The Best Time to Shop for a Holiday Home in Europe is Now! For Americans interested in holiday homes in Europe, the timing couldn’t be better! The euro has been on a steady decline against the US dollar since January 2015, and now it’s at its lowest rate ever—which means that buying an overseas home has never been cheaper! A summer home in Italy or Spain, a ski chalet in Switzerland or Austria, or even a luxury vacation rental in France, Portugal, or Greece can all be yours for less than you might expect.
Real estate is an investment
Whether your tastes run toward quaint or extravagant, you’ll find your match. You can buy something secluded and cozy or huge and lavish–whatever suits your budget. Most importantly, as the euro continues to weaken against the dollar, this could be the best time ever to buy overseas property. So if you’ve been considering getting out of the U.S., go ahead and start shopping today! You might want to start with Portugal, where prices are among the lowest in Europe. When we started looking at houses there earlier this year, we found them starting around $150K (yes-hundred-and-fifty thousand). The countryside outside of Lisbon is especially charming: Rolling hillsides with olive trees, cork oak forests, pine forests and vineyards will remind you that rural life does have its charms. And when it comes to coastline scenery…well, I’m sure you’re already picturing yourself on an empty beach with just the sound of waves lapping up on shore; there’s no need for me to paint any more pictures.
Strong American dollar
A weak euro could be a great thing for European vacationers—and American homeseekers. Of course, the currency has its limitations: if you’re looking to buy property in London or Barcelona, this strategy may not work well. But holiday homes elsewhere are still within your reach with some preparation and patience. The exchange rate might fluctuate again soon, but we’ll just have to wait and see what it does next. The reality of the situation is that now’s the time to book your European holiday home—and it won’t be more affordable than it is right now.
European real estate market
It’s hard to know where the market will be when you’re ready to buy your next holiday home abroad. But right now, the American dollar has never been stronger. So if you’re thinking about buying a home in Europe and are on the fence because of recent events, this might be the perfect time. Consider this: Eurozone countries like Greece, Italy, Spain and Portugal are hit particularly hard by high-interest rates and inflation due to their weaker currencies. This translates into higher prices for vacation homes there as well as annual ownership costs such as utilities and maintenance ̶ with prices shooting up 10% or more from last year alone.
What are the popular countries?
It seems many Americans have realized that there are a lot of benefits to purchasing holiday homes in Europe while the Euro is down. Over the past couple of years, tourist spots such as Italy and Spain have seen record-breaking tourist growth. Whether it’s been for short trips or long vacations, these countries offer travellers beautiful natural landscapes, delicious cuisine, and friendly people. Added bonuses include amazing wine and rich history all relatively close by.
What these American tourists didn’t know was how easy it was to find affordable property right now when compared with just last year or if they would be able to manage their new lifestyle financially given the current economic climate back home.
How can I buy property overseas?
Purchasing property overseas might seem like an impossible feat but it isn’t. Whether you are looking to purchase residential, commercial or agricultural land, there are many ways to get the job done. The first question we recommend asking yourself is what type of land do I want? Then, figure out where you would like to purchase it. If your answer is Anywhere! you will have some work ahead of you. For instance, did you know that just because something looks as if it’s on the internet and available doesn’t mean it actually is? You will also need things like: cash flow estimates; vendor price and export prices; employment opportunities; licenses; permits and necessary approvals from various government agencies and ministries before any purchases can be made.
When should I start looking for my dream home?
A long vacation doesn’t just mean lounging on the beach or spending time with loved ones. It also means a chance to explore new cultures and create lasting memories that go beyond this holiday season. A great place to do so? Europe. In fact, there has never been a better time than now to shop for your dream European getaway home. The euro has hit an all-time low against the dollar, making buying property across the pond more affordable than ever before and it’s estimated that bargain hunters can save up to 30% on their next purchase.
Things you need to know about owning your own home abroad
If you’re thinking about buying a vacation home in Europe, consider this before you take the plunge: what does your family do for employment? What kinds of public and private schools are available? How will your children learn the language? Do you think that property values will rise or fall over the next decade? These questions may seem irrelevant at first, but if you don’t have answers, it’s time to do some research. There are many advantages to owning property abroad. For one thing, Europeans live slower lives. This means that outdoor spaces like parks and yards are larger than they are here. In other words, your kids might just grow up with more outdoor playgrounds per capita than they would at home.
One of the many perks of investing in European property is how affordable it can be as we watch the euro weakens. However, I also know that other buyers are concerned about this current downturn. But with careful planning and strategy, you can still find some great properties that will not only serve your purposes now but can also grow alongside the market. It may be wise to work with someone who specializes in international markets if you want to secure your financial interests going forward.
But what do you think? Have you already invested or considered investing into a holiday home? If so, I’d love to hear from you on why this investment makes sense for you during these uncertain times. If not, maybe after reading this post today you’ve decided it’s time get started or talk to an expert.