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8 Excellent Reasons to Buy Property in Latvia

Generally speaking, people purchase properties for a wide range of reasons. The main reason, of course, is for living purposes, however, others might see it as an investment opportunity, as well as a way of renting it in the future. After all, real estate is a very good business if the person has proper skills and knowledge about it.

Whatever reasons they have, doing this will allow them to save their money in a form of investment, but, it can also serve as an asset since they’ll be able to return the profit from in the form of rental money. This means that you can return the money you invested either by renting the estate, or selling it in the future – especially if the cost of it increases over time.

At the moment, a lot of people are interested in buying a property in Latvia. However, a lot of them are not completely sure about whether or not they should actually do this or not. Hence, to remove all confusion regarding purchasing a home in this lovely country, let’s take a look at the top 8 reasons why you should do just that:

  1. A Healthier Lifestyle

Source:impakter.com

When someone is looking for a house, one of their major concerns is whether or not it offers a healthy lifestyle. As you know, people generally choose places where they can see a healthy lifestyle being naturally maintained. In Latvia, the lifestyle that you can gain there is exceptional. How you might be wondering?

Well, firstly, the weather and the living conditions are quite suitable for a healthy life. This is mostly because this amazing place has more than 70 percent of forests, hence, the air will be clear, fresh, and good. Additionally, the sea is nearby, which means that you can gain health benefits from it as well.

  1. Versatility in The Spoken Languages

In the past, this country was once part of the Soviet Union. Then it became a part of the Russian Union. And, because of this, most of the population there speak Latvian, as well as the Russian language. English is also the third most spoken language there. What does this mean? Well, it means that if you choose to purchase an estate there, you won’t come across major communication problems, especially since you might know one of the three aforementioned languages.

  1. Rich European Cultural Values

Latvia is a European country and a member of the European Union, which means that it is a place that offers various benefits to its citizens. The citizens can enjoy state-of-the-art facilities, and it is also rich in sports such as tennis, ice hockey, basketball, as well as sailing sports.

Source:lv100.lv

Besides, it is also rich in historical values since some monuments reflect the history of the nation and events that happened there. If you are looking for a place that is culturally and historically rich, choosing to purchase a home in Latvia might be the correct and best decision you could ever make.

  1. The Residence Permit in The EU is Guaranteed

If you simply want to buy a house in Europe, then buying one in Latvia might be your best choice. This is because of the laws in the country that state that any person who invests in real estate there will get a residence permit for 5 years. You should know that this does not only apply to the investor but, his or her family members as well.

The best part about it is that there are no strict rules for staying there often and for an extended period of time since you can go out of the country for up to three months. Additionally, you’ll be able to move freely in the other Schengen countries, hence, you’ll be able to visit the rest of Europe as well.

  1. Perfect For Student

Source:spinthewindrose.com

Latvia has gained popularity in the field of education because most people can get a valued degree there. Besides this, the place is a relatively good place because the overall living and studying costs are lower than for the people studying in, let’s say, the US or the UK. This means that it is a good opportunity for individuals like students to purchase an apartment or home in Latvia.

  1. High-Quality Life at Low Prices

When you compare the living expenses in this place with some other European countries, you might determine that there are various benefits of living in Latvia, including low taxes, a natural environment, a healthy lifestyle, as well as easy options for internationally transferring property tax. This means that you’ll not only be investing in an estate that can bring you to profit later in life but, if you choose to live or stay there, you’ll be able to have a high-quality lifestyle for relatively low prices.

  1. The Geographical Location is Perfect

Yet another reason why you should choose to purchase a house in Latvia is its geographical location. As mentioned earlier, more than 70% of it is covered in forests, hence, the environment is clean. The sea coasts keep the weather moderate and pleasant, and traveling is made easy because there are more than 60 flights heading to Europe every day.

All of these things make the country a good place for investing into. Additionally, the location also makes a very good spot for trading which is important for companies. If you are considering doing business in Latvia, you’ll need to learn and know their business etiquette.

Source:nationsonline.org
  1. Price Depreciation of Estates in The Next Few Years

It is estimated that the prices of real estate will be going down in the next few years. This means that the best time for buying a property in Latvia is in the next few years. The properties are becoming more affordable, which means that even students can afford it, especially since the living costs are relatively low.

