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10 Things to Consider When Investing in Overseas Property

10 Things to Consider When Investing in Overseas Property

While the global real estate market may have enjoyed months of uninterrupted growth, large-scale investors have recently begun to sell luxury properties amid fears that surging prices are creating a bubble. Although this may represent the higher end of the property market, it is a worrying development at a time when the global economy is finally beginning to emerge from the shadow of long-term decline.

This is just one aspect of the real estate market, however, which continues to evolve and create new challenges for investors and vendors alike. Just recently, British real estate firm Property Rescue collaborated with the national ombudsman to launch a new National Association of Property Buyers (NAPB), which will operate in the controversial “Quick House Sale” sector and provide self-regulation that protects both investors and home-owners alike.

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    The Key Considerations When Investing in Overseas Property

    Whether buying a home domestically or overseas, there are clearly a high volume of challenges that need to be overcome if you are to safeguard your investment. These issues are amplified when buying property abroad, especially if you are expanding your portfolio into new and relatively uncharted territories. With this in mind, consider the following factors before finalizing your international real estate investment.

    1. What is your reason for buying overseas property?

    This is arguably your single most important consideration when buying a property overseas, as it will have a direct influence on everything from your budget to the type of insurance that you invest in. If you are buying a property for the purpose of investment, for example, you will need to execute all financial decisions in line with your estimated return. If you are purchasing a home with a view for relocating, however, you will need to focus on standard considerations such as the surrounding area, local amenities, and school catchment regions.

    2. The need for finance and funding.

    With a clear understanding of your motivation, selecting viable properties to suit your needs is a relatively straightforward process. Securing finance is a far more challenging exercise, however, especially when you consider the fact that it will be subject to international laws and usually discussed in local currency terms. As a starting point, be sure to obtain an “Agreement in Principle” before confirming the purchase as this will safeguard you in the event that you are not extended a loan and enable you to reclaim your initial deposit.

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    3. Consider your tax liability as an investor.

    Everyone’s tax circumstances are different, and this is especially true in the diverse and changeable real estate market. Each nation will have its own unique body of tax laws and legislation, which may require you to repay costs such as stamp duty, title transfer tax or even inheritance tax at the point of purchase. Beyond this, some countries also require home-owners to pay land tax as a condition of their mortgage, and this is usually an annual cost that can eat into your capital. These potential costs must also be factored into your budget, as otherwise you may face significant legal penalties.

    4. Understand the value of local money and exchange rates.

    On a similar note, it is also worth understanding the value of local currency and any associated exchange rates. If you intend to bring money from your own country overseas at different junctures, you may also need to obtain a Certificate of Importation and open a local bank account. This makes it far easier to repay affiliated tax debts and legal fees on time, as you can quickly establish a series of standing orders to suit your requirements. If you are going to execute a smooth and trouble-free transaction, this should be considered a crucial part of your preparation.

    5. Obtain an independent valuation.

    If you were purchasing a home in the UK, you would not think twice about requesting a structural survey and an independent valuation. Many investors fail to do this when purchasing an international property, however, due to the cost and logistical challenges of organizing these tasks from a remote location. Obtaining an independent valuation and guaranteeing the integrity of the property is a fundamental part of any real estate transaction, however, and it is important to remember that any costs are a small price to pay to protect a larger investment.

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    6. Overcome the language barrier.

    Even if you do not intend to relocate permanently, you will still need to engage directly with international vendors and agents when purchasing property overseas. This may pose an issue with regard to any language barriers, which can easily create miscommunication and either delay completion of a deal or have a negative impact on cost. While you can overcome this by taking time to learn the relevant language, it is often far more tome-effective to employ the services of a legal professional with a knowledge of conveyancing.

    7. The need to confirm title and ownership.

    Given the remote nature of international real estate investment, it can be difficult to develop trust with vendors and agents. This means that you must be extremely cautious when discussing issues such as title and ownership, especially as any debt that exists on a property may be passed onto you once the transaction has been completed. If a developer has previously borrowed money to complete the work and not repaid this, for example, you may be liable for the repayment and any affiliated charges as the new owner.

    8. Research the location and local amenities.

    Even if you are comfortable with the financial and tax aspects of purchasing a property abroad, you must still conduct research into the location, its transport links, and local amenities. This is especially true if you intend to live there, although investors must also have knowledge of the region if they are to successfully let their property and generate a consistent return. When buying a holiday home for rental purposes, you must also be sure to research off-peak travel times as you may well experience a fall in demand and income during this period.

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    9. How will your safeguard your property when you are absent?

    If you are buying a holiday home or investing in real estate in order to make a profit, then there is no need to relocate permanently. This means that your property may well be empty for a significant portion of the calendar year, so you must be proactive and prepared to organize security year-round. One of the best ways to achieve this is to employ a local property management firm, who will make regular visits to check on the residence and organize any necessary cleaning or maintenance tasks. Although this will require additional investment, it can help to save you money and safeguard your assets.

