In the last post I was explaining how you need to consider certain factors when looking to purchase property abroad.
Here are the main things you need to take into account;
First you need to work out and plan your budget. This can all depend on your reasons for purchasing the property in the first place; is it as a main or second home? Or, will you be renting out the property as a source of income?
You also need to consider the total cost including all the other expenses and fees it will cost to purchase the property. There may be transaction costs to complete the purchase, plus professional fees from the use of lawyers.
There is also the home insurance and other maintenance costs. If the property is in need of repair then these costs can easily escalate.
You may need to obtain advice from a financial advisor to make sure you have covered everything.