Overseas Property Purchase - make easy

"Overseas property Purchase checklist#1" makes easy

Bettter to hear from someone who has own overseas properties for more than a decade; live in them, manage them & even going through past few years of closed borders during recent Covid Pandemic.

Buying into an overseas property, esp. your first, can be a scary plunge, going through the sales processes and financing.  It takes time to learn.

It will be a long term investment, minimum 3 years; not like buying into stocks, where buy and sell within a minute!

Off the cuff, I list out a reality checklist#1 to hopefully guide you into your first plunge into the whole new world of Plan B or/& proud property owner beyond our shores.

This checklist is actually basic.

Hopefully it helps you start-off your thinking before you plunge into it.

Woes or Blessings you interpret.  

Checklist#1 - Buying O/S Property

1. Why do you decide to buy an overseas property? 

2. Which country & city would you wish to stay or invest ?

3. Where location meets your purpose?  Do you have ground knowledge of the place?

4. What is its growth potential? Near food & amenities ?

5. What is your time-frame to buy? (or to later sell?)

6. Any legal limitations of owning it which can affect your local home ownership or career ? If buy under children name, it will affect his new HDB eligibility.

7. Landed or condo?  (freehold or leasehold)? Commercial or Residential?  (know what you choose?)

8. Safe & secure place (not by hearsay) assessment?

9. Whose name to buy ?

10. How to finance your property ?  (usually financing is 70% ~ 75%)

11. Which developer can you trust to deliver ? 

12. Any property guru ? (Don't hear it just from the Property Agent).

13. Who will manage your property?

14. Any limitation of selling off your property ?
 
15.  How to transfer large sum of your money over for your OTP (Option-To-Purpose) payment?

16. Are you rushing into it?  Loan Interest is high now hoh.

Other checklists may then be secondary level details.

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