To diversify its investments in stone or simply enjoy an apartment in the place of your dreams, investing in real estate abroad is an interesting strategy. However, this will require a lot of preparation beforehand so that you don’t forget any steps. Indeed, the smallest step poorly carried out could have serious consequences on the realization of your project. In this article, we give you some tips for making your real estate investment in the city of your dreams.
First of all, you will have to choose the place where you want to buy your property. This place can be part of the strategy by placing you in a large capital near universities for a rental investment. If you want to invest in Florida, click on the previous link to discover our advice. If you prefer shopping for pleasure, let yourself be tempted by the city or location of your dreams.
The location of an investment is not to be taken lightly. It will be necessary to take into account the various shops nearby but also the future of the adjoining plots. Will these be the subject of work? The objective will be to estimate the capital gain that you can make when reselling your property.
Surrounding yourself well is a priority when buying property abroad. There are many real estate groups that offer their services in several languages. This greatly facilitates business relations. If this is not the case, you will need to surround yourself with a real estate expert who speaks your language. It is always better, in the context of business relations, to choose a service provider with whom you can speak without language barriers.
In addition, this professional will represent your interests on site and embody your project. The choice of the right professional requires examining many competitors and thus drawing up the ideal profile.
When you have found the property of your dreams, you will then have to think about financing it. It is very difficult to obtain a bank loan from a French agency to buy property abroad. You will then have to find a local bank that can accept your request. Remember to optimize your profile to build a good loan file.
In order for your official documents to be admissible with a banking establishment abroad, they must be translated! For example, if you want to buy real estate in Germany, using a sworn French German translator is a mandatory formality. This will offer an approved translation of your documents which will allow the banking institution to authenticate the content of your documents.
Once you have acquired your property according to the laws in force in the country of destination, you will have to consider the future of your property. If you are making a rental investment, which project is the most interesting? Rent it as is or furnished? Should it be rented for the long term or for tourism on Airbnb for example? All of these answers will come on their own with a few simple calculations that determine your rate of return.
For example, renting a house in the countryside is suitable for an unfurnished rental investment. Conversely, an apartment in downtown Barcelona can be rented furnished by the night without any problem.
You can also surround yourself with a local rental investment professional. He can put you in touch with different service providers or optimize everything so that your rental investment project is carried out as easily as possible. Keep in mind that regularly going on site to meet these service providers can only be beneficial for your project!
Investing in real estate abroad is a much more complex project than it seems. In the same way that you buy a property in France, you will have to reproduce this process abroad by adding the language barrier and the legislations which can be different from your country of origin. Therefore, preparing your project well is essential. It will also be necessary to surround yourself well in order to set up a credible project that will allow you to realize your investment in the best possible conditions.