While moving abroad to live is a very difficult and stressful time, this can be nothing compared to the trouble and cost if you do not follow the local rules and regulations with regards to buying your new home.  Many expats have fallen into the trap of automatically assuming the process for buying a property will be the same as the country they are leaving.  This is not the case! 

Planning laws can be very different, there may be ownership restrictions together with a vast array of other local requirements.  You need to make use of local advisers who speak the local language, and it is essential that you get  copy of the agreement drafted in your own language - a translator is essential.  Not cheap, but a lot cheaper than losing your money because of the small print!

You would be surprised by the number of buyers who do not check out their agents, advisers, etc before parting with vast sums of money.  The internet is freely available, there are thousands of people moving abroad each year, and you need to check feedback from the people who have been there and done it.

Imagine how you would feel if you appointed an agent to acquire a property for you, only to be the subject of a fraud, then found out that if only you have checked the internet you could have been alerted.  Do not think it will never happen to you, that is what everyone else thought.

While there are obviously many things to consider when looking to buy a property here are some useful tips for Expats on buying property abroad :-

• If you have not been able to acquire a property abroad on one of your visits to the country of your choice, seriously consider renting in the short term.  Renting is much quicker than buying and agreements can often be completed almost immediately.  By renting a property in the short term, it give you a chance to check out the local property market more carefully, and relieves some of the pressure to buy immediately.
  
  
• Always, always appoint a local adviser - preferably someone who is either recommended by a friend (or perhaps an expat in that country), and make clear your requirements.  Leave nothing to chance, and always ensure that every agreement and payment which you make is noted, and you receive the relevant receipts and confirmations.
  
  
• Take your time.  When in a new country with a new culture and often beautiful buildings, it can be easy to fall in love with the first property you see.  Ensure that you take your time and give yourself at least a couple of days “cooling off” time to consider and think about the property which best suits you.  Scour the property pages, the internet and visit as many places as you can to give you a general feel as to what you should expect.
  
  
• Paperwork.  Always ensure that both your residency paperwork and property paperwork are in place, because many people have been duped into thinking they have acquired a property, only to find out it is not theirs.  By the time the authorities are informed, the fraudsters have very often disappeared.
  
  
• Do not try to cut expenses! While it is very easy to try and cut the cost of acquiring a property overseas, do not be tempted to go down this route.  You would never try and cut corners buying a property in your own country, so why try in a land where you have limited knowledge? Do it correctly and you will have no worries in the future.
  
  
• Finance. Always ensure you have finance in place before agreeing to purchase a property.  Many overseas countries have a system whereby a deposit must be paid if an agreement is reached in principle.  If you decide to change your mind (with no specific reason to back this up) you may well lose your deposit.
  
  
• Taxes.  Always consult your local adviser and ensure that all relevant taxes and payments are made on time.  Do not give the authorities or a third party any reason to slow down or stop the transaction, so long as you are happy.  Slow payment of tax to the government by a foreign national would not go down very well in your new home country.
  
  
• Know you market.  Do not try to guess whether a property is fairly priced, expensive, cheap, etc.  Leave this to the experts, who know the local market, and the direction of the prices.  There have been a number of instances, e.g. Spain, where the general property market has fallen back, but some agents have been slow to adjust the prices of various properties.  This has led to some buyers paying over inflated prices, simply because they did not have any knowledge of the local property market.
  
  
• Do not over stretch yourself! A number of expat have often jumped into the property market of their new country without think about the possibility of interest rates rising.  This has left many seeing a substantial increase in their mortgage repayments, often leaving them with a lower budget than they had planned.  Never over extend your debt situation - always leave a little bit for a “rainy” day.
  

Research amongst expats has shown that many are in such a rush to actually acquire that dream property that they do not always end up with the right property or the right deal.  People often use their life savings to start a new life abroad so it is essential that you do the right deal, at the right time for the right price.