subject: Five Questions To Ask Yourself Before Buying Property In Egypt [print this page]
1. What is the purpose of your holiday home?
Think about why you are buying a second home and what you aim to get out of your property in Egypt. Some people buy a second home so that they have a place to escape to and enjoy beautiful holidays year after year. Others like to watch the market and purchase holiday homes as investments, and fix them up to resell and make a profit. Still others create a business out of their holiday home, turning it into a bed and breakfast or renting it out as private accommodation. Determining what you want to achieve with your Egypt property purchase is a great place to start.
2. What type of home do you want?
There is so much choice these days when it comes to property for sale in Egypt. Homebuyers have the option to invest in villas, townhouses, apartments, or other types of houses. The type of home you choose will depend on your needs. Large families with children will be more suited to owning a villa with a backyard and pool, but couples or individuals would be more likely to choose an apartment. Once your search is narrowed down to a particular type of property, what you are looking for will become a lot clearer.
3. Where do you want to live?
Real estate is all about three things: location, location, and location. This is especially true when purchasing property for sale in Egypt. Before you start looking, you need to know which part of Egypt you want to live in. Deciding where you want to live is linked to the first question about the purpose of your holiday home. If you intend to rent the home out as tourist accommodation, it makes sense to buy in a popular tourist area, but if you are just purchasing a holiday home for yourself you can choose your favourite destination.
4. What is your budget?
Purchasing a holiday home is a big investment, so the first step is to make yourself and budget and determine what you can afford. Set a price range and search for homes within that range, but also consider how much extra you could afford if you found the absolute perfect home. Remember that in quiet areas you can usually get more for your money.
5. Have you found a good estate agent?
Now that you know exactly what you want, where you want it, and what you want to pay for it, it is time to consult a professional who can help you find what you are looking for. Only negotiate with an estate agent who is officially registered and holds a licence, and who instils you with trust and comfort.
