Are you considering buying a vacation home? Then make sure you are well informed. These tips will get you started so you can fully enjoy your dream home abroad!

Think carefully before buying a vacation home

This may sound like an open door, but don’t make such an important decision overnight! When people are on vacation in a country with beautiful weather, good food and a rich culture, they often start dreaming of their own home in that wonderful place. As a result, they sometimes impulsively proceed to purchase a vacation home. If you are planning to buy a vacation home, be sure to think carefully about these issues:

• Is the purchase financially feasible? Are you able to repay the monthly amount smoothly?
• In addition to the purchase price, take into account a number of fixed costs such as water, electricity, light, annual maintenance costs,…
• What about taxes? Each country has its own legislation. Make sure you are aware of these before buying a second home abroad.
• How often do you want to go to your vacation home? A second home abroad is attractive but don’t forget that you have to purchase airline tickets each time you travel there.
• Who will provide maintenance and supervision of the property when you are not there?
• Do you plan to rent out your second home for additional returns? If so, how will you run this? Will you handle it yourself or use a real estate agent? Make sure you have clear lease and rental contracts, for example, if damage occurs to the home during the rental period.
• Protect your second home from (un)foreseen issues. It is a big investment so make sure you have the necessary insurance (e.g. against extreme weather conditions, burglary and theft, fire,…)

Take an expert at hand

Make sure you are well informed before you proceed to purchase a vacation home. Don’t let emotions alone guide you. It is wise to get assistance from a real estate expert with knowledge of the subject (e.g. local laws). This costs some extra money but it will save you unpleasant surprises afterwards. That way you can enjoy your vacation home all the more!

And finally: visit the Second Home Expo and attend various seminars to broaden your knowledge and talk to real estate agents in person.