By Roy Thomsitt
At first thought, undergoing advanced career training has one obvious, and maybe only, reason: to further your current career. Whether you are considering advanced real estate career training, medical career training, or advanced training for any other occupation, the likelihood is that furthering your current career is the motivation behind your move. However, furthering your current career need not be the sole reason you may consider advanced career training. Furthermore, there may be good reasons for undertaking such training you have not even thought of. In fact, there are both positive (offensive) and negative (defensive) reasons for considering, and undertaking, advanced career training.
All of these are discussed in this article.
Positive Reasons For Taking Advanced Career Training
When one thinks of advanced career training, then it is the positive reasons for such training that are mostly likely to come to mind, such as:
1. To increase chances of promotion by taking training courses that prepare you for the next level, such as office manager in a real estate business or extra medical training to become a surgeon.
2. To keep up to date with developments in your area of expertise, to enable you to do a better job and, for example, treat customer or patients better.
3. Specialist training in a part of your current career that will enable you to specialise in that particular aspect of your work.
4. Completing training courses successfully in your field can look good on your resume, if the training is relevant and in demand.
5. You may want to have a career change for which particular training is necessary in preparation.
Negative Reasons For Taking Advanced Career Training
One could argue that any career training is positive, and in a way that is true. Growth in knowledge and skills is always a positive development of self. However, in the context of long term career, training can have a defensive element which could be construed as a negative reason to undergo advanced training.
Here are some of the reasons advanced career training may help you defensively.
1. If you take the initiative to train in and acquire in demand or rare skills, then if there is any constriction in the employee numbers with your current employer, then you are less likely to face redundancy.
2. If ever you are made redundant, then your increased skill base, coming from your advanced training, should improve your chances of getting a job quickly.
3. The better and more up to date and in demand your skills and, knowledge and training, the better equipped you are to become freelance, start your own business and take more risks in taking a leap forward in your career.
It is wise to see advanced career training as an integral part of career development and continuing education. When you reach key points in your career, you will then always be better prepared for whatever may come along. Those who do not develop themselves over the years, are the most vulnerable to long term or even permanent unemployment.
This advanced career training article was written by Roy Thomsitt, owner and part author of the Routes To Self Improvement website. NU U, an exciting devlopment in ezines. Our new Self improvement ezine in audio. Sign up now for regular audios on subjects such as meditation, self esteem, shyness and many more self improvement topics.
Wednesday, November 29, 2006
Thursday, November 23, 2006
Travel real estate: How about Nova Scotia, Dominica, Panama or Cuba?
By Susanne Pacher
Many of us dream of relocating to another country, perhaps to enjoy warmer weather, perhaps to experience a slower-paced lifestyle, perhaps because of a job transfer, or maybe simply because we are intrigued by a certain element of adventure and curiosity. While moving to another country may sound like an exciting proposition, it is a very serious decision with major ramificiations, and there are many factors to take into account in making this decision. I had a chance to talk with Phillip Townsend, author of the e-Book, Passport to Canada: The Complete Guide to Living & Retiring in Nova Scotia, and special e-Reports of living and retiring in Panama, the Caribbean and Cuba.
1. Please tell us about yourself and your background. As an American who had a teenage fascination with Asian culture, after high school, I got a part-time job, saved my money and purchased a one-way ticket to Taiwan, Republic of China. After arriving in the Far East, I taught English and eventually landed an internship with SIDA, a German-based global risk consulting firm. After working as an intern and completing an extensive training program, my work took me to 13 East Asian countries, where I assisted corporate and government clients with international research and other consulting projects. After returning to the United States, I opened and ran the firm's U.S. office until the company went out of business several years later. Afterwards, my career shifted and I began writing freelance and consulting independently, Later, I was hired as stringer (correspondent) for Money magazine, America's leading personal finance monthly. After leaving, I wrote a biweekly international lifestyle Q&A column for the International Employment Gazette, which also appeared monthly in Industrial Tradesman magazine. I have assisted the governments of Sri Lanka and Ethiopia on promoting tourism and trade (and was considered for an official diplomatic post with the latter). My articles and other writings have appeared in publications as diverse as GQ, the San Francisco Chronicle and Expat World. Currently, I spend most of my time writing and researching. I'm also a Country Contact for American Citizens Abroad, representing the Switzerland-based non-profit organization in Nova Scotia. I have always been a so-called man of the world, and don't believe there is any single "best" country, but rather believe in reaping the unique benefits that each nation has to offer.
2. You are an expert on living and retiring in various regions, including Nova Scotia, the Caribbean, Panama and Cuba. Please tell us about how you became an expert on these topics. In addition to my experience living abroad and traveling widely, over the years, I have dedicated my life to international living, conducting extensive research and advising hundreds of clients on every aspect of moving abroad and strategic planning (offshore personal and financial issues). I've assisted people from all walks of life with moves to over sixty countries and six continents.
3. Please tell us about living, retiring, travelling and investing in Nova Scotia. What makes Nova Scotia a great destination for expatriate or retirement living? Nova Scotia is the type of place that can seduce you through its sheer natural beauty: The long stretches of picturesque coastline, a beatiful countryside, friendly people and a slower pace and reasonable prices make it one of the most livable places in Canada or anywhere in North America. The climate is another plus. In many places in Nova Scotia, winters can be much milder (with less snow) than in other places in Canada or the northern US. Also, Nova Scotia enjoys a low crime rate, with incidents of violent crime being remarkably low. Perhaps the most appealing benefit of living in Nova Scotia are the affordable real estate prices (some lots with ocean views can be had for as little as C$20,000).
4. Please inform us about living, travelling and investing in Dominica. What should one know about living and retiring to this beautiful island in the Caribbean? With no direct flights from North America or Europe, Dominica is welcome retreat of peace and quiet in the Caribbean's sea of mass tourism. Roughly halfway between Martinique and Guadeloupe, the island is splendidly underdeveloped. A land of waterfalls, rivers (365 of them), hot springs, and lush rain forests, Dominica is the Caribbean’s most rugged isle. Instead of luxury resorts and long stretches of crowded white sand beaches, you'll find volcanic mountains, intimate beaches, little-explored reefs and small hotels (some of which are for sale for a steal). Unlike most of the Caribbean's islands, which cater to tourists and the high-end market, Dominica's prices are refreshingly down-to-earth. For example, you can find oceanfront lots for prices ranging from C42,000 to C58,000, and build a home for as little as C$28,000 to C$47,000.
