The Daily Express has published its ten most important things to consider if you’re thinking of purchasing a retirement property overseas.

  1. Think about renting in the area you’re considering before going to the hassle and expense of a purchase.
  2. Currency fluctuations month-to-month can be avoided by taking out a mortgage in the same currency as you receive your income.
  3. When budgeting for your new home, make allowance for transaction costs, fees and charges – this could be at least 10% in some countries.
  4. Check the month-to-month affordability of things like local land taxes, household bills, any communal charges (eg pool maintenance) and everyday expenses.
  5. Take specialist, independent legal advice, with no links to the estate agent, developer or other vendor of the property you’re buying.
  6. Check deeds and planning permissions carefully.
  7. Don’t expect to make a short-term profit on your property – look at it as somewhere to enjoy in the long term.
  8. Like in the UK, location is everything – beaches and busy town/city centres will always attract a buyer later.
  9. Don’t go too far off the beaten track – nearby shopping and transport links, as well as other amenities, are important.
  10. Beware of exchange rates, ensure you get the best deal you can and be aware that the real cost of your overheads could soar if the pound weakens against the local currency.