A Place in the Sun
Like a lot of you, I am depressed. Depressed to have to be back to short days, the cold and the underground. Don’t get me wrong. I love London. But holidays are always too short to not miss them when they’re over.
It’s that time of year when purchasing a holiday home becomes a frequent thought around the nation – ‘do I really want to continue paying ridiculous hotel fees in the SAME location?’ – Especially now with the economic crisis, house prices are falling world-wide, so now is the time to invest in property.
But don’t rush into it. There’s a number of factors you need to keep in mind before you do so, as they could save you stress, money and regret. Bare in mind these 10 recommendations:
1. Location, Location, Location
Where you choose to buy is a vital element of your purchase. Will you be renting it out when you’re not using it? If so, what will your clientele be like? Is it convenient for entertainment and amenities? Is it safe for families?
Don’t just choose a destination because you’ve been there once and it was kicks. Visit frequently, know the area and be sure it is somewhere worth investing in.
2. All My Children
If you have kids, try and keep them active. Having a holiday home where you go to do the same things you do at home is unproductive and uninspiring. Think hiking, museums, beaches. What are the most enjoyable activities to you and does the area offer them?
3. After Dark
Not only emphasising my earlier point about entertainment, but safety. Make sure the area has low crime rates. A home that’s empty over half the year would be a prime target.
4. The Price is Right
Don’t fall victim to estate agent nonsense. Do your research on house prices first, and then see the agents – this way you know you won’t be taken advantage of.
5. Law & Order
Hire a lawyer. Rules and regulations of a foreign nation can be plentiful and hard to understand if you don’t speak the native tongue. With a lawyer, you’ll make sure you don’t cut corners on the legal process.
6. Fast Money
Make sure you can transfer money in large quantities and with good exchange rates – you wouldn’t want to lose money because of a lack of preparation.
7. Getting There
Make sure the transport links are affordable and frequent. The more airlines, ferry operators and train connections there are, the more convenient your trips will be. Obviously.
8. ER
Safety first – check out the healthcare in the area and make sure you take out travel insurance so you and your family are covered in case of any accidents abroad.
9. Neighbours
Knock on the doors of your potential neighbours! This is important for 2 reasons:
a) Location (again) – if you’re not similar types of people, the area may not be right for you.
b) Maintenance – a helping hand from a permanent resident to look after your property is always a bonus.
10. Saturday Kitchen
A vital ingredient to any good holiday – local food and drinks! Make sure the food in nearby restaurants is authentic and safely prepared and that the markets are nearby to try out your favourite recipes in your new home.
Also remember to check out this property checklist from building expert Luis Gonzalez so you know what faults to look for in the foundation.