    10. Do you have an exit strategy?

    Whether you intend to relocate internationally or develop a global real estate investment portfolio, it is important to remember that even the best laid plans occasionally go awry. You will therefore need a suitable contingency plan and exit strategy, as this will minimize any inconvenience caused and the potential for financial loss. For those hoping to relocate, it is therefore important to retain strong ties in your country of origin and ideally retain an existing property for a predetermined period of time. Investors will also need to keep a keen eye on the global real estate market and prevailing economic trends, as these factors may dictate the need to sell or change strategy.

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    Last Updated on July 4, 2019

    25 Killer Sites For Free Online Education

    25 Killer Sites For Free Online Education

    Whether you’re five or ninety five, the internet has a lot to offer. Particularly when the topic is education, the resources on the internet are endless.

    Best of all, many high quality sites are completely free. From history to coding, excellent free online education awaits on the following 25 sites.

    1. Coursera

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      Coursera is a website that partners with universities and organizations around the world. This brings a wide variety of topics and perspectives to one searchable database.

      Coursera is a powerful tool for free online education, and includes courses from many top universities, museums and trusts. This gives the site an extremely wide range of in-depth courses.

      Coursera is extremely useful if you’re looking to study many different topics, or want courses from different schools and groups.

      2. Khan Academy

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        Partnering with many post secondary schools, Khan Academy offers a useable, well organized interface. Also curating many courses from around the web, Khan Academy offers impressive depth on many different subjects.

        Among the more well known educational sites, Khan Academy is also incredibly useable, which may make it easier to keep learning goals.

        3. Open Culture Online Courses

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          If you are struggling to find exactly the material you are looking for, try Open Culture’s listing of free online education courses. The page highlights 1000 lectures, videos and podcasts from universities around the world. The site features a lot of material found only on universities private sites, all in easy to browse categories. This means you can find hundreds of university courses, without having to visit and search each university’s own site.

          Open Culture’s list features courses from England, Australia, Wales and many state universities around the United States. A very helpful resource for finding many courses in one area of study.

          4. Udemy 

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            Udemy’s free courses are similar in concept to Coursera’s but additionally allows users to build custom courses from lessons.

            Working with many top professors and schools, the site mixes the customizable platform of other sites with a heavy emphasis on top quality content. This is another site however, that mixes free and paid content.

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            5. Academic Earth

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              Another site with courses from many different schools is Academic Earth. Much like the three sites above, Academic Earth brings together top notch courses from many different sources, and focuses on offering a wide variety of subjects.

              Academic Earth lists courses by subject and school, so it might be easier to find what you’re looking for.

              6. edX

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                Another great option for free online education is edX. Also bringing together courses from many different schools, the site has impressive, quality information for everyone. edX covers a great range of topics.

                7. Alison

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                  Unlike the previous sites on this lists, Alison is a free education site offering certification in some areas. Alison offers courses mainly in business, technology, and health, but also includes language learning courses.

                  It’s a great option if users need certification for their learning as Alison also offers school curriculum courses.

                  8. iTunesU Free Courses

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                    A very convenient place for free online education is iTunesU, because it integrates seamlessly with your iPod, or any app-ready Apple mobile device. On iPad, iPhone, or iPod touch, users download the iTunesU app.

                    Desktop users can access  iTunesU on the upper right hand corner of the iTunes Store. iTunesU is also convenient because the store is categorized much like iTunes.

                    Users can search learning materials in many different ways, including genre and topic. However, courses are often a mix of free podcasts or videos, and paid content.

                    ITunesU does include courses on a pretty wide scope of topics, but does not integrate with Android, Google or Windows mobile devices.

                    9. Stanford Online

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                      Your hub for all the online offerings from Stanford University, Stanford Online offers self-paced and session based courses. While Coursera features some courses from Stanford, many classes are only available via other hosts. Some courses require iTunes, but most are completed in your web browser.

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                      Stanford Online is a great site for high quality courses, though the topics are somewhat limited compared to sites partnered with more than one school.

                      10. Harvard Extension

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                        Like Stanford Online, Harvard Extension features free online education courses from Harvard only. This is another excellent source for top notch course material, though the course variety is less rich than multi-school sites.

                        Additionally, Harvard Extension allows you to search for courses by professional certificate. This makes it much easier if your online education goal includes certification.

                        11. Open Yale Courses

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                          Open Yale Courses echoes Harvard Extension and Stanford Online, in that it offers only courses from Yale. While the site is similarly limited to topics taught at the school, Open Yale Courses offers a lot of videos of actual campus lectures. The availability of videos makes the site a great option if you’re looking for quality courses, but learn better by watching than by reading.

