You might consider yourself an expert when it comes to investing in property. Maybe you are a Mark Ferguson and are already making $7,000 per month from rental properties, but what if I told you that you might want to consider investing in property overseas.
8 Reasons Why You Should Be Investing In Property Overseas
1) Portfolio Diversification
Overseas investment provides you with portfolio diversification. We have all heard the saying – don’t put all of your eggs in one basket. It is far more sensible to diversify. If you invest in property in just one country then you will find that your money is all tied-up in one place. Therefore, if that country hits hard times so will all of your investments. If you’re looking to diversify your portfolio to overseas investment properties, have a look into international mortgage brokers such as Simon Conn or others to get started. Branch out and invest in other economies. That way if one country hits hard times, you have your other countries to fall back on. There is a reason why companies expand overseas, they are spreading the risk. You need to think like a company!
2) Expanding Markets
You can get yourself into an expanding market. Put some research in and find out where the powerful economies are predicted to be. PwC has produced this report http://www.pwc.com/world2050 which looks at the predicted economic powerhouses for 2050. Get in now and you could be cashing in later. However, this is only a route for those who are prepared to play the long game. It is a get quick rich scheme. But then is there really any such thing as a get rich quick scheme? If you want to get rich then you have to be prepared to work for it and to invest carefully.
3) Tax Advantages
You don’t need to report your overseas real estate to the IRS every year. This is just one of two remaining asset types where you are able to do this. That makes an overseas investment very much a private affair! This means that you can grow your overseas wealth and property portfolio privately
4) Planning For Retirement
An overseas property investment could always become your retirement home later in life. Who says that you have to stay living where you. Perhaps you fancy moving to a warmer climate. Studies and articles like this one https://inspiyr.com/warm-weather-is-healthier/ make a convincing case for retiring to somewhere warmer. Buy somewhere hot and you could rent it out as a holiday rental now. You can then retire there later when you are ready. You don’t need to worry about leaving the family behind either. If you move somewhere warm then the whole family will want to come and stay with you!
5) Your Money Goes Further
You get more bang for your buck. Taking your home search overseas means that your dollars will often go further. Websites like http://rumahdijual.com/medan/perumahan-murah illustrate just how much further your money goes abroad. This also means that cost of living is probably much cheaper. If you choose to retire somewhere like this then you could be much better off in your retirement. You could be living a champagne lifestyle on a lemonade budget! You will be amazed at the stunning properties you can buy abroad. That mansion you have always wanted for you and the family could be yours if you buy abroad.
6) Claim Back Money
You can claim back those travel costs. The cost of visiting your overseas properties for management and inspections is tax deductible. Get claiming those air fares back!
7) More Options
It opens up options for you. Buying a house abroad opens up many new options for you. You can decide exactly what you want to do with your investment. Perhaps you want to rent it out as a long-term rental or a holiday rental. Perhaps you want to renovate it and then cash in on a rising market. Maybe you see it as being part of a bigger picture and you have plans to retire there. It is completely up to you. The world really is your oyster.
8) Less Competition
You have less competition. If you choose to invest overseas then you will find that you have less competition, especially if you get into an emerging economic market early doors. However, this might make it more daunting for you. You can employ a company to help you. There are companies who can help you with the legals and offer you support and guidance when investing in overseas property. There are also companies who can offer support for managing the property.
Questions You Need To Ask Yourself
Before you take the plunge and start investing in property overseas, you need to ask yourself some questions. You
need to ask yourself whether you see this as being a long-term investment. Is this somewhere you picture yourself
retiring to in the future? If so you need think about what your requirements will be in the future. Ask yourself the
following –
- Will I want a garden or a pool?
- How many bedrooms will I need? Will I be having the children ( possibly grandchildren) to stay?
- Do I want to be on the beach, in the city or in the country?
- How close do I want to be to my home country? A couple of hours by plane or am I happier to be further away?
- Is it a safe neighborhood?
- What is the healthcare system like?
These are all important questions you need to be able to answer. They will help you determine where the best
country for you to buy is and what it is that you want from your property. If you are still keen on investing abroad
then congratulations! You are about to go on an exciting adventure and not only are you investing in your future but
you are also investing in your family’s future. Get researching and find that dream home of yours! You will encounter
difficulties and it will be challenging at times but remember that this isn’t a process you need to go along on your
own. There is plenty of help out there and also other people who have invested abroad too. Use these people as
they will be a great source of help and support for you.
Good luck!