5. Please give us a brief overview about living, travelling and investing in Panama. What makes this a desirable place and what do we need to know about it? Panama's coast, both on the Caribbean and Pacific sides, is like Florida, but less crowded and with property prices about a tenth of the cost in many cases. Panama offers affordable real estate, a warm climate and great beaches. In order to attract expatriates, the Panamanian government has put together an impressive list of benefits in their pensionado program, including 20-year tax-free status and discounts on everything from public transportation to restaurants to doctor's visits. Best of all, anyone over 18 can qualify for these "retirement" benefits. Though Spanish is the official language, English is widely spoken and understood in major cities. Right now, the three best places to purchase real estate in Panama are Panama City, the capital which boasts First-world infrastructure and is home to virtually every large American brand-name chain; Boquette, a scenic and growing expatriate hideaway in Panama's mountainous region; and the Pearl Islands, a chain of over 90 islands and 130 islets in the Caribbean.
6. Please talk to us about living, travelling and investing in Cuba. What makes this unique island an interesting destination for foreigners thinking of living or retiring there? What do they need to know about Cuba before considering to move there? Cuba is home to just over 11 million people, with more than 2 million living in the capital, Havana. The island's Cuba's rich culture, interesting political history, and continued economic hardship make it one of the world's most eye-opening nations with a wealth of places just waiting to be discovered. The food, music, and, most of all, the warm hospitality of the Cuban people all combine to make it a great place to visit and potentially live. U.S. officials say open trade and travel to Cuba would strengthen Castro's oppressive government. But critics argue that the Cold War-era U.S. embargo, aimed at forcing a change in Cuba's leadership, has not achieved its goals after being in place for more than 40 years. Despite the embargo, last year, 200,000 Americans visited Cuba (most through Canada or Mexico). Though most would-be expatriates will wait until the fall of the Castro-lead communist rule, a few have already made an investment in the "forbidden" isle by putting down roots there, with the hope that property values and other investments will multiply after the fall of communist rule.
7. Where are you currently travelling and what is on your agenda for the near future? Currently, I'm in upstate New York, but will be exploring some interesting locales in South America and Eastern Europe. I plan to continue my ongoing pursuit of reporting on new and interesting expatriate destinations around the world. 8. In general, what are your suggestions for anyone thinking of living or retiring abroad? Many Canadians and Americans are lured abroad by a lower cost of living and higher quality of life. Some will want to return to their ancestral homes or to places where they once vacationed, worked or studied, and fell in love with a country. Others will be enticed by retiree perks and tax incentives. With literally dozens of appealing countries to choose from, narrowing the possibilities can be a daunting task. No matter where you consider settling, the most important thing is to do your homework. Make an exploratory visit and stay for a few months before committing yourself by purchasing property. Be sure to talk with locals and expatriates living there. Most importantly, consult competent real estate and legal professionals before signing any contracts or other official documents. While every place has it own set of rules and nuances, the process of buying abroad generally works like this: First, the buyer and the seller to agree on a price, a security deposit (generally, 10 to 25 percent) will probably be required to take the house off the market. Your attorney should then receive a copy of the title and verify that the property is free from any liens or claims against the property.
They should also advise you of any strange archaic laws, like those in parts of Canada that allow anyone to fish on your land, those in England and France that allow sheep to pass through your property, those in rural Italy that give your neighbors first-refusal rights on any land used for agricultural purposes (which could leave someone else with the fruit in the vineyard or olive grove on "your" property), or historic construction bans that prevent you from making any external changes to a property (even installing a pool). Also, if you are buying anything in need of restoration (or more than a hundred years old), have a structural survey done. Thank you, Phillip, for providing us with further ideas and important background information about a few interesting choices on living and retiring abroad.
Phillip Townsend is author the e-Book, Passport to Canada: The Complete Guide to Living & Retiring in Nova Scotia, and special e-Reports of living and retiring in Panama, the Caribbean and Cuba.
For more information, visit: http://www.thegloballife.net/
Many of us dream of relocating to another country, perhaps to enjoy warmer weather, perhaps to experience a slower-paced lifestyle, perhaps because of a job transfer, or maybe simply because we are intrigued by a certain element of adventure and curiosity. While moving to another country may sound like an exciting proposition, it is a very serious decision with major ramificiations, and there are many factors to take into account in making this decision. I had a chance to talk with Phillip Townsend, author of the e-Book, Passport to Canada: The Complete Guide to Living & Retiring in Nova Scotia, and special e-Reports of living and retiring in Panama, the Caribbean and Cuba.
1. Please tell us about yourself and your background. As an American who had a teenage fascination with Asian culture, after high school, I got a part-time job, saved my money and purchased a one-way ticket to Taiwan, Republic of China. After arriving in the Far East, I taught English and eventually landed an internship with SIDA, a German-based global risk consulting firm. After working as an intern and completing an extensive training program, my work took me to 13 East Asian countries, where I assisted corporate and government clients with international research and other consulting projects. After returning to the United States, I opened and ran the firm's U.S. office until the company went out of business several years later. Afterwards, my career shifted and I began writing freelance and consulting independently, Later, I was hired as stringer (correspondent) for Money magazine, America's leading personal finance monthly. After leaving, I wrote a biweekly international lifestyle Q&A column for the International Employment Gazette, which also appeared monthly in Industrial Tradesman magazine. I have assisted the governments of Sri Lanka and Ethiopia on promoting tourism and trade (and was considered for an official diplomatic post with the latter). My articles and other writings have appeared in publications as diverse as GQ, the San Francisco Chronicle and Expat World. Currently, I spend most of my time writing and researching. I'm also a Country Contact for American Citizens Abroad, representing the Switzerland-based non-profit organization in Nova Scotia. I have always been a so-called man of the world, and don't believe there is any single "best" country, but rather believe in reaping the unique benefits that each nation has to offer.
2. You are an expert on living and retiring in various regions, including Nova Scotia, the Caribbean, Panama and Cuba. Please tell us about how you became an expert on these topics. In addition to my experience living abroad and traveling widely, over the years, I have dedicated my life to international living, conducting extensive research and advising hundreds of clients on every aspect of moving abroad and strategic planning (offshore personal and financial issues). I've assisted people from all walks of life with moves to over sixty countries and six continents.
3. Please tell us about living, retiring, travelling and investing in Nova Scotia. What makes Nova Scotia a great destination for expatriate or retirement living? Nova Scotia is the type of place that can seduce you through its sheer natural beauty: The long stretches of picturesque coastline, a beatiful countryside, friendly people and a slower pace and reasonable prices make it one of the most livable places in Canada or anywhere in North America. The climate is another plus. In many places in Nova Scotia, winters can be much milder (with less snow) than in other places in Canada or the northern US. Also, Nova Scotia enjoys a low crime rate, with incidents of violent crime being remarkably low. Perhaps the most appealing benefit of living in Nova Scotia are the affordable real estate prices (some lots with ocean views can be had for as little as C$20,000).
