Sunny climates and a more relaxed lifestyle are just two of the reasons why a growing number of Britons are considering investing in a second home overseas. Figures released by banking group HSBC reveal that in 2014 5.4 million Britons took the plunge but if you’re thinking of joining them then there are a few things to consider first.
Houses in France and Spain are popular
A recent report published on the authoritative this is Money website shows that, thanks to the declining value of the Euro against sterling (in June the value was at 1.37 euros to the pound), overseas house prices are very attractive to British home buyers.
Many of those buyers will be looking at effective ways of sending money online from the UK to their new country of residence.
Key points for buying property overseas
The first thing that anyone should do, if you are considering a move overseas is to draw up a budget plan. Take into account the necessity of transferral of funds at some point in the process; you should be looking at notaries’ fees, local taxes and surveyor’s costs as well as the actual price of the house.
Read the news too. For example, France is considering hiking up its capital gains tax by 20% and is targeting those with second homes in that country. This type of governmental decision will affect your choice of destination but effective transfer of funds can cut down on banking delays and additional banking charges.
Work anywhere in the world, make use of money transfer online
Despite the uncertainties raised by the forthcoming European referendum many UK citizens still enjoy the flexibility of working and living abroad. Most of those workers are often paid in dollars or sterling rather than in a local currency. This means that an effective money transfer online can make life a lot easier for global working practices.
All you need is internet access and you can receive payment in any part of the globe. Just inform employers of the methods of sending money online and you can enjoy your regular income.
A money transfer online is vital for pension and other investment payments
Once you’ve bought your property you will need an income in order to pay for healthcare and taxes as well as maintaining your new dream home. You’ll also need to take into account that although food and clothing costs may be a lot lower in some countries, petrol may be more expensive.
Your UK pension and income providers need to be aware of the benefits of sending money online to you. As long as you plan your move and are aware of the pitfalls, there’s no reason why you shouldn’t reap the benefits of cheaper house prices, better climate and a fantastic quality of life anywhere in the world.