Are you thinking about living or even retiring abroad? For many people the option seems quite exotic and visions of sipping from a coconut on a perfect white sand beach somewhere warm come to mind. It is true that retiring or living abroad, especially if you have a job that you can do over the internet, is a great option. There’s a lower cost of living, oceanfront properties abroad cost a fraction of what they do in the United States, and you get to avoid some of the fierce weather that strikes parts of the U.S. at different points of the year. However, before you jump in headfirst into the country of your choice, make sure that you avoid these common errors that many people make when buying beachfront property abroad.
First, always make sure that you visit the area you’re looking to buy property in before you actually commit to anything. This seems like common sense for buying a home domestically, however many people jump into a deal, prompted by pictures and a flashy website. Always make sure that you visit the property and keep in mind that if it’s too good to be true it probably is. If the property is much cheaper than you expected take a second look. Does it have access to roads, power, and sewers? All too often we take for grated that basic utilities are hooked up everywhere.
Second, always make sure that you go through a trusted local real estate agent that has experience in the laws that surround foreign real estate ownership. Each country has very different laws regulating how much and what type of land that foreigners can hold. Your real estate agent should be able to not only tell you what the best properties are, but also what rules you are subjected to.
