Saturday, October 18, 2008

Buying Overseas Vacation Homes ? The First Question You Should Ask Yourself

Before you buy any overseas vacation home you need to ask yourself one important question before you begin and fact is many people do not and end up dissapointed. So here it is..

Do you want to immerse yourself in the local culture or do you want to have the comforts of home?

Keep in mind when you go on holiday to a destination living in a hotel is totally different to living in the wider community.

Many people don?t consider this question when they buy an overseas vacation home and end up getting a different lifestyle to what they anticipated and end up disappointed.

The local Culture

There are many new areas where you can buy overseas investment vacation homes and their cheap.

They don?t have well established foreign communities and this means that many of the comforts buyers expect are not available.

In Latin America for example Belize, Nicaragua, Honduras and the Dominican Republic are emerging. In Europe, Romania has been touted as the destination of the future.

But try these destinations and you may have a culture shock.

Street children, crime, you can?t drink the water, roads and communications that are poor and there is little to do apart from admire the scenery.

Buying Established destinations

When buying an overseas vacation home part of the fun is having access to a different culture but most people want the comforts of home as well.

They want high quality entertainment, good facilities and shops their familiar with to name but a few.

Buying an overseas vacation home in one of these established destinations gives you the best of both worlds.

For North Americans the lifestyle they can associate with most is in Panama and Costa Rica with the latter being a huge favourite. In Europe established destinations include Spain and Cyprus.

You get what you pay for

When buying an overseas vacation home in these areas you get what you pay for ( although its still normally far cheaper than buying at home ) and although you pay a bit more the growth potential ( if you are looking for a return on your investment ) is normally much better in terms of risk ? reward, than an un proven emerging destination

Your preference

Of course, there are many people who buy an overseas vacation home and enjoy immersing themselves in the local culture, but most people want both comforts of home and the local culture.

If you want both look for established destinations that have large and growing foreign communities that bring the comforts of home with them.

Don?t worry, these places tend to have great risk to reward in terms of capital growth for investment simply because they are in high demand.

Keep in mind the majority of new hot spots fail becuase they cannot attract significant numbers of foreign investors to make the ammenities attractive enough for significant numbers to follow and prices tend to dive.

A good time in a hotel is not the same!

As living in the country you have been to!

If you are buying an overseas vacation home keep this in mind and before you live their.

Try living outside of a hotel in the local area to get a feel for whether you will enjoy the lifestyle or not.

One of the most popular destinations for Americans and Europeans is Costa Rica an established destination with great comforts and lifestlye but also the opportunity to make significant capital gains as well. Take a look at the facts and you will see why it is so popular.


On living and in this paradise location as well as all the facts you need to make an informed judgement as well as the opportunity to enter a FREE prize draw and see the country for yourself visit:

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