To sell or to let, that is the question
It all depends on the duration and purpose of your stay abroad. If you're moving for a long term, selling your current home could be the best solution. It can be complicated to manage two houses at the same time — one back home and another in your host country — especially when you also have to consider the parameter of distance and time difference. Are you willing to receive calls and messages from tenants, who rightfully have certain expectations from their landlord? Or are you able to book last-minute trips back home in order to maintain and manage your property? However, if you are still not convinced, there's an alternative solution to keeping your home and your peace of mind — assign its operation to a family member or a trustworthy friend, who can run the errands in your absence.
Selling your property before you move abroad may bring some income that will make the purchase of a home abroad easier. But again, think twice. If you are planning regular visits to your home country, having a secured accommodation there can save you a lot of hassle and money.
On the other hand, if you are moving abroad for short term, you may want to consider letting your place instead. You will have a regular source of income during your stay abroad, and you won't have to throw yourself in the real estate market when you're back — unless of course real estate business is something you are passionate about.
List your priorities
Finding a home abroad involves many aspects of your life that you have to weigh. Before you arrive in your destination, take the initiative to connect with other expats, or research the real estate market trends, housing prices, and locations. Don't hesitate to set your expectations well in advance. Expat.com's forum is a rich source of housing information — prices, expat hubs, child friendly neighborhoods, real estate agencies, pet friendly accommodation, and more.
On your arrival, allow yourself some time before signing your lease contract. Visit as many locations and houses as possible in order to get a full image of the real estate market. It's good to go with your instincts, but don't let feelings of enthusiasm decide for you. Be practical and sensible when making the final decision: How noisy is the area? How accessible it is to shops, transport, school, work, etc.? What are your priorities (do you prefer for example a brand new construction with a smaller garden, or are you happy to compromise the luxury, as long as you are in a central location)?
One last thing — largely avoid expat ads that are often located near hotels or in tourist areas. These are often overpriced places without necessarily giving the best value for money.
Tips for finding the ideal home
Often, expats prefer to live close to their work. In places with a developed transport network, you could consider living a bit further away, and commute to your work place. But if you are driving, long everyday journeys by car can become nerve-wracking with time. On the other hand, bustling city centres are not meant for everyone, especially if you're moving with your family, who might be more comfortable in an individual house with a lawn for your kids to play. This does not necessarily mean that you have to isolate yourself — just make sure that basic amenities are also close by.
Have you decided whether you want to live in a house or a flat? If you're moving alone, renting a studio could perfectly fit your budget. In smaller and less popular cities, where the real estate market is less saturated, you can perhaps afford a lovely two-bedroom apartment, or even a house. In any case, we advise you to settle for furnished housing, especially if you're moving to a far away destination. Packing and sending your belongings and furniture can be costly — not to mention the waiting period.
If you are relocating together with your pet, make sure that you have researched in advance the pet policies and pet friendly accommodation types. Property owners are often relunctant to let their property when it comes to pets. But as a responsible pet owner, it's your duty to ensure that your pet will enjoy its new home and environment as much as you will.
You are almost there, but before you put your signature, read and crosscheck the lease or sale contract. As an expatriate, you do not necessarily know what to expect from this new life abroad, and your circumstances may change from one day to another. So, understand your lease contract, and make sure you're aware of the prior notice you should give before vacating the property. An inventory is also recommended. But do not take it lightly — pay attention to detail to avoid unpleasant surprises. Indeed, the owner has the right to ask you to pay for any damage, which however you may not have caused. Finally, clarify the tenant's rights: Can you receive guests, hold parties, park your car in an allocated spot, decorate your home, etc.?
We hope moving abroad to be one of the best decisions you have taken in your life. Finding new acommodation isn't an easy task, but it can go smooth with good planning. Whether you rent or buy a home, make sure that it meets your needs and expectations.
Leave us a comment: What about you? What happened to your house or flat back home? Would you advise a new expat to rent or buy a house?
