12 Reasons to Buy Real Estate Overseas

By Jennifer Noble | Jul 30, 2018

Have you ever dreamed of owning a property overseas? If so, you should know that this is something that you can easily achieve. Of course, you’ll have to do some research in order to ensure that you don’t make wrong decisions, but you’ll ultimately see that there are a lot of benefits to owning real estate abroad. Here are 12 reasons why you should consider buying real estate overseas.


Own a Place in the Sun


Instead of buying property in Florida, you can find some great vacation homes in Puerto Rico for an insanely lower price. By owning a vacation home overseas, you’ll have a place that you can always visit with your friends or family. On top of that, you will have the option of visiting it whenever you please and staying for as long as you like.


Tax Deductions


There are a lot of people who search for vacation or retirement homes overseas not only because they want a change of scenery, but because they can get tax deductions as well. If you live in a property abroad, then you can deduct property taxes and mortgage interest. In fact, you can deduct this even if you’re using the property for rental income. You’ll also be able to deduct other expenses like maintenance and repair costs, as well as property and liability insurance.


Passive Income


It’s always a good idea to have a source of passive income. With that being said, buying real estate overseas is a surefire way to earn some extra money without having to work for it. Keep in mind that if you’re able to generate a lot of income passively, then you will have the freedom to follow your dreams and live off the money you earn from these properties.


Deduct Travel Costs from Your Taxes


Every time you decide to manage and inspect your property, you will be able to deduct travel costs from your taxes.


The Security of a Hard Asset


Investing your money properly can be hard if you don’t know anything about it. However, getting a hard asset is a sure bet, since the value of your property will never go to zero. “Instead of investing your money into startup companies or cryptocurrency, a safer option would be to buy real estate overseas,” says Richard Lusted, CEO of Siam Real Estate.


Culture


In case you choose to move to a different country, you’ll get introduced to a culture that’s completely new to you. This will not only be refreshing, but it’ll make you appreciate life more as well.


Currency Diversity


If you plan on buying property so you can rent it, then you’ll no longer have to depend on the United States economy to make a living. After all, you will collect rent in a foreign currency.


Retirement Option


Even if you’ve bought a property just so you can rent it doesn’t mean that you won’t be able to use it as a retirement option in your later years.


Investment Diversity


It’s never a good idea to have all of your eggs in one basket. If you want to make money from your real estate investments, then you will need to buy properties in markets outside of the United States as well.


International Asset Protection


If a delivery man was to trip on your sidewalk and suffer an injury, he could sue you and take some of your assets. However, this wouldn’t be the case if you had assets in a foreign country. By having assets overseas, they will be protected in almost any case.


Foreign Residency


If you have property in a foreign country, it could mean that you’ll eligible for a residency visa there. In some countries buying property will bring you one step closer to a residency visa.


Agricultural Investments


If you’re looking to make a good investment now, then you should try to take advantage of the world’s agriculture boom. Keep in mind that available farmland is shrinking, so now would be the perfect time to invest in this type of property overseas.

 

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