The Expat Teacher's Property Guide
By Jim Rogers
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With the growing number of expatriate teachers, the time is long overdue for a succinct guide to help international educators find and purchase their own home. With sections on main residences, holiday homes and income property, author Jim Rogers offers solid guidance on property investing from the unique perspective of the global citizen.
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The Expat Teacher's Property Guide - Jim Rogers
Copyright © 2017 Jim Rogers
The Expat Teacher’s Property Guide
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All rights reserved. Including the right of reproduction in whole or in part in any form.
Inquiries should be addressed to info(at)expatteachernetwork.com
http://expatteachernetwork.com/contact.html
License Notes
This book is licensed for your personal enjoyment only. This book may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you are reading this book and did not purchase it, or it was not purchased for your use only, then please return to info(at)expatteachernetwork.com and purchase your own copy. Thank you for respecting the hard work of this author.
Disclaimer
Even though the Author always strives for accuracy on all information in this work, the Author wishes to make it clear:
1) Due to constantly changing information, contacts, events, numbers, prices, etc., and our inability to monitor them on a day to day basis, there may be inaccurate or out-of-date information, links, etc., on any of these pages at any time.
The author claims no responsibility whatsoever as to how possible misinformation presented in any of our publications, websites or webpages may adversely affect you, your lifestyle, business, travel or educational plans in any way.
2) The author makes no warranties or representations of any kind concerning the accuracy, suitability or safety of the information contained herein or any linked site for any purpose. Materials provided are intended for informational purposes only.
In no event, shall the author, employees, agents or anyone else who has been involved in the creation, production, or delivery of these pages, be liable for any direct, incidental, or consequential damages resulting from the use of this work, site or any linked site.
The reader agrees to indemnify and hold the author from and against all claims and expenses, including attorneys' fees, arising out of the use of the book.
Table of Contents:
Foreword
Introduction
Should I invest in property?
What type of property should I buy?
Main Residence Property.
Holiday Homes.
Income Property.
Making your personal retirement plan.
Viewing properties and pre-purchase checks.
Closing the deal.
Post-purchase management and upkeep.
Final Thoughts.
Foreword:
I first moved overseas more than 20 years ago. I was young and just beginning my career in education. I lived in a 3-bedroom, 2-bathroom apartment with two roommates mainly because the school I taught at, a rich local kid
school, didn’t pay well enough for any of us to afford to live alone.[1] Throughout my career, I have travelled around the world, occasionally stopping to teach and work and live. Finally, after bouncing around from Southeast Asia to Latin America and then back to Canada, I finally landed in Central Europe, working and living near Frankfurt, Germany.
I lived in a rental apartment for many years, figuring that I would eventually be able to save enough to buy a piece of property when I retired, or I would continue to pay rent. Then in 2009, it dawned on me, that no matter what, I was going to have to pay to put a roof over my head. This could be either in rent, which would earn income and build equity for someone else, or I could go ahead and buy property now and build the equity myself.
Making a long story somewhat shorter, I ended up buying two apartments in my host country (Germany), one of which is my main residence and the other is my holiday home and will be my summer residence when I retire.
I have watched many colleagues over the years buy and sell property in various countries with various goals in mind and with varying degrees of financial success. Through the years, I have collected a wealth of information, spent countless hours researching and even made some mistakes when it comes to including property as part of my financial plan.
My school is currently experiencing a generational shift. Many colleagues who are aged 28-35 are moving in and staying while older colleagues retire. This may be the trend at your school as well, or you may be experiencing a completely different trend.
Because of my experiences and my ability in my host country’s language (I learned to speak German long before I arrived in Germany) I found myself being regularly solicited for advice and help with financial matters, and particularly with property purchases and rentals.
Others may disagree with the conclusions that are drawn in this guide. Others may have different experiences. I make no claim to know everything or to suggest that my experience applies to everyone in all situations. What I can say definitively is this guide is the sum of my experiences and it could be that your experience is/was/will be the same.
Introduction:
International or expat
teachers come from all over the world. When I first hit upon the idea to write this guide, I decided I needed some basic information about my target audience before I began. So, I contacted my Senior Associate at Search Associates, Harry Deelman, and asked him a couple of key questions. Who are expat teachers? Where do they mostly come from, where do they mostly retire to? I realized, even after more than two decades in international teaching and living as an expat, I didn’t know the answers.
Harry’s answers were enlightening. The largest single group of expat teachers are, not surprisingly, Americans. However, the Americans are by no means the majority – after all, I’m not. I then asked Harry where expat teachers primarily retire? Are they more inclined to want to sun themselves on the beaches of Thailand or hit the slopes of the Swiss Alps? He informed me in no uncertain terms, international teachers stay international. They spend their retirement living internationally, just as they do during their working lives. So, are there any patterns to be ascertained? After probing Harry’s experience and doing some additional research on my own, I learned what I could say definitively. Expat teachers seem to follow one of three patterns: some retire in the host country, where their school is located, others return to their home country, still more retire to a third country and others live out their golden years in some combination of the aforementioned places.
Regardless of the diversity amongst those of us who have chosen to make international education our career, there are two simple truths that