Conclusion

As you were able to learn, Latvia is a country that offers almost everything a country can. It has a clean environment, forests, and white sand beaches that make the weather pleasant & attract a lot of tourists during a year. The taxes are low, which means that there are various opportunities for people living there.

Property is also affordable there and is suitable for a lot of foreigners for investing their money into real estate. All these facts make it the best place to purchase a property. If you are interested in seeing more details about buying a house in this amazing country, you can read this ultimate guide here.

How To Buy And Sell A House In The USA

No matter if you want to sell or buy yourself a house there are some regulations and steps in each country that you have to follow. Don’t get us wrong, it is not that hard especially if you are there at the right time, but you can’t sell or find an adequate house overnight unless you are really lucky.

The USA regulations when it comes to buying/selling a house is pretty different comparing to for example principles that are in the UK. For example, in USA real estate agents do much more of work as they represent you as a buyer or a seller for more than one offer. He is also there as your qualified advisor to tell you if he thinks the proposal is to be accepted or declined. Of course, you pay him a reasonable fixed fee for all of this work, but it is worth it.

Now, let’s take a look at some tips on how to buy/sell a house in the USA and what are the steps you go through!

Buying A House In The USA

Source:trulia.com
  1. Finding Your Realtor. As mentioned in the section above, you will need a good realtor to go trouble-free true the whole house buying process. And you should look for a NAR licensed agent as most of the states in the USA demand that. It is in no way hard to find a proper realtor as there are multiple websites online when the same are represented. Try to look for the few that seem to fill in your criteria, and call them for an interview.

 

  1. Interviewing And Choosing Your Real Estate Agent. Once you have found a few suitable realtors call them over for an interview if they can meet in person, or do it over the telephone. Try to get an answer about the percentage of satisfied clients for the past few years, if they are a full-time agent, do they have their own blog or a website, as well as if there is a way they can see the testimonies of the completed transactions. After you have decided, be sure to sign a buyer’s agency agreement by which the realtor owes you trust, honesty and you owe him disclosure.
Source:redfin.com

 

  1. Selecting A Mortgage Lender. When buying a house, you will probably need to lend some money, and that is what mortgage lenders are for. Find few either online or by recommendations and visit them in order to get valuable info. Ask them about the down payment, what would the monthly payments be as well as what are the available loan programs and fixed interests. Once you find one that suits you the most, make a deal with them.

 

  1. Finding The Right Home. After this, you are free to go along with your realtor and find the right home suitable just for you. Specify your demands and look through all the online offerings as well as the ones that are a paper. Once you find a home, it is time to negotiate a deal through your realtor and be sure to invite an inspection before closing off anything. This way you will know if everything is fine with the house as is, and it doesn’t ask for any hidden expenses.

 

  1. Closing Of The Deal. Once you have agreed on the deal, you sign and ratify a contract and pay a deposit. This money stays in the Trust fund before you close of the deal when it gets back to you. Through closing the deal, you are getting the rights of the ownership, and the funds are transferred to the seller. Methods vary from state to state, so your realtor will be informing you on the right ones.

Selling A House In The USA

Source:classifieds.usatoday.com
  1. Decide If It Is The Right Time. So you want to earn money quickly, and maybe move to a smaller house? But, before taking any steps to be sure to know if it would maybe be more worth it to rent it for now instead of selling. Once you inspected and researched the real estate market condition, you are free to continue.

 

  1. Call An Inspection And Hire A Realtor. Before publishing your house, be sure to check if everything is fine with it and if not fix it. This way you will get more money, and the buyers are gonna be left trouble-free, which they surely appreciate. Along with that hiring, a licensed realtor is a good idea, as he will make publishing and selling the house much easier.

 

  1. Publishing The House Offer. Decide on a reasonable price and publish your offer on multiple websites and papers using your realtor as a consultant. Very soon after, you can expect interested buyers, and that’s where negotiating Websites like Dany Buys Houses offer really good deals in a short period of time. Check that out!

 

  1. Closing The Deal. Once you met the buyer and you have negotiated through your realtor, ratify a contract and finally close of the deal, transferring the ownership and receiving the much-needed funds!

Summary

As you can see, it takes just a bit of time and research, and you are good to go whether it’s you want to acquire or sell a house. Believe us, getting a good realtor will save you from a lot of troubles, and the fees you pay him are nothing comparing to the benefits of his service!