Buying Property Abroad: Top Tips from Caxton
Helping people make investments abroad is the business we’re in. Especially investing in real estate opportunities through Golden Visa programs in exchange for residency or citizenship. Buying property abroad can be a highly lucrative investment with a wide range of benefits. Often though, people come to us ready to make such an investment but need help working out the logistics to do so.
Once you have chosen your home away from home destination overseas you’ll be ready to begin the property search and alas make your purchase. There are some particulars to buying a property abroad which you’ll need to give attention to, specifically how to pay for the property. A task which may seem daunting if you’ve never sent such a lump sum overseas before.
Our partners at Caxton, an international payment platform that makes moving money easier, have broken down the payment options for buying property abroad for you int his article.
Chose the best payment method
Aside from the purchasing the property itself, you’ll be responsible for upkeep costs, taxes and bills. In some cases there will be annual or monthly fees to account for as well. Depending on your circumstances, you’ll have different ways to purchase the property and send money when necessary. Four of the most common payment methods for buying property abroad are outlined below.
It may be the case that you have enough cold hard cash to purchase your property outright. Paying in cash can often give you the upper hand to better negotiate the price. When paying in cash you’ll need an international payment provider to exchange your currency and/or transfer such a lump sum payment. That’s where our friends at Caxton come in.
Arrange an overseas mortgage from a US/UK bank
Some European, UK and US banks have offices abroad and will allow you to take out a mortgage overseas. In this case, you’ll beed to consult an independent mortgage advisor, or wealth manager with knowledge and specialization in this area. They will be able to best advise on the market where you’re buying. Lincoln Global Partners partners with wealth managers who can advise on these aspects, just ask us in your consultation.