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Rent Overseas Tips From A Pro

Kathleen Peddicord by Kathleen Peddicord
Apr 27, 2009
in Retirement/Living
0
Buy Or Rent Overseas is a decision ultimately you have to take, but we always go for rent first, generally.
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Rent before you buy…we advise you often.

That is to say, when relocating abroad, give yourself a chance to try a new place on for size. Rent short-term (say, 6 to 12 months, preferably through the least-agreeable season) before committing to a real estate purchase.

In fact, depending on your circumstances, you may want to rent indefinitely. Perpetual traveler friends Paul and Vicki Terhorst are also perpetual renters. Paul and Vicki have been retired overseas for more than 20 years. They move around as their wanderlust inspires them…and, in each new place, they rent their accommodation

Meaning they face the challenge of finding suitable rental digs two or three times a year in cities across the globe.

“Paul and I prefer to begin our search after we have arrived at our city of choice,” Vicki explains. “However, before we arrive, we gather as much information as we can about rentals through friends, travel guides, and the Internet.

“We check into a moderately priced hotel, then we head out to the neighborhoods that sounded appealing to us in our research. We check bulletin boards in grocery stores, cafes, English-language churches, and laundromats. We read the local papers and chat with anyone who might have a lead. In small towns, we visit the local tourist office.

“We keep an open mind while, at the same time, remembering what’s important to us.

“In a tropical climate, like Chiang Mai, Thailand, we want a place with an outdoor sitting area. In a big city, like Paris, we want to be close to public transportation and grocery shopping. In a small town, such as Chapala, Mexico, or Boquete, Panama, we want to be in the center of things, living among and like the middle-class locals.

“We always choose places where we can walk to shopping, restaurants, libraries, bus stops, etc.

“We deal only with owners. When a deposit is required, we amortize it over the number of months we intend to rent to give us what could be the real cost of the place if our deposit isn’t returned.

“When eating out is cheap (as in Southeast Asia), we live without a kitchen. Sometimes we decide that our best bet is to stay in a hostel with kitchen privileges, a guesthouse, or a simple apart-hotel rather, than a furnished apartment.

“We often find what we need in a few days. We move in. I set up my nightstand and make a cup of coffee, even if it’s instant with an immersion heater…as long as it’s in my own cup. I sit down, savor the coffee, look out the window at my new view, and relish the moment. I’m home.”

Kathleen Peddicord

 

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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