The Government has launched a new campaign offering advice to Brits who want to buy property abroad to do it safely. The Foreign and Commonwealth office’s ‘Know Before You Go’ initiative will help people who are interested in foreign real estate, to buy safely. The FCO’s office offers nine key piece of advice, things it says you should ‘Know Before You Go’:
1. Take out travel insurance for any trip overseas , make sure it covers you comprehensively for anything you might do or need
2. Find out about your health entitlements and costs abroad
3. Find out how to keep track of pensions, tax, and healthcare costs. Make sure you know everything in advance from the Department of Works and Pensions see www.dwp.gov.uk
4. Visit the FCO website to see if there are any risks associated with your destination
5. Make sure you have a valid passport and correct visa for your stay
6. At least 6 weeks before you leave find out if you need vaccinations. Your destination may carry risk of Malaria, Cholera and even Rabies
7. Find out your welfare rights abroad some UK benefits are not transferable abroad
8. When travelling in Europe take an EHIC form giving you reduced cost or free medical treatment in 28 European countries. www.dh.gov.uk/travellers
9. Get a good guide book well in advance , a little local knowledge is invaluable
But many travel and overseas property companies have said the campaign’s tips are a bit obvious:; Overseas Property Portal Homesgofast.com offers buyers some slightly more practical hints for success, urging people not to rush, to make sure they are familiar with the island or location and the type of properties they are considering and set out what they actually want to gain from the property i.e. is it going to be a second home, business or investment.
Homesgofast.com also advises buyers to research the residency rules for non nationals and to get to know the people and the lifestyle in their chosen area.
Find out more about investment properties abroad