This article explores seven basic reasons why people nurture the dream of owning foreign property

The ebbs and flows of foreign property rules in many countries have caused an influx of foreign buyers into their real estate markets. The current trend is that many countries are more accepting of foreign property buyers, unlike before. In some countries, like Australia, it is becoming a malaise, where the overpowering of foreign currency is causing an affordability crisis for residents. Hopefully, this would balance out soon. But, the fact still remains that more people are drawn to global property. In many cases, when countries have modified their laws to be more accommodating to foreign buyers, there have been real estate boom. The historical constitutional change of Thailand's foreign property laws in 1979 brought an influx of foreign investors and few months later, Thailand began experiencing its first real estate boom.

Motivations For Buying Property Abroad

It's not just about wanting to fulfill the lust for adventure. Recently, there have been an increased number of British buying foreign properties. Many of them buy for many reasons, let's just examine three:

·         Cost. Will you buy a house in Britain if you can buy two houses for the same price in Brazil? The principal motivation is pricing. The appeal of buying property abroad lies in the fact that you can buy a home conveniently and still have enough money left to have a whale of a time in your chosen country. For most people, cost is the strong motivation for buying overseas.

·         Possibility of an investment. Some property investment hotspots abroad are experiencing influx of foreign buyers. While these areas may not be the first choice for people who want to slash price in half; it is a catch for those who are seeking investment opportunities.

·         Second home. A personal reason for buying property abroad is to own a vacation property. For many affluent individuals, having a place, maybe a seaside location in Turkey to retire from the hustle and bustle, is important. With lower cost of living and interesting destinations, expats can live the good life abroad. These vacation properties also offer sound return on investment.

Benefits Of Buying Property Abroad

Broadly speaking, let's take a quick look at the 7 benefits of buying property abroad:

1.      Diversify your portfolio.

Buying property abroad is a great way to diversify your portfolio. Having all your investments, stocks and all, in your country of Birth, is like putting your eggs in one basket. Also, you can invest in a hard asset, real estate, which is proven to be more reliable than stocks.

2.      Diversify currency. Having all your investments denominated, in your local currency, is also 'putting your eggs in one basket'. You don't want to be at the mercy of the local economy.

3.      Reinvent your life. Apart from building your net worth, owning a home abroad is a way to gain a rich cultural diversity and more momentum, especially during retirement.

4.      Own a second home.  Instead of spending your life savings on a second home, buying a second home abroad can be 5 times cheaper. There could also be a chance to make good vacation rental income as your vacation home increases in value.

5.      Retire overseas. You can take advantage of the low cost of living abroad to enjoy your retirement.

6.      Tax deductible travel. In the US, the cost of traveling to manage your overseas property is tax-deductible.

7.      Earn income. A rental income overseas will generate an income that is not determined by your citizenship country's economy. For instance, rental returns in Medellin, Colombia can be up to 10% and the cost of property ownership there is low.

Buying property abroad is a smart move. But, anybody who wants to take the plunge must be ready to put in work. Don't just expect to sit and wait for your property to grow in value. An investment in real estate requires active and ongoing management.

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.

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Moving broad for work or fun is both exciting and frightening, here are some things you should know

An ancient quote says, 'those who travel across the seas only change their skies, but not their souls", nowadays the opposite is true. Studies show that people who live abroad find it easier to engage with other cultures. Moving abroad gives you more perspective on life. But it's not easy to take the first step. The thought of leaving your family and friends can be distressing coupled with the fact that you may not know anybody in the new country. However, it's an opportunity to leave your comfort zone and explore different cultures and issues you haven't seen before.

But there are challenges you'll encounter. Paperwork can be exhausting; The stress of trying to blend into a new environment, especially when you're not fluent in their language; The guilt that comes with leaving your family and friends, which they may not initially understand. But facts prove that the distance could actually strengthen your relationship. So if you're tired of the same old routine and want some more adventure in your life, you'll find that you can master the skill of dealing with the challenges that come with living in a foreign city. Whether you're a millennial moving to another country for work or a retiree just seeking adventure, these tips will help make the move as painless as possible.

Tips For Moving Abroad

1. Make some research. You already know this is important. It's a no-brainer. Know a bit about the political climate of the country, the economic climate, geography and important public figures. Also learn something of the culture, history and staple foods.

2. You don't really need much stuff. Unless you're running away from your home country, never to return, you'll find that excess luggage is just what it's called; excess luggage. It's a given that there will be stores and large shopping outlets in the country you're moving to. Also leaving back the excess stuff might be a way to dispose of materialism and reprioritize what's important in your life. However, never forget to take the important stuff. Don't forget to take your favorite 'Abercrombie' shirt or else your mind might not leave home.

3. Don't expect to settle in at once. It might take at least three months before you fully integrate with the culture of a particular place. You might find it hard to make friends during this time. So, don't rush and don't feel like you've to immerse completely while trying to socialize but stretching your limits of comfortability. During this time, you can observe. Also, maybe, get some interesting 'alone' activities to keep it fun.

4. Experience new things. Travelling abroad and not trying new foods, people and customs is like going to school and not learning anything. Don't be afraid to experience new things. Also, don't limit yourself to the big cities. If you travel to Spain, don't spend all your time in Madrid. Check out the smaller town, you'll learn and experience much more.

5. Make local friends. As a new property investor abroad, your local friends will be able to assist you a lot. They'll give you practical information and might even put in some legwork for you. Generally, you're not moving abroad to hang out with fellas from your home country. Therefore, mingle with the locals.