When buying a property abroad, location should be a top priority. When it comes to investing in Europe, there are two schools of thought – here’s more information.
Are You an Investor or a Lifestyler?
Firstly, the big question – what do you plan to do with the property? If you’re looking to buy then sell on for profit within a short space of time, then your focus is obviously on investment potential. If you’re thinking about spending many happy years there with your family and friends, you’re purchasing for lifestyle reasons.
It’s important to establish what sort of buyer you are from the start, as this will have impact on where you invest.
If you’re looking to find a bargain property in Europe, develop it to a high standard, then flip it quickly; you’ll probably need a specialist investment agent. We focus on helping buyers relocate or find holiday / second homes or retirement homes that they can enjoy for years to come (though we’ll also focus on finding properties that are likely to hold their value or increase).
However, that’s not to say that you shouldn’t focus on profit-making potential; that’s an important aspect of any house purchase. Ultimately, you’re investing in bricks and mortar, and regardless of where you buy, it’s likely to serve you better than saving money in a bank which doesn’t offer much interest.
The potential to make money from property is still huge; regardless of whether you’re looking in Europe or beyond. Natural inflation means that prices are going up everywhere, and this is especially true in upcoming areas on the continent. The market may dip from time to time, but overall, the upward trend is undeniable, providing you’re looking to keep the villa in the family for ten years or more.
Focus on the Lifestyle
Our advice? If you’re planning to buy a property in Europe for your family to stay in, don’t worry too much about the investment side of things; focus on what the house can offer you now (and in the future). If it’s going to provide you with a wonderful lifestyle in a great area, then that’s the most important thing.
What About Losing Money?
In the years that we’ve been working with clients, we’ve never had anyone come back to us and say that they’ve lost money. This is unlikely to change – quite simply, property has proven time and time again that it holds its value well, regardless of external factors. This is good news for people who are concerned, for example, about the effects of Brexit.
Brexit shouldn’t result in wariness about buying in Europe. Many of our clients have invested in properties further afield (e.g. Barbados) with no problems whatsoever, and it’s likely to be the same in Europe, regardless of any impact Brexit may have on the buying process. Don’t let the media scaremongering influence you, speak to one of our agents to get the real picture.
Is Now the Time to Buy in Europe?
Ultimately, if you feel ready to buy now – then why not? None of us are getting any younger and if you’ve got a goal to have a luxurious holiday home, then we’d recommend that you go for it. Europe’s a great place to invest in, with several popular and upcoming locations that offer an idyllic lifestyle, not to mention the potential to make a profit when you resell the property in the future.