4. Please inform us about living, travelling and investing in Dominica. What should one know about living and retiring to this beautiful island in the Caribbean? With no direct flights from North America or Europe, Dominica is welcome retreat of peace and quiet in the Caribbean's sea of mass tourism. Roughly halfway between Martinique and Guadeloupe, the island is splendidly underdeveloped. A land of waterfalls, rivers (365 of them), hot springs, and lush rain forests, Dominica is the Caribbean’s most rugged isle. Instead of luxury resorts and long stretches of crowded white sand beaches, you'll find volcanic mountains, intimate beaches, little-explored reefs and small hotels (some of which are for sale for a steal). Unlike most of the Caribbean's islands, which cater to tourists and the high-end market, Dominica's prices are refreshingly down-to-earth. For example, you can find oceanfront lots for prices ranging from C42,000 to C58,000, and build a home for as little as C$28,000 to C$47,000.
5. Please give us a brief overview about living, travelling and investing in Panama. What makes this a desirable place and what do we need to know about it? Panama's coast, both on the Caribbean and Pacific sides, is like Florida, but less crowded and with property prices about a tenth of the cost in many cases. Panama offers affordable real estate, a warm climate and great beaches. In order to attract expatriates, the Panamanian government has put together an impressive list of benefits in their pensionado program, including 20-year tax-free status and discounts on everything from public transportation to restaurants to doctor's visits. Best of all, anyone over 18 can qualify for these "retirement" benefits. Though Spanish is the official language, English is widely spoken and understood in major cities. Right now, the three best places to purchase real estate in Panama are Panama City, the capital which boasts First-world infrastructure and is home to virtually every large American brand-name chain; Boquette, a scenic and growing expatriate hideaway in Panama's mountainous region; and the Pearl Islands, a chain of over 90 islands and 130 islets in the Caribbean.
6. Please talk to us about living, travelling and investing in Cuba. What makes this unique island an interesting destination for foreigners thinking of living or retiring there? What do they need to know about Cuba before considering to move there? Cuba is home to just over 11 million people, with more than 2 million living in the capital, Havana. The island's Cuba's rich culture, interesting political history, and continued economic hardship make it one of the world's most eye-opening nations with a wealth of places just waiting to be discovered. The food, music, and, most of all, the warm hospitality of the Cuban people all combine to make it a great place to visit and potentially live. U.S. officials say open trade and travel to Cuba would strengthen Castro's oppressive government. But critics argue that the Cold War-era U.S. embargo, aimed at forcing a change in Cuba's leadership, has not achieved its goals after being in place for more than 40 years. Despite the embargo, last year, 200,000 Americans visited Cuba (most through Canada or Mexico). Though most would-be expatriates will wait until the fall of the Castro-lead communist rule, a few have already made an investment in the "forbidden" isle by putting down roots there, with the hope that property values and other investments will multiply after the fall of communist rule.
7. Where are you currently travelling and what is on your agenda for the near future? Currently, I'm in upstate New York, but will be exploring some interesting locales in South America and Eastern Europe. I plan to continue my ongoing pursuit of reporting on new and interesting expatriate destinations around the world. 8. In general, what are your suggestions for anyone thinking of living or retiring abroad? Many Canadians and Americans are lured abroad by a lower cost of living and higher quality of life. Some will want to return to their ancestral homes or to places where they once vacationed, worked or studied, and fell in love with a country. Others will be enticed by retiree perks and tax incentives. With literally dozens of appealing countries to choose from, narrowing the possibilities can be a daunting task. No matter where you consider settling, the most important thing is to do your homework. Make an exploratory visit and stay for a few months before committing yourself by purchasing property. Be sure to talk with locals and expatriates living there. Most importantly, consult competent real estate and legal professionals before signing any contracts or other official documents. While every place has it own set of rules and nuances, the process of buying abroad generally works like this: First, the buyer and the seller to agree on a price, a security deposit (generally, 10 to 25 percent) will probably be required to take the house off the market. Your attorney should then receive a copy of the title and verify that the property is free from any liens or claims against the property.
They should also advise you of any strange archaic laws, like those in parts of Canada that allow anyone to fish on your land, those in England and France that allow sheep to pass through your property, those in rural Italy that give your neighbors first-refusal rights on any land used for agricultural purposes (which could leave someone else with the fruit in the vineyard or olive grove on "your" property), or historic construction bans that prevent you from making any external changes to a property (even installing a pool). Also, if you are buying anything in need of restoration (or more than a hundred years old), have a structural survey done. Thank you, Phillip, for providing us with further ideas and important background information about a few interesting choices on living and retiring abroad.
Phillip Townsend is author the e-Book, Passport to Canada: The Complete Guide to Living & Retiring in Nova Scotia, and special e-Reports of living and retiring in Panama, the Caribbean and Cuba.
For more information, visit: http://www.thegloballife.net/
Sunday, November 19, 2006
Buying a Property in France: Where to Live?
By David Seymour
As the largest country in Western Europe, there is a huge choice of locations if you want to look at French property for sale. Where you would like to live depends upon many different issues, such as whether you like a place with many neighbours or you prefer a more isolated area, or whether you prefer to have an apartment or a detached home on its own land, and the suitability of an area for your family’s needs.
The price of the property depends on location as well. While Paris is among the most expensive capitals in the world for buying property, you will find that in the rest of France prices are quite reasonable, and in many cases more affordable than similar properties in the UK. Another thing to bear in mind is whether you have your own means of transport, or you depend on public transport to get around. You might want to choose an easily accessible location if you travel a lot.
France has an excellent network of roads and railways throughout the country, so in general you would never experience any difficulty getting to and from your property. But if you travel a lot throughout the year, on business for example, you might want to consider living in the vicinity of an airport or train station.
Air France offers a domestic network covering the entire country from its hubs in Paris, Lyon, Bordeaux and Marseilles, and it’s easy to connect to other flights when arriving from the UK or any other country. Various airlines are also offering more and more direct flights between smaller airports, making reaching your final destination even easier. Then of course there is also the TGV, the French high-speed train, which in many cases is as fast as or even faster than the airplane to travel within France. On a more local level, you’ll have to decide whether you need to be close to a town or village. You may have friends in certain location Generally speaking the closer to a town a property is, the more it will cost.
On the other hand, if you prefer to have more land around the house, it is more likely you will find it farther away from the towns. So basically deciding where you would like to live is a combination of many different factors, and a matter of weighing pros and cons. Of course when searching for French property for sale, the single most important factor is your budget.
When searching for a suitable French property, particularly in the south west of France, you are likely to conclude that for the money you’d spend on a property in the UK, in France you will be able to buy much more for the same price.
Seymour-James promotes property for sale south west france. In particular, property for sale in Bordeaux, Arcachon, the Gironde and further afield into the Charente, Lot-et-Garonne and the Gers.
As the largest country in Western Europe, there is a huge choice of locations if you want to look at French property for sale. Where you would like to live depends upon many different issues, such as whether you like a place with many neighbours or you prefer a more isolated area, or whether you prefer to have an apartment or a detached home on its own land, and the suitability of an area for your family’s needs.
