Buying Overseas Property Don't Forget What Is Important

Overseas property buyers often search the internet compare mortgage deals, speak to foreign currency dealers and undertake all the other elements for a successful purchase. In all this planning they can forget the most important element their relationships.

Buying overseas property is on the increase especially from regions such as the UK. Reasons for buying international real estate range from property investment, relocation, emigration and a second home abroad. It seems that overseas property buyer's often research locations examine property investment potential and learn about the practicalities of buying a home abroad. However one element that seems to be ignored is human relationships.


We all know that pulling in the same direction in any sort of relationship can make life a whole lot easier. Reaching a compromise is better than having one party in the relationship unhappy while the other is all smiles. So why do we ignore relationship factors in the decision process when buying a property abroad. This could be because you may have both agreed it would be a dream come true to own a home abroad, however everyone's dreams are different and right from the out set each partner may be walking down a different path.


Is your partner in love with living abroad as much as you are simply ignoring these differences can mean you are set disaster? Do you love the sun whilst your partner burns just thinking about a hot day. Can you speak the language whilst they cannot speak a word? These all sound very obvious but your partner's enjoyment may not be as much as yours when owning a home abroad becomes a reality.


What is your main reason for buying a property overseas? What would your dream home abroad look like? How much would you spend? How much would you be prepared to dedicate on monthly expenditure? What would be your ideal location? Would you like to live abroad? Would you like to retire abroad? How often would you want to come home?

Making assumptions will store trouble for the future.

The list of questions could go on and on but making assumptions about how your partner views their ideal home abroad may result in a serious situation later. It's time to compromise at the planning stage so sit down and get to a joint view of your home abroad.

Relationships under pressure

Buying any sort of property can be a stressful business resulting in disagreements and a desire to throw the whole project in the trash can. Moving abroad and living away from home has its own unique pressures so it's essential that all agree to the game plan. When one partner has sacrificed more than the other this could stay in the background until rows or disagreements ensue. Living overseas may mean more time being spent with your partner this in it's self could be a form of pressure.

We all need to compromise a little.

Imagine one partner looking for a home abroad situated by a golf course whilst the other hates golf. The partner may be happy to go along with this as they are swept away with the thought of owning a property overseas. But with time and pressures associated with living away from home this euphoria is set to be a temporary situation. So work on compromise with the location of your property overseas. There are so many overseas locations that could cater for both parties. This compromise will ensure your relationship does not suffer when owing a home overseas


Selling your overseas property your exit plan

It makes good sense when buying a property abroad to plan how and when you would eventually sell you're your overseas property. Your partner may never want to sell and plans to keep the property in the family. You may be looking at the overseas property of your dreams as a pure investment whilst your partner sees it as a home. Deciding on how and when you intend to sell your property aboard is an important factor in many cases a property cannot be sold unless both parties agree.

Buying a home overseas can be a dream come true however it can be seen that ignoring the human element that many guides never touch upon could turn your dream into a nightmare

Nicholas Marr is a lifetime property investor and CEO of Marr International a UK based property marketing company. His views are based on research from the agents and developers that he is in daily contact with and from his own observations of the international real estate industry