                          12. UC Berkeley Class Central

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                            Much like the other schools on this list, UC Berkeley has a variety of free online education options. The school has slightly fewer courses than the schools above, but includes some supplementary lectures, webcasts and RSS Feeds, making it easy to keep up with the topics you choose.

                            13. MIT OpenCourseWare

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                              Similarly, MIT offers a variety of free courses. The school has a comparable number of courses to the schools above, plus includes very in-depth course materials on the subjects available. MIT also offers free RSS feeds, a convenient way to continue learning.

                              14. Carnegie Mellon Open Learning Initiative

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                                Carnegie Mellon’s free online education site is comparable with the other school’s on this list, however, Open Learning Initiative also covers a smaller range of topics. But for the topics that are covered impressive, in-depth material is available.

                                15. Codecademy

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                                  Codecademy is a website dedicated specifically to teaching coding. Where other coding sites follow an example/practice session workflow, Codecademy includes a live practice window. This means you can practice coding while still viewing the lesson material.

                                  The courses at Codecademy are well written and easy to follow and the website is organized very nicely. Codecademy features a centralized dashboard where you can monitor your progress, plus organizes lessons into complete modules. This lets you learn an entire language without needing to pick the next course manually.

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                                  16. Code

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                                    Code is another website focused on coding and app writing. A site with high quality courses, Code also features learning options for kids.

                                    In addition to kid friendly courses, Code offers free online education classes on a wide variety of technology topics. These classes include app writing, robotics and Javascript.

                                    Most of the courses are also geared in a such a way that they can be useful in a classroom setting. This makes Code a great resource for harder to find coding topics, as well as various learning settings.

                                    17. University of London Podcasts

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                                      The podcast page on the University of London website is another great source for free education. While the courses are limited to podcasts, the site features podcasts from it’s own campus, as well as eleven universities in and around London. This gives learners a wide base of topics and lectures, but still ensures in-depth material.

                                      18. University of Oxford Podcasts

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                                        Similar to the University of London, the University of Oxford features many different podcasts. Most are public lecture series or lectures from visiting professors, with several different recordings available.

                                        The advantage to this particular site is that podcasts are organized into series, making it easy to subscribe to multiple lectures on one topic. Another good site for thoroughly in-depth lectures.

                                        19. BBC Podcasts

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                                          For the more casual learner, the BBC offers a wide variety of podcasts on many different topics. Most podcasts are updated weekly, and focus on everything from finance, to sports, to current events.

                                          Through the World Service line of podcasts, there are also many in different languages. The focus of these podcasts are less in-depth and theory based, which may be more accessible to the average person.

                                          20. TED-Ed

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                                            Another great destination for more general learning is TED-Ed. From the same people that brought you the all encompassing, motivational web series, comes a site chocked full of educational videos. Most include impressive animation, and all are ten minutes long or less.

                                            Not only is TED-Ed an excellent site for the curious, it also includes supplemental materials and quizzes on the videos. This makes the site extremely useful in formal education settings, as well as in entertaining ways to brush up on new discoveries and topics.

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                                            21. LessonPaths

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                                              LessonPaths is another great tool for those looking for a more usable and convenient way to access learning material. On this site, users create link playlists of their favorite learning materials from other sites. Users then rank these collections, making it easy to find many different high quality, accessible sources on a given topic.

                                              22. Memrise

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                                                Another impressive free online education site offering ease of use and convenience is Memrise. Available both on desktop and as an app, Memrise is a particularly powerful tool if you are studying a language. The site encompasses many other topics as well, though some of the course material is user generated content.

                                                Part of what makes Memrise special is their integration of games into the learning materials, mixing learning with entertainment.

                                                23. National Geographic Kids

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                                                  The kids site for National Geographic is another site that makes free online education applicable for younger users. For those looking for kid friendly education, a large variety of games, puzzles, videos and photos keeps kids interested on this site.

                                                  National Geographic Kids doesn’t organize learning into courses, making materials available by topic and medium instead. This makes National Geographic Kids a good option for those looking for a more casual learning environment.

                                                  24. Fun Brain

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                                                    Fun Brain is another good option for kids who want to learn online, but focuses on games and fun puzzles. Particularly focused on math and reading, Fun Brain’s game based approach can be valuable if the child in question struggles to pay attention.

                                                    Fun Brain offers rewards and challenges as well, and is another site aimed at a casual learning experience for kids K-8.

                                                    25. Whyville

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                                                      Similar to the sites for kids free online education is Whyville a destination for preteen online learning. The site includes a variety of social features, with a focus on learning materials geared for young teens.

                                                      Whyville also mixes in educational games, to make the site a well rounded option for kids too old for simple games, but too young for heavy reading based material.

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                                                      Featured photo credit: Dai KE via unsplash.com

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