Many of our compatriots dreams of obtaining real estate abroad in their possession. If desired, they can give a number of arguments that confirm their confidence. The most important thing is that the media, advertising, foreign agencies are actively supporting this idea. This is understandable, since they, therefore, will be able to earn money on you. What will happen after that, they are not particularly interested in. Unless a new opportunity to earn when you decide to sell your real estate. I also had a desire to buy real estate on Tenerife, I got acquainted with all the pros and cons, now I am ready to share my thoughts with you.
However, if you do not pay attention to emotions, it turns out that the main arguments for the acquisition of real estate abroad are reduced to the possibility of an economical rest, to receive income from rent and investment.
Let us dwell on each in more detail.
“Savings” on vacation.
First you need to realize the fact that you will spend your free time for many years in the same place. This option is arranged only by pensioners of developed countries who are sufficiently warm climate and cheap fruits. But they hardly wanted to get a “comfortable prison” for themselves. Yes, and there will have been a lot of care for her, that will entail additional costs. Yes, and no one canceled the payment of taxes and utility bills, despite the fact that you do not live in the house.
Any visit to vacation will begin with cleaning, minor repair and payment of various bills. Of course, you can hire a person who will follow the house during your absence, but he will have to pay. Therefore, it is worth considering what is the “savings” from such a vacation?
“Income” from lease
Your representative or management company will receive income from leasing property. It is clear that the management company will strive to ensure that your income exceeds the cost of maintaining property, but not much, since you need to think about other customers. Also remember that you will need to pay for the search for tenants and pay income tax. This will require you to go through the registration procedure as a taxpayer.
Investment “benefit”
Everyone thinks that they will be able to buy cheap property, use it and sell it more. However, everything is not so rosy. Now in the world there is overproduction of everything, including real estate. There are no so many vacationers who can take all the created objects, and there are no so many buyers, how many apartments were offered. Therefore, it is likely that by selling foreign real estate, you will only cover the current inflation and will not receive a significant income.
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