Buying A Property In The Gambia As An Investment, Holiday Or Retirement Home? Wondering Where to Turn.. .. And Who To Trust?
Buying a Property in Gambia?
Preparation – The Key Message, Going to look at properties should be the LAST stage in the process, not the first. The process of buying a property – whether for your personal use or as an investment – SHOULD start with thorough preparation. This will save to a lot of wasted time AND money. We STRONGLY recommend that you make contact with us BEFORE you go to look at any property. That way we can deal with all of the key issues (such as those listed below) calmly and clearly, before you get involved in the rush and pressure always associated with buying a specific property anywhere in the world.
Preparation Check List
- Why are you buying the property? Is this for retirement, a holiday home, a holiday home that you want to pay its way or a pure investment. If you are buying a property as an investment, see our Guide to Buying Property as an Investment.
- Which area will suit you best? If this is an investment, where are you likely to make the most money?
- Which type of property is best for you? Villa, apartment, townhouse. This is not always obvious.
- How are you going to pay for the property? Are you going to take out a mortgage? If so, where and for how much? What are you doing to guard against the risk of fluctuating exchange rates?
- How are you going to manage the property? If you want to let the property, who are your target tenants? Who will manage the lettings? How much money will you make?
- Who should be the legal owner of the property? The right choice here can save you £/€/$THOUSANDS, even on an ordinary holiday home. See below for more information
We will be happy to assist you with all of these issues.
Who should own the property?
Getting this question of ownership wrong is probably both the most common and the most expensive mistake people make when buying property overseas. There are many people who could be made the legal owner of the property or, as the case may be, the shareholders in the company that owns the property. The best choice is, often, not obvious.
Getting this wrong can cost you tens of thousands of pounds/euro/dollars of totally unnecessary taxes, during your lifetime and on your death.Most local lawyers will be unable to help you make this decision as it involves an understanding of both the local AND your own legal, tax and inheritance systems.
We will be happy to assist you in making this vital decision.
What are the options?
There are many ways to purchase the property. These include:
- in your own name alone
- in your name and in the name of your co-purchaser(s)
- wholly or partly in your children’s
- names or in the name of somebody
- whom you would like (eventually!) to inherit the property from you
- in the name of a limited company,
- whether English, Gambian or “off-shore”
- via your SIPP/SSAS pension fund
- via an investment fund (REIT, PUT etc)
- via an investment club
- via a trust
We will personally guide you step by step all the way through. With between 20% to 40% average annual property capital appreciation, buying a property in the Gambia is an excellent investment. If you are seriously considering buying a property in the Gambia, all you have to do is contact us. We will be pleased to talk to you and answer all your questions.
If you are not seriously considering buying here yet, but would like some information, you will find general information about the Gambia on this site. You may wish to start here with a brief overview of the problems with Bumsters in Gambia . Unlike an estate agent, we are not going to try to convince you to buy. The Gambia sells itself, once you know about it. Once you are convinced you want to buy here, just telephone us and we will start the search.
Our property finder service offers a professional one-to-one service that takes you through the whole process, from searching hundreds of properties and building plots, talking to estate agents and negotiating prices, to dealing with lawyers, builders, developers, agents and officials
- We work for YOU..not the Property Owner
- Our service costs YOU nothing more than the advertised price of your new property
- We take our payment from Estate Agents commission already added to the cost of a property when a sale is made
- Click here now to get an up to the minute listing of all the best properties in the Gambia, based on your budget