Buying an apartment abroad

Everything you need to know

Buying a home abroad is a dream for many, but it is also a process that requires careful planning and understanding of local regulations. Each country has its own legal requirements, tax systems, and financing solutions, making it crucial to have a clear plan and professional advice before committing financially. Popular countries among Swedish buyers include Spain, Italy, Portugal, and France, but the market and rules vary greatly depending on the country and region.

Legal aspects and contracts

A proper legal review is crucial to avoid future problems. This involves hiring a local lawyer who can review contracts and documents, ensure everything is correctly translated, and that the home purchase complies with the country's legislation. The contract should clearly specify the home's price, payment terms, any down payment, and what guarantees are included. Incorrect contracts can lead to problems with ownership, association fees, or future sales, and can be both time-consuming and costly to correct.

Financing & payment terms

Financing can be arranged through Swedish banks or local banks in the country where the property is located. Terms, interest rates, and amortization requirements often differ, and it is important to have a clear picture of how much you can borrow and what costs come with the loan. Having control over your financing before signing the contract reduces the risk of surprises and provides a secure start to the deal.

Taxes & running costs

When buying property abroad, you must consider taxes, property fees, and any association fees. Some countries have higher property taxes, while others offer favorable rules for foreign owners. Additionally, there are costs for insurance, electricity, water, and maintenance. Factoring in all these costs before the purchase is essential to avoid financial surprises.

Practical aspects & maintenance

Another important factor is the property's operation and maintenance. In some countries, the climate can affect the property's condition, such as high humidity requiring extra maintenance or the risk of mold. Renovation needs, common areas, and the association's responsibilities should also be investigated.

Small points that are good to keep in mind:

• Legal advice and contract review
• Financing, interest rates, and payment terms
• Taxes, fees, and ongoing operating costs
• Local rules regarding maintenance and renovations

Tips for a secure investment

Buying a home abroad requires planning and advice. An experienced real estate agent with local knowledge can guide you through the process, from contracts and financing to taxes and insurance. By conducting a thorough analysis of the market, checking the property's condition, and understanding all costs, you can minimize the risks. A properly planned investment makes it possible to enjoy the home without unexpected problems.

With the right support, the home can be used for holidays, rentals, or permanent residence. Having full insight into legal, financial, and operating costs provides security and makes the deal sustainable in the long run.

Contact Notar to get in touch with experienced agents and advisors when buying an apartment abroad - make your purchase secure and correct from the start.