The price of the property depends on location as well. While Paris is among the most expensive capitals in the world for buying property, you will find that in the rest of France prices are quite reasonable, and in many cases more affordable than similar properties in the UK. Another thing to bear in mind is whether you have your own means of transport, or you depend on public transport to get around. You might want to choose an easily accessible location if you travel a lot.
France has an excellent network of roads and railways throughout the country, so in general you would never experience any difficulty getting to and from your property. But if you travel a lot throughout the year, on business for example, you might want to consider living in the vicinity of an airport or train station.
Air France offers a domestic network covering the entire country from its hubs in Paris, Lyon, Bordeaux and Marseilles, and it’s easy to connect to other flights when arriving from the UK or any other country. Various airlines are also offering more and more direct flights between smaller airports, making reaching your final destination even easier. Then of course there is also the TGV, the French high-speed train, which in many cases is as fast as or even faster than the airplane to travel within France. On a more local level, you’ll have to decide whether you need to be close to a town or village. You may have friends in certain location Generally speaking the closer to a town a property is, the more it will cost.
On the other hand, if you prefer to have more land around the house, it is more likely you will find it farther away from the towns. So basically deciding where you would like to live is a combination of many different factors, and a matter of weighing pros and cons. Of course when searching for French property for sale, the single most important factor is your budget.
When searching for a suitable French property, particularly in the south west of France, you are likely to conclude that for the money you’d spend on a property in the UK, in France you will be able to buy much more for the same price.
Seymour-James promotes property for sale south west france. In particular, property for sale in Bordeaux, Arcachon, the Gironde and further afield into the Charente, Lot-et-Garonne and the Gers.
Monday, November 13, 2006
Tips for Purchasing a Vacation Home
By Mark Nash
Investing in a vacation home might be for the pleasure you receive from it, than as a real estate investment. Second homes can bring enjoyment to you and your family, but buying at the right price and time, can make all the difference between profit and loss. Be sure to visit your proposed purchase destination both in-season and out-of-season.
Many vacation spots are desolate off-peak. It might be easy to buy the cheapest property as a second home, but good resale characteristics are what you should looking for.
Buy a home with at least two bedrooms and two baths, people always have friends and family visiting their second home.
Look for a good location, you'll enjoy it and so will buyers when you go to sell.
Stay away from allot of fixing-up, many a second home owner burned out from all the work that a supposed "vacation home" created.
Buy a property within an easy days commute to it. Remote locations that chew up travel time on vacations have limited appeal.
Here are some additional tips:
-If the home is on a water well and septic, have them inspected by a professional.
-The best time to buy a vacation home is the first season after peak season. Many second home owners want to use it one-last-season, then sell and have the carrying costs. Inventories of resale homes are greatest off-season and at reduced prices.
-Find locations that offer long seasons for golfing, boating, and skiing. Some resorts have off-season alternative activities that can bring you back for a respite in slower times.
-Retiring down the road to your second home brings to mind some things you should consider. Are some of the or the lack of seasons that don't appeal to you? How is traffic in-season, you might have retired to get away from grid-lock, but very popular vacation and resort areas can have massive back-ups in season.
-You might enjoy renting your vacation home now, but when you retire will you want the transient nature that short-term rentals bring?
-Don't rely on seasonal rental to cover all your costs. Off-season may be too hot or rental rates drop so low, that the cleaning service, management fees eat up profits. Verify that any resort or condotel allows short-term rentals in season.
-Anticipate all the costs for renovation and refurnishing. Sometimes it might be cheaper to start over. or to buy new construction.
-Buying furnished vacation homes is typical. If you're going to rent your home, make sure the rental manager approves of the furniture you're buying with the property. Out-dated and well-worn furniture won't cut it today with savvy vacation renters.
Mark Nash is the author of "Fundamentals of Marketing for the Real Estate Professional", "Starting & Succeeding in Real Estate", "Reaching Out: The Financial Power of Niche Marketing", and "1001 Tips for Buying and Selling a Home". Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Principal Broker, and Realty Times. His tried and true real estate tips has been featured on Business Week, CBS The Early Show, CNN, HGTVpro.com, The New York Times, and USA Today. Purchase his books at http://www.1001realestatetips.com/.
Investing in a vacation home might be for the pleasure you receive from it, than as a real estate investment. Second homes can bring enjoyment to you and your family, but buying at the right price and time, can make all the difference between profit and loss. Be sure to visit your proposed purchase destination both in-season and out-of-season.
Many vacation spots are desolate off-peak. It might be easy to buy the cheapest property as a second home, but good resale characteristics are what you should looking for.
Buy a home with at least two bedrooms and two baths, people always have friends and family visiting their second home.
Look for a good location, you'll enjoy it and so will buyers when you go to sell.
Stay away from allot of fixing-up, many a second home owner burned out from all the work that a supposed "vacation home" created.
Buy a property within an easy days commute to it. Remote locations that chew up travel time on vacations have limited appeal.
Here are some additional tips:
-If the home is on a water well and septic, have them inspected by a professional.
-The best time to buy a vacation home is the first season after peak season. Many second home owners want to use it one-last-season, then sell and have the carrying costs. Inventories of resale homes are greatest off-season and at reduced prices.
-Find locations that offer long seasons for golfing, boating, and skiing. Some resorts have off-season alternative activities that can bring you back for a respite in slower times.
-Retiring down the road to your second home brings to mind some things you should consider. Are some of the or the lack of seasons that don't appeal to you? How is traffic in-season, you might have retired to get away from grid-lock, but very popular vacation and resort areas can have massive back-ups in season.
-You might enjoy renting your vacation home now, but when you retire will you want the transient nature that short-term rentals bring?
-Don't rely on seasonal rental to cover all your costs. Off-season may be too hot or rental rates drop so low, that the cleaning service, management fees eat up profits. Verify that any resort or condotel allows short-term rentals in season.
-Anticipate all the costs for renovation and refurnishing. Sometimes it might be cheaper to start over. or to buy new construction.
-Buying furnished vacation homes is typical. If you're going to rent your home, make sure the rental manager approves of the furniture you're buying with the property. Out-dated and well-worn furniture won't cut it today with savvy vacation renters.
Mark Nash is the author of "Fundamentals of Marketing for the Real Estate Professional", "Starting & Succeeding in Real Estate", "Reaching Out: The Financial Power of Niche Marketing", and "1001 Tips for Buying and Selling a Home". Mark is a contributing writer for: Realtor (R) Magazine Online, Broker Agent News, Real Estate Executive Magazine, Principal Broker, and Realty Times. His tried and true real estate tips has been featured on Business Week, CBS The Early Show, CNN, HGTVpro.com, The New York Times, and USA Today. Purchase his books at http://www.1001realestatetips.com/.
