A combination of cheap mortgages and plunging prices have triggered and are still triggering investments in foreign property. 5.4 million Britons consider buying a property abroad. But buying foreign property is not easy. Many of the British folks who bought Spanish properties before the financial crisis now contend with legal battles, touting to pull their foreign property down and that dream of foreign property ownership with it. Many of those who rushed into foreign property investing have sad stories to tell. The most important advice when making an international property investment is still to take your time, do careful research and get legal advice.

Buying property abroad, where currency value favors you is a lucrative arrangement. Currently, the Pound leads the Euro by 10%, so British property buyers looking to buy in Italy, Spain, Portugal etc. would have to pay 10% less on comparable properties. It might not be worth it if you consider travel costs and other expenses. Hence, apart from knowing legal and property rules in your destination country, you should also consider how much you're going to spend and if the expenses would justify itself.

Moreover, there could be scrupulous characters you have to deal with. In property buying, you have to let your head make the decisions. More so, when buying abroad. Let's explore the five common mistakes international property investors make and how they can be avoided.

MISTAKES INVESTORS MAKE WHEN MAKING INTERNATIONAL PROPERTY INVESTMENT

1.      Lack of information.

You can easily get burned when you are not aware of the nuances and trends of your chosen real estate market. It's not just enough to research and find out the particulars of making an investment in a specific country, be aware of the mistakes specific to foreign property investors in that country. If the eager Brits of the pre-recession had been well-informed, they wouldn't have fallen into legal traps.

2.      Planning on the move.

Don't buy a house, then put together a plan later. Have a plan before you buy. This is all the more important for investors. It is the most common mistake made by newbie investors. You might spot a good deal and be prompted to make an offer quick. Don't. Make sure you form a plan beforehand and get a property that fits your investment strategy. This will keep you focused.

3.      Trying to make money quickly. Real estate, unlike stocks, is usually a long term investment. If you think you'll make a load of profit on your property within a short time, you might be setting yourself up to be disappointed.

4.      Flying solo. Professional investors always have a team. The team usually comprises of real estate agent, an appraiser, an attorney and a lender. If you want to achieve success in overseas real estate investing, don't fly solo.

5.      Paying too much. Flying solo and inadequate research most times will lead to paying too much on a property. New investors abroad usually goof up by paying too much on the properties they buy. Making this mistake will leave you working with less if you plan on buying for investment.

As much as it is lucrative, buying a home abroad is risk bound. It is always important to exercise caution when making an overseas investment deal and learn the fundamentals.

Depending on your home's value, your market and comps in your neighborhood, you could consider making renovations in your home before listing. In a place like New York, however, where houses are being snapped up fast and prices are over the roof, renovating your house for sale might be a crazy idea. But in suburbs with high inventory, your house needs to measure up.

When selling, you wouldn't be looking through the same eyeglasses as a new homeowner. Your calculations and priorities will be much different. The most important thing when you have to consider value is return on investment. What renovations will make my house sell fast and at the same time give good return on investment? Before you embark on gutting your circa 1990 kitchen, the first thing you might need to do is consult an experienced realtor who knows what works best in your particular neighborhood.

You might find out that minor cosmetic upgrades will get more buyers through the door. And yea, the door is important. Instead of spending money on pricey renovations like adding a deck or basement revamp, Remodeling magazine’s 2015 Cost vs. Value Report says that replacing your existing front door with a new steel door will net you a 101.8% ROI for a minimal replacement cost of $1,230. Knowing which areas to spend on will help save you a lot of money when making renovations. Let's look at five low-cost ways to increase your home's value.

        Inexpensive Home Improvement Tips to Improve Your Home’s Value

1. Consider curb appeal. Nothing says 'welcome to this lovely house' to a prospective buyer as a nicely mowed lawn, a few shrubs here and there and a well-swept walkway. The first impression buyers have as they drive to your home is truly important. So, it's necessary you set the stage right. Hiring a good landscaper will be worth the money. Not only will your home appeal to prospective buyers, your neighbor would also love the effort.

