Buying property in another country can be exciting, but the process is often very different from buying at home.
There can be different ownership rules, unfamiliar legal processes, language barriers, local customs and a whole new set of professionals to deal with.
I’ve spent a lot of time researching property markets abroad and, in Montenegro, I’ve gone through the process myself. I went from buying a property to renovating it and eventually renting it out.
This section brings together my practical guides to help you understand the buying process, ownership rules, local professionals, due diligence and the things you should consider before committing to a property abroad.
Table of Contents
Buying Property as a Foreigner
One of the first questions to answer is whether you can actually buy the type of property you’re interested in.
Foreign ownership rules vary between countries, and there can be important differences between owning a property and having the right to live in that country.
I’ve put together guides looking at the buying process for foreigners in several of the destinations I cover.
🇲🇪 Buying Property in Montenegro
🇨🇴 Buying Property in Medellín
🇪🇨 Buying Property in Cuenca
🇹🇭 Buying Property in Chiang Mai
🇮🇩 Buying Property in Bali
Choosing the Right Property
Buying abroad isn’t simply about finding a property you like.
The location, type of property, intended use and local market all need to make sense for you.
Are you looking for a permanent home, a holiday property, a second home or an investment?
Are you planning to rent it out when you’re not there?
Do you want a city apartment, a property near the coast or somewhere quieter?
These questions can make a big difference to the type of property and location you should be considering.
Working With Local Professionals
Buying abroad can mean dealing with estate agents, lawyers, notaries, surveyors, property managers and other local professionals.
Finding people you can trust is therefore an important part of the process.
I’ve included guides to some of the local property professionals I’ve come across in the destinations I cover, including real estate agents and agencies.
I’ll continue adding trusted local professionals as I build out the destination sections of the site.
Don’t Forget the Costs Beyond the Purchase Price
The advertised property price is only part of the calculation.
Legal fees, taxes, registration costs, currency exchange, renovation, maintenance and other expenses can all affect the real cost of buying abroad.
And if you’re transferring a substantial amount of money internationally, the way you handle the currency exchange can also make a meaningful difference.
My Approach to Buying Abroad
I’m not here to tell you that buying property overseas is always a good idea.
There are opportunities, but there are also risks.
I’d rather share what I’ve learned, explain the things I think you should investigate and give you enough information to make your own decision.
My own Montenegro property experience has also taught me that the process doesn’t end when you receive the keys. Renovation, ownership and eventually renting the property have all been part of the journey.
I’ll be sharing more of that experience as the site develops.
Start Exploring
Whether you’re just beginning to research a destination or you’re already looking at properties, the destination guides are a good place to start.