Wednesday, November 8, 2006
Alicante - Something for everyone
By Charlotte Baker
The beautiful coastal city of Alicante, on the South East of Spain, is fast becoming one of the most popular areas to have a holiday or second home. Situated on the Costa Blanca – meaning ‘the white coast’ due to its large salt lakes – Alicante is the second largest city in the Land of Valencia. Gaining most of its income from tourism and the export of fruit and vegetables, the city is popular with expats and holidaymakers alike, making it the perfect place to live, work and holiday.
With plenty of stunning beaches, including three that have been awarded Blue Flag status, Alicante is the perfect place to relax. One of the Blue Flag beaches, Saladar also offers three golf courses, a tennis club and a riding club for those who prefer to spend their time being more active!
The Port of Alicante is the busiest leisure area in the city and here you can enjoy a evening out at the port’s numerous restaurants and bars, but if it’s nightlife you’re after, head down to ‘la zona’ in the south of the city where you will find many cafes, pubs, bars and nightclubs.
During the day you can catch a boat from the port and head to Isla de Tabarca, which boasts a small, clean pebble beach and a seabed carpeted in underwater plants, the perfect place to go to escape the hustle and bustle of the city centre.
One of the main reasons why people go to Alicante is for its golf courses and with eight of them in the city; there are plenty to choose from. One of the most popular is Alicante Golf, which is open all year round and offers classes for adults and children.
Alicante is also well known in Europe for its annual carnival which takes place on the weekend and days leading up to Ash Wednesday, it includes a parade with extravagant costumes and fireworks. The famous Alicante theatre hosts two performing arts festivals, the Open Air Theatre Festival in September and the Contemporary Spanish Theatre Festival in November.
In the last 30 years, property investments in Spain have performed better than any other country in the world, proving that buying a home in Alicante would certainly be a worthwhile investment. Research shows that there will be strong increase in house prices within the next 20 years, this is supported by the fact that the average home price in Spain has increased by nearly 175% over the past nine years.
A combination of the wonderful weather all year round, glorious beaches, cheap flights to the city’s airport and excellent investment opportunities make Alicante a brilliant choice when it comes to buying a home abroad.
The beautiful coastal city of Alicante, on the South East of Spain, is fast becoming one of the most popular areas to have a holiday or second home. Situated on the Costa Blanca – meaning ‘the white coast’ due to its large salt lakes – Alicante is the second largest city in the Land of Valencia. Gaining most of its income from tourism and the export of fruit and vegetables, the city is popular with expats and holidaymakers alike, making it the perfect place to live, work and holiday.
With plenty of stunning beaches, including three that have been awarded Blue Flag status, Alicante is the perfect place to relax. One of the Blue Flag beaches, Saladar also offers three golf courses, a tennis club and a riding club for those who prefer to spend their time being more active!
The Port of Alicante is the busiest leisure area in the city and here you can enjoy a evening out at the port’s numerous restaurants and bars, but if it’s nightlife you’re after, head down to ‘la zona’ in the south of the city where you will find many cafes, pubs, bars and nightclubs.
During the day you can catch a boat from the port and head to Isla de Tabarca, which boasts a small, clean pebble beach and a seabed carpeted in underwater plants, the perfect place to go to escape the hustle and bustle of the city centre.
One of the main reasons why people go to Alicante is for its golf courses and with eight of them in the city; there are plenty to choose from. One of the most popular is Alicante Golf, which is open all year round and offers classes for adults and children.
Alicante is also well known in Europe for its annual carnival which takes place on the weekend and days leading up to Ash Wednesday, it includes a parade with extravagant costumes and fireworks. The famous Alicante theatre hosts two performing arts festivals, the Open Air Theatre Festival in September and the Contemporary Spanish Theatre Festival in November.
In the last 30 years, property investments in Spain have performed better than any other country in the world, proving that buying a home in Alicante would certainly be a worthwhile investment. Research shows that there will be strong increase in house prices within the next 20 years, this is supported by the fact that the average home price in Spain has increased by nearly 175% over the past nine years.
A combination of the wonderful weather all year round, glorious beaches, cheap flights to the city’s airport and excellent investment opportunities make Alicante a brilliant choice when it comes to buying a home abroad.
Tuesday, November 7, 2006
The Well Serviced UK Overseas Property Buyer
By Nicholas Marr
Overseas property buyers
Buying a home overseas in the sun or snow has its obvious attractions. Overseas property that increases in value while paying you an income is a dream come true for many property investors. The UK property investor is venturing away from the slowing and expensive markets of home and this trend is set to continue. A recent survey conducted by Homes Overseas magazine at it's Belfast exhibition found that 25% of participants were looking to buy property in Spain, 21% in Portugal, 16% in Croatia, Dubai and Florida, with 12% interested in buying homes in Cyprus and Turkey, 59% of people were looking to buy as an investment, 29% as a second home and 10% for retirement, with only 2% looking to relocate to their new home. Most people wanted to buy a home overseas for between £100,000 and £150,000.
Research research, research
The overseas property buyer researching the overseas property market has a host of sources to satisfy an insatiable appetite for information. Looking for a home to buy abroad has never been so interesting and the thrill of the chase can start using overseas property websites, overseas property magazines, overseas property television shows and exhibitions.
Overseas Property web sites
It’s a fact that the majority of overseas buyers will use the internet to find information and homes to buy abroad. The growth of the online overseas property web site is testimony to how vital the internet is in providing buyers with the information. Recent acquisitions by large newspaper groups of some of these web sites are also an indication that they view property web sites as an essential part of their portfolios in securing their share of the overseas property market. Collaboration with TV shows, exhibition organisers, magazines and travel companies is also an area that is set to expand. Simply imagine being an overseas property investor looking for a home abroad without the use of the internet and you can see why overseas property web sites can only get bigger.
Some of the most useful overseas property websites can be found at:
Homesgofast.com
Newskys.co.uk
The Move Channel
Propertyfinder.com
Fish4Homes
Property-abroad
Overseas property magazines
Overseas property magazines have always provided a relaxing and informative way to browse homes for sale and pick up some well researched advice. Some good examples are
A Place In the Sun magazine
Living Abroad
Homes Overseas magazine
UK Overseas television programmes
Overseas property shows are making the presenters household names and are a great way to see a location with your own eyes. All contain buying advice for the overseas buyers. They are great for introducing emerging markets and can be very influential for the indecisive overseas buyer. Programmes such as 'A Place in the Sun' conduct useful surveys advising on their top 20 destinations. Most locations that feature in the top 5 such as Cape Verde experience a surge of interest from investors.
Overseas property exhibitions
Overseas exhibitions provide an opportunity to meet developers and agents and attend seminars offering essential tax, legal and buying advice.
Some of the most popular UK property exhibitions are
Dubai Property ShowA Place in The SunViva La France ShowInternational Property ShowHome OverseasThe World of Property
Overseas property Associations
The UK overseas property associations aim to protect the consumer and to regulate the industry in the UK. All have codes of ethics that agents adhere to. Some of the most popular are:
Federation of Overseas Property Developers Agents and Consultants FOPDACThe Association of International Property ProfessionalsIpada – the International Property Agents & Dealers Association
The abundance of information at hand for buyers is enormous and the overseas property buyer can research more easily and more thoroughly than at any other time.
