For those looking to save some money on their next purchase, this article is for you. The European housing market has been tough for a lot of people in recent years. The economic crash of 2008 has made it difficult for many people to become homeowners. However, there are many countries that have seen the benefits and are still affordable places to purchase property.
If you’re looking for a place with good transportation links, vibrant cultural life, and low prices then Bulgaria is your best bet. There are plenty of towns where you can find the perfect home without breaking the bank. But surprisingly, you can even find very cheap houses for sale in Germany. Here is how I did it.
- The Three M’s of Purchasing a Home Abroad
The Three M’s of Purchasing a Home Abroad: Mindset, Monetarily, and Moving.
Mindset: The first step is to make sure you are ready for the move. Make sure to consider the effects this will have on your lifestyle and relationships with friends and family.
Monetarily: Consider how much you are willing to spend on a home abroad – but there’s no need to worry about being overspending. You can find an affordable home abroad that still has all the features you want with the right budgeting – be it in a rural or urban area, with a private pool, or just two bedrooms.
Moving: The final step is obviously moving! But don’t worry about packing all at once; start small and start planning ahead. If you are just looking for an investment, this last step should be managing. Best would be to find someone local who can look after your property.
- Make a List of cheap real estate Possibilities – Consider all your needs and your budget
It is important to think about what your needs are as well as the budget you have for your property. If you are looking for more than one bedroom, there are some less expensive options out there. Keep in mind that without shops to get your daily needs, a lot of these places may not be good enough, but they are worth considering if that is the only thing you’ve got in your budget.
- Smaller towns or villages
Not all small towns or villages are perfect, some of them may not have shops or a school. You may want to consider this before deciding on a smaller town or village.
I invested in some small villages in Germany and it worked out for me, but depending on your language skills or eagerness to do some DIY you may decide a location that suits you better.
- Meet with Experts – Talk to real estate professionals who might be helpful for your search
Once you decided the place it is time to talk to a real estate expert.
It’s not always possible to do a face-to-face meeting, so a virtual meeting might be the best option for you. It can be done through a video chat or even a phone call.
The meeting doesn’t have to be long; it should last enough time for you to get all your questions answered. If you need more insights, don’t hesitate to ask them for another meeting.
- Cash on your investment – resell your European real estate
Many people want to buy property overseas because it offers them a higher return on investment, while also being more affordable than renting or buying locally. There has been a lot of interest in European real estate, as many people are interested in moving there permanently or as an investment opportunity.
If you want to sell your real estate you can list it on a site where they offer free real estate ads.
Conclusion
If you are looking for a way to prepare for the future, then you may want to consider real estate. Europe is an ideal place for this because property prices are reasonable and have a high potential to grow in the future. The European market is a great opportunity because it has not yet peaked and there is still lots of growth potential in the market.
Image by Ansgar Scheffold on Pixabay
