Safety and security
Buying a resort property abroad can be just as safe and secure as buying a home where you live, provided you follow a few simple principles.
Buying overseas doesn’t have to feel like a leap of faith. Follow the checklist below and you’re applying exactly the same discipline you’d use buying a home in your own country.
Our checklist before you buy
These are the things we recommend every buyer does, without exception, before committing to any resort property purchase.
Always view it in person
Even if the property is off-plan or far from home, go and feel the location for yourself. Photos and floor plans can’t tell you what the street feels like, how far the beach really is, or what the neighbourhood is like at different times of day. A visit, even a short one, is the single best piece of due diligence you can do yourself.
Always use an independent solicitor
Use a solicitor who works for you, not one recommended by the developer or selling agent with an interest in the sale going through. An independent lawyer reviews the contract, the title, and the licensing on your behalf, with no incentive other than protecting your position.
Always buy from a branded resort with the financial strength to weather a storm
Choose a development backed by a brand and a developer with the financial resilience to ride out a downturn, a quiet season, or a wider economic shock, not just the resources to finish building. A strong brand behind the property is what keeps it standing, and keeps it earning, when conditions get harder.
Always check planning, feasibility, and that the land is owned outright
Confirm the development has full planning permission and a proper feasibility study behind it, and that the developer owns the land it’s being built on outright, with no mortgage attached. A development built on land that’s still mortgaged carries a hidden risk, if the developer defaults, the lender’s claim on the land can sit ahead of yours.
Buy for your actual goal, not your own taste
One of the most common mistakes buyers make is choosing a property that appeals to them personally, rather than the market they’re actually trying to serve.
If you’re buying somewhere you intend to live in yourself, buy what you love. But if you’re buying primarily to generate rental income, buy what will appeal to the widest possible pool of renters, not necessarily what would be your own first choice. The two goals can pull in different directions, and being honest with yourself about which one you’re actually pursuing is one of the most valuable things you can do before you buy.
A simple way to think about it
Buying to live in it yourself: buy what works for you. Buying to rent it out: buy what works for the most people, not just for you. Confusing the two is one of the easiest ways to end up with a property that underperforms.
Want to talk through your own situation?
We can help you think through what actually fits your goals before you commit to anything.