Nicholas Marr is clearly an observer of life and front row spectator of the events in the overseas property market. A lifetime property investor his UK based company Marr International owns one of the fastest growing overseas property websites in Europe at http://www.homesgofast.com
overseas property , house buyer
Overseas property buyers
Buying a home overseas in the sun or snow has its obvious attractions. Overseas property that increases in value while paying you an income is a dream come true for many property investors. The UK property investor is venturing away from the slowing and expensive markets of home and this trend is set to continue. A recent survey conducted by Homes Overseas magazine at it's Belfast exhibition found that 25% of participants were looking to buy property in Spain, 21% in Portugal, 16% in Croatia, Dubai and Florida, with 12% interested in buying homes in Cyprus and Turkey, 59% of people were looking to buy as an investment, 29% as a second home and 10% for retirement, with only 2% looking to relocate to their new home. Most people wanted to buy a home overseas for between £100,000 and £150,000.
Research research, research
The overseas property buyer researching the overseas property market has a host of sources to satisfy an insatiable appetite for information. Looking for a home to buy abroad has never been so interesting and the thrill of the chase can start using overseas property websites, overseas property magazines, overseas property television shows and exhibitions.
Overseas Property web sites
It’s a fact that the majority of overseas buyers will use the internet to find information and homes to buy abroad. The growth of the online overseas property web site is testimony to how vital the internet is in providing buyers with the information. Recent acquisitions by large newspaper groups of some of these web sites are also an indication that they view property web sites as an essential part of their portfolios in securing their share of the overseas property market. Collaboration with TV shows, exhibition organisers, magazines and travel companies is also an area that is set to expand. Simply imagine being an overseas property investor looking for a home abroad without the use of the internet and you can see why overseas property web sites can only get bigger.
Some of the most useful overseas property websites can be found at:
Homesgofast.com
Newskys.co.uk
The Move Channel
Propertyfinder.com
Fish4Homes
Property-abroad
Overseas property magazines
Overseas property magazines have always provided a relaxing and informative way to browse homes for sale and pick up some well researched advice. Some good examples are
A Place In the Sun magazine
Living Abroad
Homes Overseas magazine
UK Overseas television programmes
Overseas property shows are making the presenters household names and are a great way to see a location with your own eyes. All contain buying advice for the overseas buyers. They are great for introducing emerging markets and can be very influential for the indecisive overseas buyer. Programmes such as 'A Place in the Sun' conduct useful surveys advising on their top 20 destinations. Most locations that feature in the top 5 such as Cape Verde experience a surge of interest from investors.
Overseas property exhibitions
Overseas exhibitions provide an opportunity to meet developers and agents and attend seminars offering essential tax, legal and buying advice.
Some of the most popular UK property exhibitions are
Dubai Property ShowA Place in The SunViva La France ShowInternational Property ShowHome OverseasThe World of Property
Overseas property Associations
The UK overseas property associations aim to protect the consumer and to regulate the industry in the UK. All have codes of ethics that agents adhere to. Some of the most popular are:
Federation of Overseas Property Developers Agents and Consultants FOPDACThe Association of International Property ProfessionalsIpada – the International Property Agents & Dealers Association
The abundance of information at hand for buyers is enormous and the overseas property buyer can research more easily and more thoroughly than at any other time.
Nicholas Marr is clearly an observer of life and front row spectator of the events in the overseas property market. A lifetime property investor his UK based company Marr International owns one of the fastest growing overseas property websites in Europe at http://www.homesgofast.com
overseas property , house buyer
Monday, November 6, 2006
Travel real estate career - Useful Information About The Philippines
By Richard Romando
The Philippines, known as the Pearl of the Orient, is a 7,000-island archipelago located in Southeast Asia. It boasts several land and water wonders as well as shopping destinations. Apart from this, the country also has a rich cultural heritage that is shown in the ways of its people.
The islands of the Philippines are divided into three large groups named Luzon, Visayas and Mindanao. The archipelagic groups are further sub-divided into regions. The country's capital, Manila, is one of the busiest cities and is the second largest city, next to Quezon City.
Because the Philippines lies near the equator, its climate is described as hot and tropical. It goes through three major season changes ? the summer, rainy and cold seasons. Average yearly temperature is around 26 degrees Celsius.
The highest point of the country is Mount Apo that is located in Mindanao. It reaches a height of 9,690 feet. Other mountains of the country are covered in rainforests and are typically volcanic in origin. Among its active volcanoes are Mt. Mayon, Mt. Pinatubo and Mt. Taal.
The Philippines' population is relatively high and it has been ranked as the 12th most populous country in the world. As of 2005, the population reached more than 86 million. Two-thirds of this population can be found in Luzon. Meanwhile, literacy rate is 95.9 percent, and is one of the highest in Asia.
In terms of its economy, the Philippines is characterized as a developing country. Its businesses are largely agricultural in nature though other forms of services have already been developed. Economic downfall came during the Asian financial crisis in 1998, with the economic growth falling from 5 percent to a staggering 0.6 percent.
Today, major businesses lie in the call center and business process outsourcing industries. These businesses have generated thousands of jobs for the country. The companies that have chosen to invest in the country are mostly members of the Fortune 500 circle.
Philippines provides detailed information on Philippines, Philippines Tours, Language In The Philippines, Philippines Real Estate and more. Philippines is affiliated with Hong Kong Travel.
Sunday, November 5, 2006
Real Estate School
by Anne Peterson
With the economy where it is today, there is no better time than now to get involved with real estate. In order to sell real estate with a company, you'll need to have your license - which is where a real estate school can help you. As you may know, buying a home involves many different decisions about where you will live and for how many years. Along with geographical decisions, it will often have implication for your financial future as well.
For this very reason, almost all home buyers will enlist the services of a real estate broker or agent to help them make those types of decisions. A real estate agent is someone who is licensed by their state to handle the sales of real estate, while a real estate broker is also licensed by the state, but who has the overall responsibility for the actions of a real estate agent. To determine the value and fair market retail of a home that is for sale, a real estate agent may enlist the services of a real estate appraiser.
No matter what you state you happen to reside in, you can find a real estate school to help you obtain your license. Those of you who are time restrictions or don't like to travel too far from home, can get your license online. A real estate license doesn't require a lot of time, yet it will help you get your foot in the door when it comes to the vast world of real estate. Real estate agents, brokers, and appraisers make really good money, and generally get a commission on each house they successfully sell.
If you've been looking for a career that will give to you what you put into it, real estate is the career for you. Even if you have no experience with real estate, a real estate school can give you all of the training you need. Then, when the time comes to buy your own home, you can do it yourself. Knowing the real estate market and knowing what to look for can save you a ton of money when buying your own house or property.
