International Moving Guide: Rent or Buy When Moving Internationally?

Rent or Buy

You’ve made the decision to relocate to a new home in a new country. Now you must tackle your first big question: Do I rent, or do I buy?

Many factors are going to play a role in this decision, including how long you plan on spending in the new location. If you are moving internationally for a short period of time it may make more sense to rent. Some families like to rent first so they become familiar with their new surroundings. Once you have an understanding of the neighborhoods and housing market in your new country you will be in a better place to buy.

If you decide to buy, start house hunting early. The sooner you start looking, the more likely you will find something within your budget. There are actually many real estate agents that specialize in the purchase of homes abroad. Your employer may have useful information on real estate and may be able to set you up with a local realtor. Family and friends can also play a big role. Ask if they have visited the country or if they have any contacts in the country. Friends of friends living in the destination country may be able to offer the best advice. You can even get hold of local newspapers online that often contain useful real estate information.

There are many resources available to you so use them all. Purchasing a new home is a big decision for you and your family but with the right preparation it can be an exciting and even lucrative investment.