycorp we will provide you with not only competitive foreign exchange rates, but we will guide you through the process.

Helping customers buy property abroad by answering their foreign exchange needs for 40 years, make the most of your money with moneycorp. 

5 tips on buying a property abroad 

How should I prepare for buying a property abroad?

The most important thing to consider before buying a property, is writing a list of your personal priorities. The best way to start is to think about the reasons you’re moving abroad, and what the property will be used for. Ask yourself questions such as what locations appeal to you, does it need to be family-friendly, are you after certain amenities such as a golf course or swimming pool, and when do you think you’ll visit.

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What is a scouting trip?

Unless you’ve been a regular visitor to a particular resort where you will be investing, you’ll need to understand where the property is and explore the local area. Plan ahead and book your trip in advance so you have time to digest your experience, and make a list of all the questions you want to ask in advance – from checking just what is included in the maintenance fee of a lock and go property to how often the buses run and anything else on your list of priorities.

 

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I’ve found the property, what do I do next?

Use a local, reputable property company for detailed property searches and insights into the property market, engage with a local lawyer who speaks English well and ensure they are registered with the country’s bar association. When budgeting, remember to account for additional costs such as local taxes, registration and utility connection fees, calculate the risks and start to work with your foreign exchange provider to ensure you get the best rates when transferring your funds overseas.

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What sort of things do people typically forget to do?

Make sure you have a complete visa, and notify your doctor for hand-over files. Request up-to-date assessments on any savings and pensions, check that any pets are fully inoculated and fit to travel, and get quotes for international removals before booking a shipment.

How can a currency specialist help me?

The only time most of us consider the exchange rate is when we’re buying currency for an overseas trip. The currency market fluctuates constantly, and responds to both predictable and unexpected political and economic news and events across the world. When making an important purchase, such as a home, working with an expert is best. Providing guidance throughout, we are there for you every step of the way, starting with scouting out potential locations, paying a deposit, to setting up regular payments.

Buying a property overseas?

Buying a property overseas?

Whether you’re buying a retirement villa, a family home in the sun or a seaside apartment for when you need to escape the rat-race, learn how you can make your overseas property dream a reality with our handy guide to buying property overseas.

Read

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