Acquiring a property in another country is a brilliant way to diversify your investment portfolio, but it’s a lot more than that.
Unlike when you invest in the stock market, owning a rental apartment or a beach house is not something you leave to appreciate on its own. You have to be involved in the property market- watching growth trends, price of housing, government policies and so on. An investment in foreign property markets makes you active and you will have to visit it regularly to maintain your interests.
The point here is that while diversifying your portfolio in properties abroad and increasing your net-worth, you get to reinvent yourself. In my opinion, this is the real plus side to having foreign real estate as an option for wealth diversification.
If you are considering buying a property in Spain, there are favourable options available in Costa Blanca.
- Own a second home where it’s warmer
We all know how unreliable the UK weather can be, and those long cold evenings. Instead of waiting for the next patch of blue to appear in the sky, you can move to your property in Spain. A house by the beach means opportunities to bask in the sun and cool off by the sea.
Your children will also love the fun opportunities it presents. Think of the mid-term and long summer holidays, a chance to bond while on vacation. The experience is second to none.
- Retire for an easier lifestyle
As a retiree and home owner in Costa Blanca, you can finally kick back and enjoy the fruit of all those years of investment. Relocate and take advantage of the low cost of living- home maintenance, cheaper fuel costs, power and so on. You can also rekindle the spark with your spouse. Costa Blanca will do that or you.
- Earn income in the tourist months
During the vacation period when tourists flock to the warm city in their multitudes, you’ll likely be smiling on the way to the bank as they will need a place to stay. Recoup your investment by letting out your apartment or beach condo at lucrative prices.
- Benefit from the stable property market
Everybody knows the risks of having all your currency in one economy. As a property owner in Spain, you have an alternative source of income and a diverse portfolio. When there are uncertainties in the UK property scene like those caused by Brexit, you are buffered by the stable property market overseas.
- Earn foreign income
The advantages of being a dual currency earner are numerous, income stability, to risk management you can’t go wrong. Plus, who doesn’t need the extra income? There are also opportunities for income rebates in a foreign country with more relaxed tax policies.
- International asset protection
When you have offshore assets, it is safer from opportunists. Say, a deliveryman who trips on your front porch may likely have access to your domestic savings if they sue. But it will be more difficult to claim part of your wealth when it’s safe in Costa Blanca.