2. Have a cohesive kitchen. Kitchen plays a big role in home improvement. Many Realtors call it the heart of the home. Indeed it is; since an average American homeowner spends at least 37 minutes daily in the kitchen. Sprucing up your kitchen demands that you create the impression of a clean and updated kitchen. One way to achieve this impression is creating cohesiveness, especially with color. Mix and match kitchens are not the best. If your kitchen appliances don't match, consider ordering new doors, e.g new cabinet doors or face panels for them.

3. Work on your bathroom. Next to the kitchen, bathrooms are important to potential home buyers. You can make a difference in your bathroom at a low cost by adding new toilet seat and a pedestal sink. These are also pretty easy for homeowners to install on their own. One thing you may not be able to do on your own but which will add value to your bathroom is replacing an old, discolored, bathroom floor with vinyl tiles. Bright, energy efficient lighting will also improve your bathroom's appeal.

4. Update closets. Cramped storage spaces are not attractive to potential buyers. You can step up your storage by adding a do-it-yourself wire and laminate system to bedrooms and pantries.

5. Check the mechanics. Having a minor inspection and working on existing faults in your home like faulty outlets, loose wires and water leaks give the impression that someone has really taken care of the home.

The kitchen is the heart of the home. There will never be a day in your life when you don't enter the kitchen for some reason. It is where groceries go in and delicious pizzas and finger licking butter chicken comes out. The kitchen is where the children first learn to be of some service. It's also where you hone your cooking skills by trying new recipes.

The design of the modern kitchen has created an evolution in function that has made the kitchen a place of entertainment. An open kitchen is a place for socializing and hanging out with friends and families. This helps families spend more time together. You can keep an eye on your daughter while you cook. Your spouse can perch herself on the counter and regale you with tales from her workplace, you can share a bottle of wine with your friends as you cook.

Being such an important part of the home, it's important that home sellers make the kitchen attractive to prospective buyers. Here are some home staging tips to make your kitchen spark more attention from prospective buyers.

You want to make your kitchen radiate a fresh 'feel'. Buyers should want to stay a while longer in your kitchen. Although the process of staging your kitchen may warrant a few inconveniences, it's usually worth it because an attractive kitchen will sell your home faster than any other thing you do to prepare your home.

1. Make it sparkling clean. Obviously, buyers won't be able to imagine themselves in your home if your home has a dirty kitchen. The neater your kitchen looks, the better. From kitchen windows, to rugs, to stoves and dishes, make sure that everything shines. Hiring a professional cleaning company might be worth the cost.

2. Apply fresh paint. A quick and easy way to make your kitchen appear fresh is putting fresh paint on walls. Let the colors used complement colors of cabinets and drawers to bring out cohesiveness.

3. Use energy efficient lighting. Another relatively inexpensive tweak to make your kitchen feel fresh and new is updating lighting with energy efficient and bright ones.

4. Update kitchen hardware. Buyers love a kitchen with updated fixtures. Don't leave your kitchen with old kitchen faucets and outdated lighting fixtures. Inexpensive, simple updates like garbage disposal, stainless steel appliances, faucets and cabinet hardware can make your kitchen appear new and attractive to prospective buyers. You can also go a step further by adding some pizazz to your countertops. You can put in decorative canisters, herbs, bowl of fruit, new cookbooks and new tea towels, etc.

5. Declutter. Decluttering may be the hardest part of staging a kitchen for sale. Your kitchen should no longer reflect you, but it should give potential buyers a chance to use their imagination. The easiest way to start the process of decluttering is to completely clear off your counters, then only put selected decorative items to fill in and soften the corners of a long expanse of countertop.

An ugly kitchen can make the home sit on the market for long. Staging your kitchen right might require some effort and inconvenience but if the property is priced right and looks fantastic, you should only have to be inconvenienced a very short time.