How to sell House? Part 2.
How to sell House? Part 2
The spread of wealth all across the length and breadth of UK has brought about an impetus in boosting property prospects. Big cities like Manchester, Cardiff and Sheffield have contributed a lot in the movement of businesses away from London. Young business owners and the growth in the companies across the nation have taken their business activities in these regions which is good for the property sector away from London.
‘Manchester continues to be the most promising performer nationwide’, says Barclays ‘as it has the best turnover rate of small and medium enterprises’. The prosperity report from Barclays shows that London remains the wealthiest city in the UK. London’s prosperity has been growing by 12 percent annually.
IMPORTANT POINTS TO PONDER REGARDING PROPERTY
Investing in property overseas is good to grow the value of your assets. It helps into a country’s economy and also produces a good return for you financially. So keep in mind,
- Residency & Citizenship Schemes
Investing in property in some countries make you eligible to apply for a residency visa or even a citizenship scheme. “Golden Visa” to investors is given a resident.
- Reputable agents and lawyers
Always look for a lawyer wise enough to safeguard your interests. You must ensure that your lawyer is,
- Qualified to practice in both the UK and overseas
- Speak both English and the local language
- Specialized in property law
- Experienced in working in your chosen country
While dealing with property make sure on taxes and their future implications. Better seek the advice of expert.
- Double taxation agreements are available in most European countries to save you from paying twice both in the UK and your adopted country.
- Income Taxis to be paid in your chosen country if you rent your property out while you are away.
- You will be subject to Capital Gains tax if you decide to sell your property.
Location of your property is significant whether you are buying property for gains or for personal use. You need retail outlets, school and hospital etc at an approachable distance. By and large countryside is calm and quiet whereas cities and towns are full of activities and din. So just consider all the pros and cons before buying property.
- Check and make copies of the paperwork
See that you get all the papers of negotiations, transactions and the deals in written form. Keep all the receipts of payments in paper as documentary evidence rather than e-mails. Documents are helpful in case of entering a Golden Visa investment program.