Thought it was just your own property you need to investigate when purchasing a property abroad? Think again!
Article written by The Overseas Guides Company
Particularly if you are investigating the option of buying an apartment or an attached property, such as a terrace, town house or attached villa, it is wise to cast an eye over the adjoining properties for any quirks which may cause you problems down the line.
Uneven roof lines, lack of adequate drainage, cracks in the walls or foundations and the presence of mould can signify an underlying problem – one which could cost you dearly if it results in damage to your property.
Better still, make sure your surveyor’s report – always recommended when buying a property anywhere in the world – includes a look at adjoining properties, common walls/buildings and so forth to check they have planning consent.
Illegal outbuildings and extensions are common in most countries, some more than others. If they adjoin the property you are considering purchasing, then it is a good idea to examine them for possible defects which could affect your property. A surveyor will also be able to check that are not encroaching on your property’s land.
As a foreigner, dealing with insurance companies, tradespeople and local authorities can be different and more complicated than what you are used to in the UK, meaning any such claim would be a particular nuisance for you. Ensuring you have a good surveyor, and keeping your eyes peeled during the process, may just save you a lot of hassle, expense and heartache down the line.
For more details on property for sale abroad, visit the listings on Rightmove Overseas.
Wherever you buy abroad, using currency exchange specialist Smart Currency Exchange to make currency transfers could save you considerable amounts of money thanks to their exchange rates typically being 2-4 per cent better than banks. You can find out more by downloading Smart Currency Exchange’s free guide or visiting our Currency Zone.
The views and comments herein are those of the author and do not necessarily reflect the views or opinions of Rightmove Overseas, Rightmove Group Ltd or Rightmove Plc