GETTING STARTED
BY ANGIE REDMOND
Buying Property In A
Foreign Country
The due diligence list
tenants, as these will play a large part in making
sure the home is not only a good investment, but
will also suit your tenant’s and your needs.
B
uying a home, whether as a f irst-time
home buyer or an experienced property
investor, comes with many important
considerations. In addition to the financial aspects
and taking into account your affordability, bond
applications and negotiating an Offer to Purchase,
there are many useful guidelines that can make
the offshore house hunting process a simpler and
smoother experience.
Create a list of criteria
To begin the process, identify your requirements by
creating a list of “must haves” and “nice to haves”.
This allows you to compare properties that you view
more objectively.
T horough ly resea rch t he count r y you a re
interested in to ensure that it offers investment
growth opportunities. Consider your needs in
terms of renting your house to a tenant, things such
as proximity to schools, work, public transport,
shops and other amenities that are important to
6
Offshore Handbook 2013
Deciding on the physical features such as size and
number of bedrooms may seem simple, but it is wise
to bear in mind that buying property is a long-term
investment. Therefore, anticipating your needs over
the next 5-10 years will make it a more valuable asset
and ensure that you don’t find yourself in a position of
needing to sell too soon.
Decide which property type suits you
There are different types of homes, such as freehold
properties or sectional titles, and deciding whether you
have a preference for one specific type over another will
simplify your house hunting experience further.
While freehold houses offer freedom regarding
alterations or renovations, sectional title properties offer
security and convenience with maintenance. Also keep
in mind that there are additional monthly payments on
sectional title properties in the form of levies. As with
the required features of a home, the decision regarding
which property type suits you will depend largely on
your needs and your tenant’s needs, both now and in
the future.
The online search
With this information to hand and the ease of access to
information which online technology offers, searching
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