There are a number of important aspects to consider when you’re house-hunting in the international buy-to-let market.

The bigger issues, like unfamiliarity with the country’s buying process, language barriers and complicated legal processes, can, and should, dominate, but make sure you give the simpler issues the time they need too. They may sound obvious, but they’re fundamental considerations, so that’s what we’re looking at here.

It’s so important to address any potential issues at the outset, because if anything goes wrong further down the line, you’re not going to be there to sort it out. The only flying back and forth you should be doing is to enjoy the holiday home for yourself. It can’t be rented out all the time, right…?

Here are some things to consider:

• Location really is everything. You might think you’ve found the perfect beach-front villa or countryside hideaway, but how good is the location really? Make sure you do your research. It’s often a good idea to visit the location at different times – not just during different seasons, but also at different times of the day and week. You’d be amazed at how quickly an area’s atmosphere or suitability can change at night.

• Is there a good tourist scene here? ‘Up-and-coming’ often means great deals on property, but how long will you have to wait for the area to become a fashionable destination? You need to make sure that you’re not going to have an empty property in the meantime. If you’re willing to take the risk and you can get a good deal, it might be worth it, but remember that popular tourist areas are popular for a reason.

• Do your research! Take a look at other rental properties in the area to see what the market is like. If similar homes aren’t being rented out for very much, but the price of the property you’re looking at is quite high, you’re going to have problems.

• Is there someone to look after your home? This is important. If something happens, it will need to be seen to right away or you’ll face some very disgruntled holiday-makers. Having a property with maintenance fees, using a property management company or hiring a caretaker might not be such a bad idea. From plumbing emergencies to break-ins, problems can be sorted out without you.

• Who are you renting to? A property in a party town might seem like a safe bet popularity-wise, but you’re going to find a large proportion of the interest comes from young groups. Do you want stag parties renting out your house? If you’re willing to risk it, you can make a lot of money, but don’t be shocked if the furniture ends up in the pool.

• Will you rent to your friends? This sounds like a silly question but it’s something to consider. Your friends will want freebies. You’ve got to decide straight away whether or not you’re going to give this to them. Say yes and you’ll be losing money, but say no and you risk offending them. Having a clear ‘friends policy’ from the outset should help you avoid any tricky situations.

This entry was posted on Wednesday, July 15th, 2009 at 4:32 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.