The costs of investing in foreign real estate.
Investing in real estate abroad is always associated with certain costs, which can be very significant. I will highlight the main directions of such costs.
Costs of obtaining licenses and permits for the purchase of real estate abroad (if necessary);
The costs of paying for legal services to support the purchase and sale of real estate;
The costs of paying taxes and duties during the implementation of the purchase and sale transaction;
The costs of maintaining the purchased real estate in proper form, utility bills.
As you can see, investments in foreign real estate include costs not only before, but also after its actual acquisition.
How interesting this tool is for investment, what kind of real estate is better to buy and what to earn (by renting or reselling) — it's up to you. The main thing to remember is that although real estate objects are one of the most reliable tools for investing capital, a lot of additional costs, changes in legislation and problems in the country's economy can make real estate abroad not as profitable as we would like, and sometimes unprofitable. Therefore, when investing in foreign real estate, be vigilant!
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Choosing a property abroad.
It is clear that in order to buy real estate abroad, first you need to clearly determine in which country and what exactly you are going to buy. In the previous article, I considered some aspects that you should pay attention to in order to make this choice.
Study of the legislative base of the country and search for an intermediary for legal support of the transaction
This stage is extremely important, so I would like to pay special attention to it. You have already chosen a property abroad that you want to buy, but you have not yet started processing the transaction, so at this stage it is not too late to refuse if you are not satisfied with any conditions.
Many are faced with a dilemma: to deal with the purchase of real estate abroad independently or through agencies? My opinion is: both. I'll explain. Of course, it is better to entrust the purchase of real estate abroad to professionals, after all, we are talking about a serious transaction in which even the slightest mistakes are unacceptable. On the other hand, in my opinion, a private investor himself should be well aware of the areas in which he plans to invest his capital.
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