Life is good for many people living abroad.  The benefits include a lower cost of living, more affordable real estate, a sense of freedom, the experience of a new culture and warm weather. Moving abroad can also be an opportunity for reinvention and a way to escape from the drudgery of 9-5 living.

Still, living overseas isn’t for everyone.   If US-style convenience, a first world infrastructure everywhere you go, access to the food products you are used to at home and a fast paced life are important for you, then life in a developing country may not be the right choice.  And talking to American expatriates in Central America we found that missing family and friends in the US is the most common downside to living abroad.

But as with most things, it’s what you make of it.  For example:

• If you decide to move to a Spanish speaking country, will you put in the effort to learn a new language?
• How willing are you to embrace change?
• Are you inspired to learn about new cultures?
• Are you looking for adventure?
• Are you comfortable making new friends?

If you answered yes to most of these questions, you may be ready to make a move overseas.

Before you jump in, remember to get to know a place more than in a passing fashion.   Visit during the off-season as well as during peak times to make sure you still like the location and that you can access the local services that you need.

Then, arming yourself with objective market information will help you make the right investment choices.   Market comps will help you determine fair value, enabling you to negotiate better deals with sellers and agents to leverage the current buyer’s market.

Do you research, take your time, get all your questions answered, and you’ll be right on track.