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Buying Property In Eastern Europe

Choosing The Right Home For You

Author Leaonne Hall is an expert on the overseas property market and has written extensively for a number of newsstand titles. She previously produced three editions of the Red Guide to Buying Property in Eastern Europe, and has been writing in detail on the individual markets since 2003.

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CHOOSING THE RIGHT HOME FOR YOU

When looking to buy a home, in order to help you narrow down your search, you need to decide on your usage – what will you be using your property for? There is a such a broad range of landscapes, locations and property types to choose from and so being clear on what you want will make the search a lot quicker and easier, saving you time and money in the long run.

Ask yourself some serious questions such as: Do you want to be near a beach? Do you want to have neighbours or would you rather live in an isolated area? Are you looking to let your home and if so, do you want to buy within half an hour’s drive of the airport, which will ultimately be more expensive. Are you buying a holiday home or purchasing as an investment? Are you going to be relocating or retiring to your property? If so, you need to consider proximity to schools and hospitals.

Finally, how much are you prepared to risk when purchasing? Are you happy to look at immature markets which may carry some risk, but potentially more gain in the long run, or are you after a more established market?

Issues to consider

Where?

  • Do you want to live in the city or countryside?
  • Do you want to be inland, near the coast, or close to the mountains?
  • Is your wish to live in an isolated community or do you want to have neighbours?
  • Is good weather important to you or are you happy to endure cold, snowy winters?
  • How far are you prepared to be from the UK/home/family/friends?

Why?

  • Why do you want a second home? Are you going to be using it for weekend breaks/months away/holidays, or are you looking to relocate?
  • Do you want to make money from your home?
  • Do you eventually intend to retire there?
  • If you intend to sell the property on later, are other properties in the area selling well?

Travel

  • Are the cost of flights expensive? If you intend to rent the property, make sure you buy close to an airport that offers budget flights.
  • Are you happy to go to the same place every year?
  • Is accessibility an issue? If you intend to retire there, will it remain just as easy to access when you are older?

Amenities

  • Do you want public transport, shops, restaurants, etc. on your doorstep, or are you happy to travel to reach them?
  • Do you have hobbies/sports you want to pursue?
  • What entertainment could you enjoy in the area?

Health

  • Does anyone in the family have long-term health concerns – e.g. diabetes – or heart problems that will need to be regularly monitored?
  • How good is the health service?
  • How near will you be to the doctor/dentist/hospital?

Practicalities

  • Is it important to be able to speak the language? If so, are you prepared to learn?
  • Do you want to take your pet? If the Eastern European country of your choice is now part of the EU, you only need a pet passport. If not, then you need to consider that they will have to spend time in quarantine.
  • Do you know your neighbours and what they are like?
  • Are there expats in the area? If not, are you prepared to integrate yourself into local life?

Type

  • Who will be staying/living in the property? Will it just be yourself and your partner or are you likely to have family and friends round? If so, you will need to ensure there is space/spare rooms.
  • Will you need to modernise the property? If so, have you budgeted for renovation costs?
  • Do you want a property with character or something new and pristine with all mod cons?
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