One question that is often overlooked when purchasing a property in an overseas development is who is going to manage the property once construction has been completed? The developer, as part of his marketing strategy, may decide to manage the development and provide a rental guarantee, in which case, maintenance and management will be taken care of by the developer. If not, then the onus is on the purchaser to find a company that will provide this service.

Investing in property has always been a good bet, but in times of recession it is important to bear in mind that not everywhere is going to go up in value as quickly as before. Choosing the right property in the right location is crucial if you are going to make a good return on your investment. The old adage of location, location location is more true now than it ever was...

Design specifications define what makes a villa or condo luxurious. Developers are fond of using the word luxury. In fact, it is probably the most over used word in the property developers lexicon. Once the land has been purchased - the most expensive part of any property development - the build cost of a villa or condo is fairly standard depending on the size. What makes the big difference in the final cost is the interior finish.

A million dollar home means a million dollar interior finish. Right? Not all finishes turn out the way you think they will when you buy your villa or condo in the sun. Beware of the glossy brochures produced by developers. If you buy off plan you may never get to see the finish depicted by artists in the marketing material, as it usually changes and not always for the better. If you don't like surprises, then only buy completed properties where what you see is what you get.

In good times all sorts of property developers wade into the property market, buy land and construct villas or condos. Often the developers have no experience of developing properties in countries outside their own and can under estimate the difficulties they may encounter. If the developer gets into difficulties and is unable to finish the project the unware purchaser may be caught out having already invested a lot of money in the property. It is essential to do due dilegence before buying and check that the developer has a good track record.

Buying property off plan need not be daunting provided you have done your homework. First do due diligence on the property developer and make sure he has completed similar properties in that country before. This is important and you should not proceed unless you are certain, based on his track record, that he will deliver what he has promised.