Searching for Holiday Homes for sale abroad? You will find that the most popular countries for Holiday Homes are Spain, France, Portugal, USA, Cyprus, Italy, UAE, Turkey, Thailand, Switzerland, South Africa, Greece, Ireland and Australia.
However, the buying process and tax implications in these countries will be different than in your country of origin.
It's essential that you understand the buying process and the total acquisition costs other than just the purchase price before you jump in. Typically, you can add up to 15% on top of the purchase price to cover legal, notary, stamp duty, vat, bank and mortgage fees, valuation fees and Agent commissions in some countries. But it’s not just the acquisition costs you need to budget for, it’s also the running costs such as Maintenance, Utilities (water, electricity, phone, TV, broadband), Insurances, Community Fees, Local Council Fees, Property Management Fees, and of course Mortgage Repayments if appropriate.
Then there are taxes! You should plan for local and federal taxes in the country, and depending on country you choose and its reciprocal tax agreements with your home country, you may have to pay wealth taxes in your home country as well. Think through the life cycle costs of the property at purchase, ownership, sale or death, and take expert advice because capital gains and inheritance taxes can be severe. Clearly you need expert legal advice, so if you are searching for Holiday Homes for sale abroad we can supply useful and practical GUIDES to buying property in any of these countries, CONTACT US using the enquiry form on our homepage.