About the AuthorThe author's website is Brandon Routh. Any or all parts of this article may be reprinted in any form, as long as there is a link to the website.
real estate school , real estate career ,
With the economy where it is today, there is no better time than now to get involved with real estate. In order to sell real estate with a company, you'll need to have your license - which is where a real estate school can help you. As you may know, buying a home involves many different decisions about where you will live and for how many years. Along with geographical decisions, it will often have implication for your financial future as well.
For this very reason, almost all home buyers will enlist the services of a real estate broker or agent to help them make those types of decisions. A real estate agent is someone who is licensed by their state to handle the sales of real estate, while a real estate broker is also licensed by the state, but who has the overall responsibility for the actions of a real estate agent. To determine the value and fair market retail of a home that is for sale, a real estate agent may enlist the services of a real estate appraiser.
No matter what you state you happen to reside in, you can find a real estate school to help you obtain your license. Those of you who are time restrictions or don't like to travel too far from home, can get your license online. A real estate license doesn't require a lot of time, yet it will help you get your foot in the door when it comes to the vast world of real estate. Real estate agents, brokers, and appraisers make really good money, and generally get a commission on each house they successfully sell.
If you've been looking for a career that will give to you what you put into it, real estate is the career for you. Even if you have no experience with real estate, a real estate school can give you all of the training you need. Then, when the time comes to buy your own home, you can do it yourself. Knowing the real estate market and knowing what to look for can save you a ton of money when buying your own house or property.
About the AuthorThe author's website is Brandon Routh. Any or all parts of this article may be reprinted in any form, as long as there is a link to the website.
real estate school , real estate career ,
Friday, November 3, 2006
Travel real estate - Guide to Buying a Property in Malta
By Les Calvert
Overview
There are some restrictions on what types of real estate a foreign national can own in Malta. Generally speaking, a foreign national is able to buy one piece of residential property that will be used as that person's primary residence or that will be used by that person as a holiday residence during part of the year.
With this in mind, an individual foreign national is not able as a general rule to buy commercial or industrial real estate in Malta. There are some instances in which a foreign national will join with citizens of Malta to form a joint legal venture -- usually in the form of a limited liability company -- to by non-residential real estate. It is important to keep in mind that this type of arrangement does require approval from different governmental agencies in Malta.
Even for EU member state nationals (Malta is now a part of the European Union) the ability to own real estate in the country is limited at this point in time. There is some natural and necessary movement to relax different real estate laws in regard to foreign nationals in the future to bring Malta more inline with the open market concept that is the centerpiece of EU membership.
Investment Property in Malta
As has been set forth previously, there are some pretty stark limitations on what type of real estate a foreign national can purchase in Malta. With this in mind, the opportunities for investment in real estate -- beyond the ownership of a primary residence or a holiday home -- by a foreign national are limited.
Again, and as was discussed, there are some instances in which a foreign national will join together with citizens of Malta, to develop a legal entity that will take possession of real estate in that country for investment purposes. Even with this noted, the number of foreign nationals who are involved in such a venture is not significant due to the hurdles that must be surmounted in order to win governmental approval and authorization to purchase real estate beyond a residence.
There may be some relaxation in the laws governing investing in real estate by foreign nationals who are from European Union nations in the future. Of course, the concept behind the EU is to allow for a free economic flow between member nations. Thus, with Malta now a part of the EU, it is likely that there will be changes in its real estate laws as they same pertain to investment in different types of real estate in the country by citizens from other European Union nations.
Residential Property in Malta
Generally speaking, it is only residential real estate that can be purchased at this time by foreign nationals in Malta. Although Malta has joined the European Union, where there can be found a broader ability of foreign nationals who are from EU member countries to by real estate within the EU, this barrier has not been fully surmounted in Malta.
The primary reason that there is a heavier restriction on foreign investment in real estate arises from the fact that there is, indeed, only a limited amount of real property available to sale within the borders of that country. Unlike many other nations, that still have undeveloped frontiers and a significant amount of space still available for development, such is not the case with Malta.
A foreign national, with relative ease, can make the purchase of one piece of residential real estate -- either to be used as a private and personal residence or as a holiday home. This will be discussed in greater detail shortly.
Many Europeans have purchased larger homes in Malta that have become favored second residences, holiday homes. A foreign national can stay within Malta for a period of up to three months at a stretch with no tax consequences or special filing requirements. A foreign national can spend between three to six months in consecutive succession in Malta with permission of the government. Generally, there will be no additional tax consequences on a foreign national in Malta until that person remains in country for a period beyond six months .
Residential Real Estate - Apartments in Malta
Upscale apartments remain attractive choices for foreign nationals looking to purchase real estate in Malta. As will be discussed shortly, a foreign national can make the purchase of residential real estate in Malta provided the property is valued at $50,000 MLT (the Maltese national currency) as is to be used only as private primary residence or as a holiday home by the purchaser.
These apartments -- high end apartments -- are in significant demand by foreign nationals at this point in time. These people, who enjoy spending part of the year in Malta (with its idyllic climate and easy lifestyle) are attracted to these apartments .
Holiday Property in Maltese Holiday Resorts
With its nearly perfect climate the entire year around, Malta has long been a favored travel destination for men and women from different countries around the world. The trend has continued unabated into the present day and age.
As a consequence, there is a growing number of foreign nationals who are interested in finding real estate to purchase in that country for holiday or vacation purposes. Indeed, as will be discussed shortly, there are general limitations on the ability of a foreign national to purchase real estate in Malta, generally restricting these men and women to being able to purchase one piece of residential property that can be used as a holiday home or as a permanent residence .
Specific Steps to Buying a Property in Malta
Despite the fact that the real estate purchase process
in Malta is a relatively easy process, there are some definite restrictions that apply to foreign nationals who are interested in purchasing real estate in Malta.
Generally speaking, a foreign national can purchase a residence in Malta that is going to be used either as a holiday home or a that purchaser's primary residence into the future. In addition to this general restriction, there are some more specific requirements when it comes to a foreign national investing in real estate in Malta. First of all, the value of the real estate that is being purchased must not be less than 50,000 MLT (the national currency in Malta). Second, all of the funds that are used to purchase this real estate must be derived from outside of the country. Third, the real estate that is purchased cannot be rented out to anyone else. This includes property that is purchased for occupancy as a holiday home during only part of the year. Unlike in many other countries around the world, a foreign national buying such a residence in Malta cannot lease out the property to someone else when it is not in use by the purchaser and owner. There is one interesting exception to this prohibition. The owner of a residence with a pool can, in fact, lease or rent out the property to someone else when he or she is not utilizing the property for his or her personal benefit.
Finally, on resale, a foreign national can repatriate the funds generated from the sale to his or her own country of origin.
