Fri, 18 May 2012
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Here's a short introduction to our buying a house or apartment section for Moscow, from helpful guides on buying and selling to where to find the right agency.'Should I rent or buy a home? ' is one of the most common questions expats ask upon arrival at their new location. The answer depends on several factors, including how long you plan to stay in your new country of residence, the current property market and the cost of an expat mortgage. An expat view on housing in Europe can help guide you to realising what best suits your needs.
Once you have made your decision, you will need to find a suitable house or apartment. Identifying a trustworthy and experienced local estate agent early in the process is advisable.
International mortgages
An expert in international mortgages states that one of the major effects of the credit crunch in Europe has been the willingness of banks to lend affordable mortgages. But property, like other assets, is subject to cycles of growth and decline.
So be sure to research the property market and local interest rates for international mortgages in Moscow. Requirements for international mortgages vary from country to country and articles such as Buying a home in Moscow offer clear and helpful advice on property searching, checking history, purchasing expenses, bank fees, notarisation and more.
Especially if you don’t speak the local language, it is worth seeking professional advice on your expat mortgage details and building permits. You can search for English-speaking mortgage advisors and estate agents in Expatica’s A-Z listings under the Financial & Banking category and also the dozen agencies listed under our Housing category.
Advantages and disadvantages of buying a home
An Expatica housing survey shows that expats across Europe believe the advantages of home ownership include long-term investment, building up capital and the freedom to renovate one's home.
The survey also showed that expats, when taking out mortgages and buying homes, experienced problems such as complicated administrative procedures, high taxes and legal fees, incompetent real estate agents, high prices and a lack of public records for house-price comparison.
New to buying real estate? Learn the top mistakes made by real estate investors to avoid classic or amateur slip ups.
Selling your house
Last, if you are selling and moving on, articles such as ‘How to prepare your house for sale’ can prove invaluable.
Expatica Housing Search
Use Expatica's Housing Search tool to help you find a place to buy or rent at the right price in the right location.
Here’s a list of some of the groups and clubs that you can join while staying in Moscow.
Here's an introduction to our Lifestyle section for Moscow, from dating in the age of social media to shopping and gardening.
Here's a brief guide to Getting Started in Moscow, from where to go for visa and banking info to handling Russian business culture and managing a Moscow culture shock.
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