If you’re a keen traveler then you might want to consider buying a second home abroad somewhere. It’s also a good way to invest money for the future. You can usually cover the mortgage on the place by renting it out when you aren’t using it so the financial aspect isn’t actually as difficult as people think, as long as you can save enough for a deposit of course. But it’s a big decision to make and one that you shouldn’t take lightly. Although the property prices abroad are often cheaper at home, you’re still going to be putting a lot of your money into this second property so you need to get it right.
You also need to consider the implications of owning a property abroad. If you’re renting it out then you’ll have to find people to stay there. That’s actually not that difficult these days because you can use Airbnb to source tenants easily or just have a local company handle it for you. But you will have to deal with maintenance etc. and even if you’re hiring a property manager to look after the place, it’s still extra work to take on. If you think you can handle all of that and you’re financially stable enough to buy a second property, you can start looking for some places.
The first step is to choose the right country. Remember that if you’re buying a second place abroad, you need to actually use it to make it worthwhile. You’re probably going to be spending a lot of your holidays there so you need to pick a country that you’re happy to go back to time and time again. The best way to start choosing is to look at your travel bucket list and tick a few places off it. You might find a new country that you fall in love with where you can consider buying a second property. If you’re still lost for ideas, these are some of the best places to buy a holiday home right now.
Spain is still one of the most popular holiday destinations for Europeans so you won’t struggle to find people to rent the property out to. It’s also the ideal place for you and the family to go because you’ve got great weather, beautiful beaches and lots of kid-friendly destinations. The other massive benefit of buying a property in Spain is the price. The most popular place, both because of price and popularity with tourists is the Costa Blanca region but other big holiday destinations like Marbella are good as well.
Most people wouldn’t put Singapore at the top of their list of holiday destinations, especially for families. But actually, it’s a very family friendly place with loads of great water parks and theme parks to take the kids to. The reason that people don’t often think of Singapore as a family destination is that it’s a business hub, but that works in your favour as well. The property prices there are reasonable and you can get some pretty good discounts. For example, if you look at this hdb resale price after discount, you’ll see that you can get a modern property for a good price. The fact that a lot of business people travel to Singapore for work means that you can usually rent the place out pretty easily and charge a good price for it as well.
Florida is massively popular with tourists from around the world because you’ve got all of the theme parks there as well as some beautiful beaches and great party destinations. Relatively speaking, the property prices are quite low compared with a lot of other countries. You’ll get a nice sized property for your money and a lot of them come complete with swimming pools so they’re ideal as a family holiday home. You’ll never be short of people to rent the place out to and the weather is good for most of the year so you shouldn’t see a dip in winter either. The other massive benefit of buying a home in Florida is that you won’t need to deal with the language barrier. In Europe, it’s not much of a problem because most people speak English but it can make it difficult to organize things, especially when you’re a plane ride away. Not having to deal with that makes it a lot easier to manage the property.
Croatia is going through a bit of a tourism boom at the minute. It’s a popular filming location because it’s cheap so a lot of tourists are flocking to the country to see the sets of big budget films like James Bond and Mamma Mia as well as popular TV shows like Game of Thrones. There are also some beautiful beaches along the coast which attract a lot of tourism and the annual music festivals in the country are gaining popularity. That means you’ll never be short of people to rent the place out to but, because this influx of tourism is relatively new, the property prices are still very low. The historic city of Split is a base for a lot of tourists so, even though it’s slightly more expensive than other places in the country, it’s probably the best place to buy property right now.
France is the most visited country in the world and there is a lot of choice when it comes to amazing places to buy a holiday home. You’ve got a big variation in climate between the North and the South and you can either buy a place in one of the big cities or in the beautiful mountainous regions. Whatever you’re looking for, you’ll be able to find it in France. Property in France is more expensive than anywhere else on the list but you can charge a higher rate in rent so it’s worth it if you can afford the deposit.
These are just some of the amazing countries around the world where you can get a beautiful holiday home for a reasonable price.