Once these restrictions are appreciated and understood, the actual process of buying and selling real estate in Latvia is simple. The initial phase involves the execution of a contract for sale. At this time, the buyer is obliged to post a deposit that normally is in the amount of 10% of the overall purchase price of the real estate.
The preliminary agreement normally is valid for a period of three months. During this time period, the purchaser will obtain financing and the seller will make sure that there are no defects associated with the title that will prevent a clear conveyance of the property to the purchaser when the sale is concluded.
The final contract ultimately is entered into between the parties. It is at this time that the buyer pays the remaining balance due and owing on the property.
Additionally, it is at this juncture that the buyer will take physical possession of the real estate.
There is some effort in Malta at the present time to relax at least to some degree (and most likely for residents of other EU member nations) the real estate laws in that country. Most of the proposals that are being considered center on allowing foreign nationals a bit broader usage with their residential property. For example, there are proposed laws being considered that would allow a person who owns a holiday home or residence in Malta the ability to rent or lease that property to someone else during those times of the year when the owner is not personally utilizing the real estate in question. Again, any such changes more than likely will be targeted towards citizens from EU member nations
Property Abroad always recommends using a Solicitor or Lawyer.
Director Les Calvert features over 45,000 properties for sale on his 300+ company websites dealing with property for sale abroad. Visit their site for more detailed information on the overseas property market http://www.property-abroad.com/malta and buying property in Malta.
Wednesday, November 1, 2006
How to Buy Real Estate in Mexico
By Rosana Hart
It's fun to dream about having a getaway place in Mexico, be it a charming condo by the ocean, a little cabin somewhere, or whatever... It's even more fun to do it!
In recent years it has become easier for foreigners to own real estate in Mexico, including Mexican beachfront property. See below for more about how this works... property near the ocean is handled in a different way from other types. But it's great that we can do it now!
Buying real estate in Mexico is different from the process at home in some ways, so do work with an attorney who knows the ropes and speaks good English.
Some Tips on Buying Mexican Houses, Land, etc.
Mexican real estate is typically paid for with cash or by check. Mortgages are quite rare.
Due partly to the rarity of mortgages, a house may be for sale for quite a while. This could be to your advantage when buying, and less so if you decided to sell.
Mexican title insurance for real estate is much less common than in the US, but you really should arrange to get it.
There's one kind of land to be wary of -- ejido land. Ejidos were land held in common in the past, and the titles can be murky.
If you are exploring the real estate -- be it homes, land, condos, or whatever -- in a particular area of a Mexican city or state, ask local people what is for sale. You may have a lot of choices that are not listed with real estate offices and don't even have signs out front. You can find treasures this way, even if your Spanish is pretty basic!
Prices may be higher if the seller knows that a foreigner is interested. So you may pay more than a local, but do feel free to bargain. It's expected!
Property measurements are often in square meters. To give you an idea, 1 acre equals 4046.86 square meters. One square meter equals 10.7639 square feet.
Buying Mexican real estate near the ocean
As individuals, foreigners can't own property within about 30 miles of the shoreline or about 60 miles of the border. But there are two ways that you can legally own Mexican real estate within these regions. Experts say that both methods are secure, when set up properly.
[1] A bank trust is commonly used for residential real estate, and that's called a fideicomiso in Spanish. The bank "owns" the property but you as trustee have total control of the real estate, for building, selling, putting it in your will and avoiding inheritance taxes, etc. You can list more than one trustee, for example, yourself and your spouse or yourself and a friend.
Bank trusts are good for 50 years and are renewable. Setup fees run somewhere around $500 for this arrangement, and annual fees are about the same. There are regulations on how large the land can be.
[2] You can form a Mexican corporation, but none of the owners can be Mexican. If the land will be used commercially, this is the way to go. Costs to set up this corporation are several times higher than for a bank trust. Mexican corporate tax reports have to be filed, which you would have a Mexican accountant do for you.
So if you dream of having a home in Mexico, do your homework and go for it! Thousands of foreigners have done it, and many of them are living in their homes right now. You can join them!
Rosana Hart has traveled to Mexico many times. Her website, www.mexico-with-heart.com, contains the full text of a book she wrote about traveling in Mexico, as well as information, travel tips, and real estate tips on a variety of Mexican cities.
It's fun to dream about having a getaway place in Mexico, be it a charming condo by the ocean, a little cabin somewhere, or whatever... It's even more fun to do it!
In recent years it has become easier for foreigners to own real estate in Mexico, including Mexican beachfront property. See below for more about how this works... property near the ocean is handled in a different way from other types. But it's great that we can do it now!
Buying real estate in Mexico is different from the process at home in some ways, so do work with an attorney who knows the ropes and speaks good English.
Some Tips on Buying Mexican Houses, Land, etc.
Mexican real estate is typically paid for with cash or by check. Mortgages are quite rare.
Due partly to the rarity of mortgages, a house may be for sale for quite a while. This could be to your advantage when buying, and less so if you decided to sell.
Mexican title insurance for real estate is much less common than in the US, but you really should arrange to get it.
There's one kind of land to be wary of -- ejido land. Ejidos were land held in common in the past, and the titles can be murky.
If you are exploring the real estate -- be it homes, land, condos, or whatever -- in a particular area of a Mexican city or state, ask local people what is for sale. You may have a lot of choices that are not listed with real estate offices and don't even have signs out front. You can find treasures this way, even if your Spanish is pretty basic!
Prices may be higher if the seller knows that a foreigner is interested. So you may pay more than a local, but do feel free to bargain. It's expected!
Property measurements are often in square meters. To give you an idea, 1 acre equals 4046.86 square meters. One square meter equals 10.7639 square feet.
Buying Mexican real estate near the ocean
As individuals, foreigners can't own property within about 30 miles of the shoreline or about 60 miles of the border. But there are two ways that you can legally own Mexican real estate within these regions. Experts say that both methods are secure, when set up properly.
[1] A bank trust is commonly used for residential real estate, and that's called a fideicomiso in Spanish. The bank "owns" the property but you as trustee have total control of the real estate, for building, selling, putting it in your will and avoiding inheritance taxes, etc. You can list more than one trustee, for example, yourself and your spouse or yourself and a friend.
Bank trusts are good for 50 years and are renewable. Setup fees run somewhere around $500 for this arrangement, and annual fees are about the same. There are regulations on how large the land can be.
[2] You can form a Mexican corporation, but none of the owners can be Mexican. If the land will be used commercially, this is the way to go. Costs to set up this corporation are several times higher than for a bank trust. Mexican corporate tax reports have to be filed, which you would have a Mexican accountant do for you.
So if you dream of having a home in Mexico, do your homework and go for it! Thousands of foreigners have done it, and many of them are living in their homes right now. You can join them!
Rosana Hart has traveled to Mexico many times. Her website, www.mexico-with-heart.com, contains the full text of a book she wrote about traveling in Mexico, as well as information, travel tips, and real estate tips on a variety of Mexican cities.
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