Choosing Your Home Abroad
When you are deciding where to live, what sort of accommodation to live in and whether to rent or buy, a number of factors should be considered, including: the expected length of stay; local market factors; whether you are travelling alone, as a couple or as a family; available budget; whether you are financing the cost yourself or being provided by your employer as part of a package.
There are generally a number of options:
- Serviced Apartment – The advantages of this option have already been covered and for some it is a very attractive lifestyle with all the facilities provided and an active community of like-minded people in the building.
- Purchase – Where expats are on a defined stay it can be a high risk strategy to purchase. The key risk is that if you have to leave at a defined time you may be forced to sell at a disadvantageous time in the market. There is also the risk that you will be forced by circumstances to return to your home country sooner than expected. If you are staying for a longer period or have moved with the specific intention of investing in property as part of a change in lifestyle you will need to ensure that you understand the market and the risks and opportunities you face. See Buying a Home Abroad
- Rented Accommodation – For most a rental property is the most popular choice. In the majority of locations there will be a wide range of choices to suit most situations. You will generally be able to choose between furnished and unfurnished and identify the most appropriate residential area in the centre of the city or further out. The advantages of renting include the ability to match the term of the rental to the length of your expected stay and not having the liability to deal with maintenance and equipment faults.
The arrangements for renting accommodation will vary from location to location with estate agents and realtors available to help you find a suitable home in many places. The World of Expats Destination pages include information on the arrangements for each destination.