If you want to buy a new property for exotic breaks you should analyze very well the market and decide where is the most advantageous to spend your holidays. Is there a direct flight? Do you need a visa and are the taxes too big? These are just a couple of questions you should ask yourself before choosing a destination. However, a lot of people have started to buy properties in Cape Verde, due to the prices that have been significantly reduced in the last years. Here are some things you should take into consideration when searching for a new property:
- Is it a stable region?
You should check before making the purchase if the region is stable socially as well as politically. Also, it is important to know if the people are friendly and welcoming. You don’t want to go somewhere without neighbors you can rely on.
- What taxes are mandatory and how the legal procedures work?
If it’s as new country, you should talk to a lawyer before committing to a property about the laws and the taxes in the area you are interested in. The legislation could be different, the purchasing methods could have some aspects you know nothing about and the taxes and legal fees can be nothing like in your hometown. Double check all these aspects because you don’t want to pay fines afterwards for omitting legal steps you didn’t know they existed.
- Do you meet the passport and residency requirements?
It is important to know before buying a property if a passport and a visa are needed to go on a holiday there and what requirements you need to fulfilled to obtain residency.