Many countries around the world are looking to build their economy and bring in foreign real estate buyers. Often, there are many incentives for buyers such as a year without maintenance fees, lower interest rates, or higher mortgage financing.
Access to a Mortgage
Canada has become one of the hardest places to purchase property. Many buyers are held at a qualifying rate that makes it almost impossible for some to enter the real estate market. Overseas this is not always the case. There are often better mortgage options which include lower interest rates or less down payment required which opens more doors for buyers.
Cheaper Sales Prices
When searching in the overseas markets, you can find many pockets that are drastically cheaper than the Canadian market. The houses and condos can sometimes be up to 30% cheaper abroad than in the Canadian market, leaving you with much more purchase power or a much larger saving.
The world is your oyster. When purchasing internationally you have no boundaries. There are infinite options because you can look all over the globe if you choose. This, of course, opens up many more options than if you are just shopping in your city or even country. In addition, the design of the homes around the world vary as well, so you also get more options in the type of home you can buy.
You have your own vacation property
If you’ve always dreamed about having a vacation home, purchasing property abroad is a good investment, even if you don’t expect to use it very frequently. With travel being so popular and only continuing to grow, you have many options to rent your property long- or short-term, so that you can pay your mortgage and have your very own place to stay when you want to get away.
Kandice Henry is a Real Estate agent with iPro Realty LTD. She has been in the Real Estate field for over 10 years.
Her hands-on knowledge began when she purchased, flipped, and leased her own properties. Two years ago she began her career as an agent and has had much success helping clients purchase and lease in both the residential and commercial sectors. She is a hard working agent who truly cares about finding the perfect fit for her clients. Kandice's resourcefulness lends to her full, experienced team behind her that is ready to help you close your next lease or purchase.