Do you have a hefty stack of savings behind you and you are thinking about getting yourself onto the property ladder? If so, have you ever given any thought to buying property overseas?
If the thought has never crossed your mind before (besides the obvious dream that everyone shares of having a luxurious beachfront villa in a tropical paradise), then this is the article for you. We’ll share some benefits that buying property abroad can offer…
More bang for your buck
For a bit of fun, why don’t you look at what kind of property you can buy overseas with the money that you have.
Let’s say for example that you are thinking about investing £500,000 in a property in the UK. That’s a hefty sum that will fetch you a modestly sized house.
Now convert that into Thai Baht (approximately ฿20,000,000) and start looking at the houses for sale in Thailand…
With a few minutes of browsing you’ll soon see just how many wonderful properties that there are – and well within your budget.
In fact, for the cost of one house in the UK, you could buy multiple condos in Thailand and rent them out for passive income.
As you can see, it’s an idea that is well worth exploring.
A new life
Another benefit of buying property abroad is…well, starting a new life. Is there anything that is tying you to your home country? Do you often dream of what life could be like if you lived in Asia? Or South America? Or Canada?
If there’s a dream location that you’ve always fantasised about, why not spend some time researching the prospect of uprooting your life and starting fresh?
When you invest money into a foreign country it always makes it far easier to secure a long-term visa and, in some cases, secure permanent residency.
Chase the good weather
Tired of freezing your butt off in the UK? Well, then perhaps you should buy property overseas and swap those winter boots for a pair of flip flops. A tropical climate doesn’t just have to be something you can enjoy for just two weeks a year – but the rest of your life!
Privacy and tax advantages
In many cases, overseas property brings attractive privacy and tax advantages that you would not otherwise be able to enjoy in your home country. If you would like to diversify your assets and spread your wealth out, going abroad with your cash certainly has its benefits!
Renting a luxury villa in Thailand every time you visit will soon get very expensive. However, imagine if you owned the villa, made passive income for most of the year via holiday rentals, and then could enjoy it for free as and when you fancy a change of scenery? Investing in property overseas will allow you to do so.
Feeling inspired? Intrigued to explore the overseas property market and see what kind of property you can buy with your savings? If so, make sure that you find a reputable real estate agent and always seek legal advice before making any final decisions. While there are many undeniable advantages to buying overseas, you should always approach with extra caution – whether you’re a seasoned investor or not.