Money News
A third of people aged 50+ are considering buying a holiday home abroad, according to a new report by over 50s specialists Saga. And whilst it may only be a second home at the moment, in the future over half (52%) say they may even be looking to move there permanently.
Although a place in the sun can be tempting, the realities of buying a property overseas can sometimes turn this dream into a nightmare. A third of those interested in buying a property said the main thing that would put them off would be the legal issues; others listed the language barrier and struggling to understand local taxes as possible problems.
To help those looking to move to Spain, for example, Saga has launched its own overseas property service, Saga Overseas Homes. It is designed to consolidate all the services needed, including estate agents, legal advice and even help with renting out the property if bought as a buy-to let investment. Saga will be working with Chesterton and Medsea Estates - both of whom have local knowledge and expertise in this area.
Customers who buy new build developments are also offered six-free return flights to use between payment of the deposit and completion of the purchase. Also, if people want to rent out their property after purchase, they can advertise on Saga's website for free for a year.
Worth pointing out is that the free return flights offer excludes travel during the holiday periods, in particular Christmas, Easter and half term. The flights are subject to Saga's booking conditions at all times and are restricted to Saga flight availability.
31 January 2007 © Moneyextra.com
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