Almost at every exhibition, conference or round table, where we communicate with potential buyers, we answer the same questions. It’s not easy to find a way in an unknown world of foreign real estate and understand what you need to do first and how to start the overseas housing research. For new buyers the ee24.ru prepared this guideline: 5 easy steps that will help to orient and, hopefully, make the right choice.
Step one – to answer the “why” question
"I want to buy seaside apartment, in the quiet central area to live there in the summer and to rent it out in the rest of time to pay back the mortgage and utility bills," – this is not a joke, but an extract from a real conversation with the buyer. The first and most important question to be answered is "Why?" Common answers are: for my own and family pleasure, for investment (capital conservation), for rental and stable income, for the children’s and grandmother’s sea vacations (like a cottage) and dozens of other "I want". Unfortunately, the choice has to be made at the first stage. You cannot buy cheap apartment and rent it expensive, it is impossible to buy an apartment for personal use and for permanent lease and, unfortunately, there are many other contradictory factors. Of course, you can combine to compromise, but nevertheless, the main motive is the one and only.
Step Two – determine the budget
Think about how much you are ready to spend on a house abroad. Download our catalog page and see what you can buy for this money in the countries considered by you for purchasing. Maybe you should increase the budget or cancel the purchase; maybe you just are not ready to buy what you really need. It is worth remembering that the miracles are so rare in the world so that it’s impossible to find an apartment (as one of our visitors wanted) in Nice, near the sea, with a terrace of 70 square meters for €150,000. Such apartments are at least twice expensive. Every region and city has minimum and maximum prices and objects worth two times lower the market average, simply don’t exist. By the way, the "Encyclopedia of the buyer" offers pricing review for each region; it helps you to navigate through the market of any country in Europe.
You are spending your time trying to make sure that the apartment you like, really worth the money asked for it. Maybe it does make sense to take some time for previewing and finally see more options available for your budget? And in the end to buy the best option, for a better price, which you agree with the seller, as you have enough time.
Step Three – get focused
Usually, buyers first consider several countries or cities to buy in. In this case there is only one advice. It’s necessary to travel, watch, learn, but most of all to decide where you want to buy your new home. You cannot choose between Bulgaria, Germany and Italy. But it is possible to choose between the objects, located in the one region. These even could be 2-3 countries, but they should not be located in different parts of Europe. Believe me, is not easy to visit 100 apartments, even in the same city. The narrower are the boundaries of region / city / area or city areas you choose in, the higher is the chance to find an apartment or house which would really suite you.
Step Four – look
Visit three apartments in January, and another 5 in April is absolutely useless. The market is changing every day and it may totally change in a month. If you are mentally and financially ready, it makes sense to take a week or two, if possible and visit as much objects as you can. If you are not ready to make a decision now, appoint new visits according to the updated criteria. But in any case, don’t "smear" visits during the year. As in this case you have a chance to turn into endless visitor who buys nothing. Prices are rising and suitable options passing by you. In a few years you will become so "famous" that most agencies (selling the most interesting objects) will simply refuse working with you. You might agree that your and other people's time should be respected and spent only when you have the opportunity and know for sure what you want to buy.
Step Five – make a decision
You have viewed 145 apartments and you do not like them. Further research is useless. You need to change the budget, country, city or agent. Further time spending simply doesn’t make sense.
You like an apartment or a house, but you decide to wait as "something else may appear." The market is changing rapidly and if there is something you like, then you need to take it and discuss the price. Otherwise, your apartment will be purchased by someone else. If the option you like most has some disadvantages, you need to adjust your search criteria, but in any case don’t turn into "eternal" buyer, described above.
These are just the first steps, the further ones you may learn from those whom you trust the opportunity to assist you in choosing a new home. A professional will help you to make the right choice. The ee24.com wishes you reliable partners and good shopping!
Our catalog contents more than 165,000 European properties and the "Buyer's encyclopedia" has all the information that will help you to make the right choice.
Text: ee24.com editorial