Top 5 Ways to Finance Home Purchases Overseas

In many countries, foreign buyers cannot get bank financing. It is one of the biggest problems in buying property in another country. Getting the required capital can be a challenge. Here are five ways you can finance your home purchase overseas.

Bank financing

In most parts of the world, you won’t get bank financing. Even if you do, you won’t get any favorable terms. There may be lots of restrictions on the foreign buyers. But if it is available, it can be one of the best options. There are two types of bank financing: resident and non-resident. If you are a legal resident of the place then you will get the same treatment as a citizen. If you are a non-resident, then the terms will be difficult and there is very less chance that you will get a loan.

Borrowing on home equity


You can take out a home equity line of credit on the property. You may not use the money if you don’t have to. The interest will be lower and you won’t have to pay any interest until you use the money.

Seller financing

There are some sellers who might be interested in financing partially. The terms will be whatever the seller and the buyer decides.The seller won’t give you the deed until you pay off the loan money.

Developer financing

In many places, developers often offer financing options for foreign buyers. Usually, when the developers just start to sell, they offer such financing options.

Use your retirement fund

If you have funds in your retirement account then you can use that money to purchase home overseas. There are some rules you need to follow.

If you are thinking of purchasing home abroad, consider these financing options. You should compare the different options and choose the best one depending on your condition.

4 Tips for Buying Home in Sicily

Sicily is a great place to live. If you are thinking of buying home in Sicily then you will need to do some research. Buying a home in Sicily is different from buying home in any other European city. Here are some tips that can help you.

1. Study the geology and geography of the area

When you look for a property in Sicily, you should find out the structure and quality of the land that you are purchasing. You should conduct a detailed survey on the property.

2. Types of property

You will find various kinds of properties in Sicily, including houses, apartments, villas, farmhouses, etc. You must decide what kind of house you want to buy.

3. Location

Sicily is a safe place. You should consider factors like amenities, safety, transportation, etc. when choosing a location to buy a property. If you want to buy a property and want to use it as a rental home then you should choose a location where there will be lots of tourists.

4. Financing

The best way to finance house in Sicily is by taking a mortgage. You should choose the type of mortgage you want to take. The mortgage must suit your needs.  You should take advice from real estate agents or financial advisors regarding tax and other factors.

These tips will help you to buy a property in Sicily. You should hire a good real estate agent to guide you throughout the entire process.

4 Reasons to Buy a Home in Sicily

Many people now consider owning a second home. They prefer a beautiful place for their second home so that they can go there in holidays and have some great time with family. Sicily is a great place to buy a home. The home prices in Italy have dropped and so you will be a winner if you buy a home here. Following are the main reasons why you should consider buying home in Sicily.

Potential

There is incredible potential in Sicily in terms of property. It is the largest Mediterranean island. There are many options available for your; you can choose to buy a property in the countryside, seaside or city. There are great choices available to the buyers. Some recent changes in Sicily have made it a more potential location for investment. A new terminal is made in the Catania airport and tourist bus is available. Many airlines now fly to Sicily. So, it’s much easier to come here now.

Great weather

Weather is one of the reasons why people choose to live in Sicily. You will get consistent sunny weather between April and October.

Affordable homes

Though the prices of homes vary, they are affordable. If you want to do some renovation project, then you can choose properties int eh rural areas.These properties are very cheap.

Tranquillity

Here you will have a peaceful life. With warm weather, beautiful sceneries and beaches, you will be able to relax all day in this beautiful place.

So, if you are thinking of buying a home abroad, consider Sicily. It will be a good investment and you will be able to spend some wonderful time here.