Thinking of Moving Abroad? With REMOTE WORK and the now endless opportunities to live where you want (and if you want to still work, remote is an option) then FINDING a place to call Home in another country can cause you even more anxiety / stress and OPTIONS. What you need to know – is going to be dependent upon WHERE you are looking to move to – what country, what are the residency requirements, what are the loan options available – and so many more variables to consider that you otherwise may not begin to know – until you are in the thick of it.
Working with a Realtor who has their CIPS designation here in the US is a great way to start your process. Why? Because, they have a foundation of understanding the international market as well as having many contacts in other countries. Once you have an idea of the country / region / town you want to move to – then “the fun” can begin. Being put into contact with a real estate professional who is then LOCAL to your choice, is a smart move – although the process may vary from what USA practices are, they will likely have similar association and professional standards.
Once this part is in the works – you will need to make sure that a LENDER is able to work with you on an INTERNATIONAL LEVEL – this again, is going to depend on what country you are selecting; but, as an example US Citizens cannot just get a loan in the US from their bank and then use for the purchase of a property in a foreign land. So having the assistance of your CIPS Realtor here – will be able to assist you in this navigation process of finding the right lender for the country you are seeking to move.
Other things to consider:
- Residency rules of the country vs Expat status vs Citizenship
- Currency transaction requirements
- Title and Ownership process
- LANGUAGE Barriers (especially when dealing with contracts and laws)
Here is an International Lender with experience to help US Citizens to be able to purchase in other countries (be sure to confirm requirements for the country you are interested in): https://www.americamortgages.com/us-citizen-overseas/
Tammy’s best advice, ALWAYS travel to the potential spot and spend a longer than a week 😉 BEFORE making the life changing decision. In the fun of a vacation it is easy to fall in love with a place / atmosphere / people – but what is the reality when you are there for the long-haul, have to work and no longer just get to casually stroll thru the streets? THAT is when you can find the real place for you to call home – when you know that it is just the right spot in the world that makes your heart full, the senses invigorated and the future bright!! Many happy travels in your search of finding HOME.