If you have made a decision to start a new life in a different country, you will want to make sure that everything goes smoothly, and you are happy with the location, building, and amenities in the neighborhood. As you might have limited knowledge of the country, its culture, and customs, you will need to find a reliable, knowledgeable, and professional estate agent to guide you through the process. Below you will find five questions you should ask your agent before you commit to buy.
Are Area Statistics Available?
As you will have limited knowledge of the country and location, you will need to ask the agent whether there are any demographic, crime, income, and employment statistics available. If they have been in the industry for a long time, they will be able to point you in the right direction. You want to make sure that crime levels are low in your new neighborhood, and you are safe to walk home after a night out.
What Are the Average Living Costs?
You might search the internet for advice on living costs, but the person who can really tell you whether or not you can afford the lifestyle in the new area is your estate agent. They will know the cost of internet and other services, fuel, eating out, cleaning, maintenance, and vehicles. You must create a budget before you decide to move to a new home, and find out how much your first renovation and decoration project will cost.
What is the Property Tax?
Property tax for foreign nationals is regulated by national governments separately. If you are not familiar with the legal system of the country, you need to ask for an overview from your real estate agent. You don’t want to be paying a high tax to the government based on the value of your new home, or pay land tax for a backyard. Clarify all the costs before you jump in head first.
What Legal Protection Does the Agency Offer?
Once you have found your dream property, you need to make sure your consumer rights are protected abroad. For example, if you look at agency websites featuring properties for sale in Monaco, you have to make sure that you will be transferred the ownership, and the legal side of the sale or lease will be taken care of by international property professionals. You need to ask for legal guarantees, to ensure you are protected and nothing goes wrong during the purchase.
What Happens If You Decide to Sell?
While you might have been planning your relocation to a new country for a long time, sometimes things don’t work out. You might have to leave for health reasons or to look after one of your relatives. Ask your estate agent to explain what happens if you have to sell and move back to your home country.
Moving to a new country is not a decision to be taken lightly. Sit down with your real estate professional and find out as much as you can to make an informed decision.