6 things to remember when you buy property in the EU

By : Nick Marr

There are a lot of people, who has a dream to buy or purchase property in EU. There are numerous reasons behind it, which include additional services, better lifestyle etc. If you are going to purchase a property in EU, then it is a very good idea.

Purchasing a property in EU seems to be easy, but there are a number of aspects related to it. Especially, if you are moving to live in EU from a different country, you should make sure that you have all the necessary accommodation and requirements, such that you are suitable enough to live in the property, which you purchased in EU. But here are the six aspects, which you should remember before you pry property in EU. You can click here for more such aspects.

Residential rules

Depending upon the country, where you will be living in EU, there are numerous residential rules that should be followed. The agreement must be signed before you start living in your property, else you will not be permitted to live in your own property. Apart from it, you should also have the necessary documents, like passport, visa, if you are moving from a different country to EU.

Medical insurance

If you are from different country, the rules related to medical field is a lot different from that in EU. You should definitely purchase a medical insurance, if you start living in EU, such that you can easily tackle the high medical bills, in case you face any kind of medical problems in your life. It is advisable that you pay the most importance to medical insurance as soon as you start living in EU.

Knowing the tax system

Tax in the EU

If you start living in EU, the taxes play an important role. The tax system in your country might be a lot different from the tax system, which is there in EU. You should make sure about all kind of tax related aspects, before you purchase a property in EU, if you want to avoid troubles related to taxes. If you are unable to pay the taxes, you will not be allowed to live in your own property, which is purchased by you.

Currency risk

If you are from a different country, where you are doing your job, or your family members living in EU, and you are sending the money, make sure that they do not face any kind of currency risk. Depending upon the country were living in, the value of currency is a subject to vary. Thus, you should always make a backup such that, in case the currency fluctuates, you can back it up with other source of income.

Real estate agents

If you are purchasing a property to real estate agents, make sure that they are not overcharging you. There are a lot of real estate agents in EU, who has the habit of overcharging, and you should be careful. Thus it is advisable that you talk to numerous real estate agents for the best price for your property.

Schools and colleges

If you have small members in your family, make sure that you find schools or colleges for them, such that they do not face any kind of troubles related to schools after reallocation to EU. There are numerous colleges and schools, to choose from and you should choose one of the best schools or colleges depending upon your requirement.