Buying a holiday home abroad can be exciting and life-changing - and maybe a little bit terrifying. You've had unforgettable holidays there. You've fallen for the beaches, the bakeries or maybe just the pace of life.
So what next?
The good news is that in most countries buying a holiday home is not overly complex, and it’s as legal for international buyers as for local people.
This guide breaks the process down into simple, manageable steps.
Step 1: Consider your property options
Different property types come with different price points, as well as a host of other advantages and relative disadvantages.
Here are a few options to think about to help you narrow down your search.
The fixer upper
You may have heard of Italy’s “one-euro homes” (where you get the home for almost nothing but have to spend tens of thousands to do it up), but while that’s an extreme option and limited to small areas, taking on a renovation project can certainly offer an affordable option.
Buying a holiday home with family
Got a sibling who wants to buy with you? Can you access “the bank of mum and dad”? Sharing the costs and workload of owning a holiday home abroad makes all sorts of sense.
Buying a new-build home off-plan
If you can wait a year or two, buying off-plan (i.e. before the property is built, you’re just choosing it from the plans and paying in stages as it goes up) can be more affordable and you get something absolutely brand-spanking new.
A grand design
Whether you dream of a cave home in south-east Spain, a trullo in Puglia or a cabin on a Norwegian fjord, there are a host of exciting holiday home opportunities.
Step 2: Get the right people on your side
You don’t have to do this alone! This is a legal and financial process, so start by building a team of trustworthy professionals. You’ll need:
A local estate agent who understands second-home buyers
An independent lawyer who speaks both your language and theirs
A good currency specialist
There may be other professionals you need, such as a surveyor, architect or notary, but you can engage those further down the line.
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Step 3: Choose the right location (and know the rules)
You probably already know the area you love. Maybe it’s your favourite surfing coast or the mountain village where you proposed. But when committing your life savings your knowledge needs to get next-level.
Spain, France, Portugal, Greece and Italy are top picks for a reason: great weather, great flight connections and lots of English spoken.
But even within these countries, things vary. One town might be buzzing all summer, then feel deserted in winter. Another might have a strong year-round local community.
Some questions to ask:
Is the area busy and accessible off-season? It’s best not to rely on just one budget airline route as schedules often change.
Are there any restrictions on non-residents owning property? This is why you need an independent lawyer on your side from the word go.
Will you need permission to renovate or even repaint? You love the property but… check you can do what you want with it!
Step 4: Know what paperwork to expect
You might need a local tax number before you can buy anything. Spain has the NIE. Portugal has the NIF. France likes its notaries involved from the beginning. And in Italy? Expect quite a bit of official stamping and signing.
Don’t panic, none of this is designed to stop you, just to make sure you do things properly. Your lawyer should explain everything in plain English and stop you from signing anything dodgy.
And ignore advice like “you don’t need a lawyer if you trust the estate agent.” You do. Even if you trust them, their job isn’t to protect you.
Step 5: Get your finances in order
Buying in euros (or any other currency) means you’re at the mercy of the exchange rate. That could make your dream home cost thousands more – or less – than it did last week.
Work with a currency specialist who understands property purchases. They can help you lock in a good rate for your deposit or even for the full amount later down the line. That means no nasty surprises just before you complete.
If you’re buying with savings, it’s worth setting up a local bank account to handle taxes, bills and ongoing costs. If you need a mortgage, start those conversations early. Many local banks will lend to overseas buyers, especially for second homes, but the process can take time.
Step 6: The buying process
Once you’ve found the one – the finca, the rooms with a view, the cottage with honeysuckle round the door – here’s roughly how things go:
Make an offer – usually through your estate agent.
Preliminary contract – this varies by country but often involves a deposit that commits you to the sale, albeit with get out clauses.
Due diligence – your lawyer checks everything: boundaries, debts, planning permissions.
Final contract – when all’s in order, you’ll sign the final deed and pay the balance.
Completion – keys in hand, your holiday just got permanent.
Buying a holiday home abroad isn’t always straightforward, but it’s hugely rewarding. With the right help and a clear idea of what you want, that little bolthole in the sun could be yours.
You’ll be sipping something chilled on your own terrace before you know it.
Find a property overseas
Thinking about buying a holiday home abroad - or going the whole hog and living overseas? We've got property listings from around the world right here, just choose your destination.
