People from developed countries are more and more frequently opting to retire in a developing country. Germans, for example, love to retire in Turkey or Paraguay. The costs are lower and the weather so much better than Europe. Most of the time these future expats would visit the country of their choice before the time to look at real estate. This is when they are at their most vulnerable and should without doubt contact one of the local property agents for expats.
One of the very first reasons for using such an estate agent that comes to mind is the language barrier. If you are only able to speak English or German and you wish to retire in a Spanish speaking country, you absolutely need somebody at your side that are able to speak both your language and Spanish. The majority of estate agents operating in the expat market can do exactly that. They are therefore able to act as interpreters in your new home country as well.
The property agents are also better informed about local conditions than you as the expat can ever hope to be. If you arrive in a foreign city like Asuncion, you have no idea which parts of town are sought after and which parts are crime-ridden and should be stayed away from. An estate agent that can speak your language is a great source of information in such a situation and can protect you against costly mistakes.
Once you find a property which you and your family like, you need to find out if the asking price is realistic or whether it has been loaded with a special ‘foreigner levy’. We have all heard frightening stories about foreigners paying double the market value of a property simply because they chose to do everything on their own. If you have an honest property agent assisting you, he will warn you about asking prices that are too high.
Foreign countries sometimes have strange laws when it comes to real estate. As a foreigner you might not enjoy any legal protection if you are ripped off by a local ‘entrepreneur’. It might even happen that you end up without your money and without a property to live in either. If you had a property agent at your side with your interests at heart, he would have warned you against any potential scams.
As a foreigner you will also not be aware of planned developments that might have a negative effect on the price of the property you want to buy. The quiet little suburb that you fancy so much might soon be cut in two by a major highway.
If you had made use of one of the good property agents for expats in that city, chances are that he would have warned you about this.
For more information and resources about Apartment Rental for Expats in Singapore, make sure you visit SingaporeExpatPropertyExperts.com.sg!