The Perks of Buying Real Estate Overseas

If you’re on the market for real estate, you are likely looking for one of two reasons: you are looking for a new place to live or you are looking for a smart investment. Of course, your purpose may be some combination of the two, but regardless of your reason, what you want is a great property at a low cost. Looking around in your own area, or even your country, you may not find anything you want at a price that makes it worthwhile for you, but you might have better luck expanding your search overseas. Purchasing real estate (international real estate in particular) has a few perks that sweeten the deal for some buyers.

Lower Price

Buying real estate in a foreign country often means a lower price. The cost of property, like all other costs in a free market, is determined in part by supply and demand. If you’re looking for a property downtown in any major city, prices will rise simply because demand is high and space is hard to come by. Another factor on real estate prices is the economy. By scouring the globe for real estate in places where land is cheaper and the economic situations are ideal for buyers, you can get a bit more for your money.

Lower Taxes

Once you’ve purchased real estate, you’ll have to pay property taxes on it, but some countries have lower property taxes than others. Property taxes aren’t something you only pay once, like sales tax, you’ll have to pay property taxes each year for as long as you own the property. If you can find a country where property taxes are lower, or even better, non-existent, you can save a lot of money.

Cheaper Maintenance

Maintaining a home can be a major expense, especially when you aren’t living in it for most or all of the year. Usually, you’ll need to pay for a property manager or other service providers to take care of the property while you can’t. The cost of maintenance usually comes down to the cost of labor, so if you can find a house in a country with lower labor costs, there is one more place to save some dough.

Exotic Location

Of course one of the major perks of buying real estate (international real estate having this particular perk) is owning property in an exotic location. Whether you want the location to lure in renters or future buyers, or you just want to live in the home yourself, buying overseas can add a bit of excitement. With the potential savings as well, there’s no reason not to expand your search.

House Construction

We are waiting for the proper segregation of the parcel of property my in-law's gave us in Quezon City before we decide on the next step which is scouting for a great architect who will render the vision of our dream home.

Te next step will surely involve a thorough discussion amongst my husband and I because this will involve money matters and it is going to be a big one. It's not a joke to go through a house construction project because all our savings will probably go to that project and then some. We may end up taking a loan with Pag-Ibig fund to finance the project otherwise, we have to wait for sometime until we are ready.

Other things we are considering is the scouting of reliable contractors who will use safe and high-quality materials. They should have materials that are at par with building safety codes and the public municipality. I had to check some internet sites like www.reidsupply.com and other known manufacturers of high-quality equipment and supplies to aid in the construction of our dream home.

This project is the culmination of our dreams and I take this seriously. I will not compromise the design, safety aspect and definitely the durability of the house we have dreamed of and saved for all these years.

The Colors of the World

I see the sky
And it's all blue,
Like the ocean with its azure hue.

I see the trees
And they are all green
With the verdant leaves on the brim.

I see the sun
And how it glows!
Like a golden ring on a distant slope.

I see a land
With the warm shades of brown,
Which echoes warmth all around.

And I see folks like you and me.
We are part of this mystery.
The colors are rich with variety
Of people, plants, animals and nature's elements in a mould.
For these are the colors of the world.


~oOo~

I have written this poem as tribute to our Mother Earth. Let's support all organizations and causes fighting for the protection of the world we live in.

Thanks.