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Guam is a small pacific island - a territory of the US. Its military base is extremely important and a dominant feature of island life. The housing market in Guam provides opportunities for buying a house overseas. The main interest from overseas investors is connected through the military or through tourism. The capital of Guam is Agana.
Guam is a very interesting place to visit for a holiday - and it's always a good idea to go on holiday somewhere first to see if you like the place. It's much cheaper than buying a house, and can help preventing problematic mistakes. The first step in buying a property abroad is to do lots of homework - narrow down the region or country where you want to buy, work out your budget, and it's worth buying some books. There are country specific, region specific and general books on buying a house overseas.
It pays to be skeptical at all times - and get a keen eye for spotting whether people or articles are as independent as they may claim.
Ask a ProfessionalThere may be investment prospects in Guam, but it is essential that you seek independent expert professional advice before undertaking any property purchase. There are lots of things to bear in mind, including local laws and regulations, taxes, surveyor's assessments of the building, financial currency exchange, dealing with interbank transfers, volatility of the housing market, etc. etc. In some countries there are various restrictions on foreigners owning land or property, so this needs to be checked out fully. Any property purchase is a major undertaking.
Surge in InterestThe interest in purchasing property abroad has increased at an amazing rate in the past five years, fuelled in the UK by a booming domestic housing market making overseas properties seem good value for money. Also, TV programmes like Channel 4's `A Place in the Sun' have made everyone realise that owning a property abroad is no longer just for the rich and famous. People are interested in purchasing a home overseas for a variety of reasons - enjoyment, investment, a new life, retirement, and more.All links and text on this site have been provided for information purposes - they are not recommendations. |