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A Guide to Buying Overseas Property

Tips on Buying your dream property abroad.

 

The motivations for buying overseas property can vary considerably, although one common reason is that it could seem undervalued and therefore likely to appreciate in future. For example, if your local currency is particularly strong relative to that of a foreign country, the cost of buying overseas property can seem especially inexpensive, and could present a lucrative real estate investment opportunity over the long term.

Managing exchange rates and risk is an important factor in all overseas property purchases

Foreign transfers related to overseas property purchases are typically for larger amounts at a fixed settlement date in the future. Therefore you need to be aware that any currency movements of just a few percent can have a large cost to you when you come to settle.

When transferring funds denominated in your domestic currency to either make a payment in full, a down payment, or a series of smaller mortgage payments, you will probably want to find a better foreign exchange solution than simply using your regular bank.

Saving Money on Mortgage Payments When Buying Overseas Property

Typically banks provide poor forex services, which often involve very wide dealing spreads and limited transaction sizes. Fortunately, you can usually do much better by transferring your money through one of our partner providers in our comparison tables.

You should consider using one of our BER partners specialising in foreign payments who can advise you on Forward Exchange Contracts that allow you to lock in a rate for some or all of your transfer. A forward foreign exchange rate is the exchange rate at which one currency can be exchanged for another currency for settlement on a predetermined future date (maturity date).

Tips on Buying your dream property abroad

  • Tip #1: Investigate the Market Thoroughly
  • Tip #2: Obtain Professional Purchase Assistance
  • Tip #3: Hire a Legal Representative
  • Tip #4: Have Key Documents Translated
  • Tip #5: Saving Money on Mortgage Payments

You can read the details here in our Article: Top Five Tips for Buying Property Overseas.

 

Further Reading

 

TransferWise Borderless Account – BER Review

TransferWise’s Borderless Account allows users to hold and convert funds in 40 different currencies, and send and spend internationally, all at the “real” exchange rate and with the low fees that TransferWise is renowned for. Users can also receive major-currency payments free of charge.

Updated: 20 Mar, 2019

Order Online for Cheap Currency Exchange Deals in USA

We show you how to Pre-order foreign cash online for better currency exchange rates and save money for your next trip.

Updated: 28 Feb, 2019

Foreign Xchange Travel Money – BER Review

Foreign Xchange offer the best travel money exchange rates when you order online for home delivery (5-days). Order multiple different currencies with one simple checkout process. Check rates and place your order from the comfort of your own home. Currencies are delivered to your doorstep to save you time.

Updated: 13 Mar, 2019

Best Travel Money Exchange Rates in the Sydney CBD – BER Guide

In this article we show you how to save money if you find yourself looking for Foreign Cash in the Sydney CBD.

Updated: 19 Mar, 2019

OFX Money Transfers – BER Review

BER reviews OFX – their exchange rates, service and ease of use and user reviews.

Updated: 8 Mar, 2019

  

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