Is it your own land to buy a house with a garden in Britain?

Hello, knowing the following points will definitely help you to buy a house overseas.

1. Understand the requirements of the host country for the status of foreign investors.

For example, in the United States, some states require that only American citizens or residents can buy local real estate. There are no restrictions in Britain. China citizens with China passports can invest in British real estate.

2. Clarify the purpose of overseas house purchase.

Living, renting, pure investment (long-term consideration), children's education or other considerations are preferred. Investors should adopt different investment strategies and choose different types of real estate. For example, overseas residential properties are usually calculated separately from land prices, and the property is depreciating every year, while the land is "appreciated" for a long time. Buying a property with permanent use right has more long-term investment value. If your child is studying in the UK, it is better to buy a suitable apartment or even rent an extra room instead of renting a house to repay the bank loan to others. The bank's mortgage interest rate is different for different purposes. If you are interested in investing in immigrants, or if there are women studying in the UK, you may need to consider something different. If you need more professional advice, you can contact British Hengtong Real Estate.

3. Understand the local real estate situation and market situation.

On the one hand, with the help of relatives and friends, you can get more reliable information through professional intermediaries, and you have a greater chance to search for the real estate you are satisfied with faster and get more professional all-round services, such as the geographical location of the real estate, the surrounding environment, what kind of residents are neighbors, whether the transportation is convenient, whether there are schools, parks and shopping places, the market price of nearby real estate, and the future development plan of the area. A professional investigation report may give you more bargaining space and save a lot of money. Understanding the historical record and future trend of local housing prices is helpful to make wise judgments. These services without professional companies are difficult to complete.

4. Understand the cost of home ownership and various taxes and fees.

Overseas buyers usually have to pay stamp duty, municipal supporting fees and other taxes, and selling houses will also generate taxes, mainly value-added tax. In some countries, the value-added tax is as high as 45% of the value-added part. In order to encourage overseas people to buy houses locally, some countries, such as Britain, do not levy property value-added tax (capital gains tax) on overseas people to buy houses locally. Many countries have to levy a certain property tax or property tax on an annual basis. In addition to property value-added tax, rental profits are also taxed (income tax). The purchase price of some overseas real estate projects sounds cheap, but the cost of "raising a house" may be high. If it cannot be rented out successfully in time, there will be greater risks. As far as British real estate is concerned, in addition to the house payment, buyers also need to pay the house file and survey fee, house file registration/land litigation fee, stamp duty (SDLT, which varies according to the house price), municipal property tax (parliamentary tax), property management fee (service fee, if it is an apartment) and necessary. In addition, you may need to pay a certain intermediary service fee to help you find a satisfactory house and handle the required transaction procedures. If you need more professional advice, you can contact British Hengtong Real Estate.

5. Pay attention to contractual responsibilities and pay in time.

Regardless of other countries for the time being, as far as investing in British real estate is concerned, buyers can ask for clarification and not sign a contract if they have doubts or uncertainties. Once the contract is signed, it has the legal effect of binding both parties from that moment on. The buyer must strictly follow the contract to avoid possible troubles and legal risks. For example, according to the date agreed in the contract, the down payment for house purchase should be paid to the lawyer representing himself, to the lawyer of the developer, and then to the developer. Arrears of bank mortgage loans and other payments not only affect their credit records, but also may lead to interest claims and even a lawyer's letter warning that the advance payment cannot be recovered. On the other hand, if there is a problem with the quality of the house, or it is the responsibility of the developer, the buyers also have the right to ask for maintenance or compensation. If you need more professional advice, you can contact British Hengtong Real Estate.

6. Property management.

For investors who invest in real estate and then buy it for rent to pay the bank mortgage loan, the most important consideration is not only whether the rent can exceed the mortgage amount, but also property management. Only by successfully renting the property can there be rental income. What kind of tenant will it be rented to? How do people in other places take care of them? What if the tenant doesn't pay the rent or move when it expires? Poor property management or even unmanned management may leave the property vacant for a long time, unable to receive rent, and limit the value-added of the property. It is strongly recommended to use professional intermediary agencies to provide all-round property management services, including furniture allocation, two-year rent guarantee, strict selection of tenants, ensuring rental income and timely emptying of houses, and even providing courtesy services. By paying the property management fee on time or entrusting a British intermediary to carry out professional property management, the owner can save a lot of time and energy and easily become a landlord. If you need more professional advice, you can contact British Hengtong Real Estate.

7. Pay attention to policy changes, especially overseas buyers.

Countries and regions have different restrictions on foreigners buying houses. In terms of loan policy, it is necessary to know the bank's loan procedures in advance. In the sales contract, it should also be agreed how to deal with the situation when the purchaser cannot obtain a bank loan, so as to avoid legal risks in advance. At present, the loan interest rate of British banks is the lowest in history. Responsible intermediaries will introduce the most valuable mortgage service providers to customers and inform customers of policy changes in a timely manner.

Hope to adopt, thank you.