Alliance of International Property Owners

Menu

  • Home
  • Buyers
    • Freehold/Leasehold
    • Timeshare
    • Benefits of buying through an AIPP property professional
    • Overseas Mortgage Information
    • Currency Transfers
    • Financial Planning
    • Search the AIPP Member Directory
    • Downloads
  • Owners
    • Freehold/Leasehold
    • Timeshare
    • Downloads
    • Advice, information and offers from our professional partners
  • Timeshare
    • Timeshare – a short introduction
    • Buying a Timeshare
    • Owning a Timeshare
    • Exit your Timeshare
    • Buyer Beware
    • EUROC, RDO and The Timeshare Taskforce
  • Blog
  • Free Legal Advice for Buyers and Owners
  • Search Properties
  • Sign up
  • Search

The Alliance of International Property Owners

Home|Blog|Having Your Cake and Eating It Too: How to Make Money From Your Home Abroad

Search the Alliance for Information & Inspiration

Explore our site to find answers, offers, ideas and news

Close

Buy right, Own well

Association of International Property Professionals (AIPP)
AIPP is the trade body improving standards for buyers and is the key supporter of the AIPO; providing a safer environment for owners and buyers of a foreign property.

Search for an AIPP Member Search for Properties

Search the AIPP member directory with confidence for a member to assist your property purchase, or browse AIPP member agent properties for sale. Please note: The service to browse properties for sale is hosted in partnership with the Property Share Network and may not represent all AIPP member agents.

Close

Download your guide

  • Download your free guide here (We’ll also send an email with a link to your guide so that you can read it anytime)
  • AIPO recognise that your privacy is important and are committed to protecting it. We therefore comply with the General Data Protection Regulations (GDPR). For further information about how we store and use your personal data, please read our privacy policy.
  • This field is for validation purposes and should be left unchanged.
Close

Having Your Cake and Eating It Too: How to Make Money From Your Home Abroad

Above: Hummingbird Hall

There was a time when house-purchasers believed that the only way that they could generate money from their home was when it was sold or re-mortgaged. Luckily, this perception is changing and a growing contingent of suave home-buyers are considering how much money they can generate from a property, before deciding to buy it.

AIPP members and Luxury Property Specialists, Beatrice Rose and Associates, believe that a house is not a home unless you can make income from it. Although AirBnB and vacation rental typically spring to mind – they specialise in helping purchasers identify diverse ways that they can generate money from their international property purchase as they explain below…

Music video and film shoots

There are actually a myriad of ways that your overseas property can Take for example the currently-for-sale villa Hummingbird Hall in Jamaica, featured in the youtube link below.  Although it is a luxury residence and vacation home – which can earn up to US$17,000 per week – it also generates income for the owners as a luxury, all-inclusive destination wedding venue charging between US$10,000 and US$30,000 per wedding! And its not just weddings, Hummingbird Hall has been used to host music video, photography & film shoots and group retreats from US$1,000 per day.

Whilst the owners also enjoy the property with their friends and family for vacations; the property completely pays for itself (and earns far more besides). This model is one that suave owners of property overseas, particularly in the luxury segment, would be sensible to follow.

Lifestyle business

Indeed, using a property to make money has many benefits, particularly for owners of second homes overseas. For one, it ensures that the property is used year round. It also ensures that the property fully pays for itself and offsets expenses such as Home Owner Association fees, land taxes, staff, up-keep and repairs. An income-generating property can also provide a lifestyle business, supplement a pension and add to the overall saleability of a home when it comes time to divest.

So what to look for when purchasing a home abroad with a view to making profit from it?

If marketing the property as a destination wedding venue is on the cards, look for properties in ultra-exclusive locations of outstanding natural beauty that are accessible via road and air. This means that properties in established resorts, with sizeable gardens or plots, incredible views, large decks and terraces and with interesting features such as infinity pools, gazebos and grand staircases certainly fit the bill.

Farming and glamping

If buying a town-house or city property, look for a property that has a parking space that can be rented out to commuters year round. Looking for a country home with land? Think about the possibility of renting land to farmers or as a glamping site. Purchasing a property with a barn or garage? Think about renting unused space to owners of boats, RVs or motorbikes.

Purchasing a home with an incredible gym, pool or garden? Think about renting the space to personal trainers or swimming teachers. Have an incredible library? Consider renting the space to tutors or students. Thinking of purchasing a luxury property with a basement or wine cellar? Consider the possibilities of converting it into a climatically controlled art vault and charging to store the high-end artwork of others.

Of course, permissions might need to be granted from a mortgage company, local authority, insurance company and more; but the options of generating money from a property are plentiful. Sophisticated buyers are well-advised to keep these options in mind when purchasing a property abroad.

Beatrice Rose and Associates is a boutique international real estate agency based in Covent Garden, London, that specialises in selling luxury residences worldwide to international buyers. Contact them via email info@beatrice-rose.com or call on + 44 (0) 203 868 8258 (UK local rate) or  +44 (0) 7852 487 786

  • Choose your agent wisely. AIPP (Association of International Property Professionals) members have all signed up to a strict code of conduct and are covered by the UK Property Ombudsman which makes for a much safer buying environment. You can search their properties by clicking the ‘Search Property‘ link here or at the top of the page.

     

  • Know your budget before you start your search. The Alliance recommends using a specialist overseas mortgage broker such as AIPP member Simon Conn who can assess your current situation and advise on what kind of mortgage would be available to you.

    Free Mortgage Assessment

  • Lock in your exchange rate. With the markets a little volatile, it’s wise to protect your budget. By choosing a currency company who can offer you the best rate and fixing it with a forward contract you need not worry about political or economic factors influencing your purchase power. The Alliance works with Clear Currency. Hear what they have to say:

    Clear Currency

  • Engage the services of a fully independent lawyer. Your lawyer should work on behalf of YOU and YOU only – not the seller or developer or agent. You can search for an AIPP member lawyer here.

  • Seek advice on your tax, pension and wealth management requirements. By speaking with a specialist you can ensure your financial affairs are in the best order to limit your liabilities and future proof your income. The Alliance recommends speaking with international financial advisers Blevins Franks.

    Blevins Franks

  • Speak to those who have gone before you. Join the Alliance of International Property Owners and gain access to our private members only forum where you can search and connect with members with properties in Spain and other areas you wish to know more about (and right now it’s free to join!)

    Join now

Related BLOG

View all
  • AIPP Member News, Buying, Ex-Pat, Finances, Legal, Owning, Selling|14 Jan 2021

    Do I need a solicitor to help me sell abroad?

    A lawyer acting for you on the sale will protect your interests, they will also know exactly what to do if there are any problems during the transaction.

    Read more
  • AIPP Member News, Buying, Latest News, Legal|18 Nov 2020

    How the Power of Attorney could protect your overseas property purchase

    Overseas property expert, Simon Conn, has reached out to his peers to comment on the importance of a Power of Attorney when protecting property and assets abroad, especially with Covid-19 ever present

    Read more

Download our free buyers guides

View All
  • Guide to Property Buying in Italy

    Fancy a pad in Italy? The Alliance asked experts AIPP to bring you answers to the most asked questions - and to share their top tips about buying a home abroad

    Download guide
  • How to buy overseas property safely

    Learn how to buy overseas property safely with the latest edition of the AIPP Buying Guide

    Download guide
  • Sign up to our monthly newsletter and receive a curation of our popular blogs, legal articles, latest industry and political news affecting owners of a property overseas PLUS details of any new offers or partners we have signed up - unsubscribe any time

Social feed

More from us

  • Buyers
    • Freehold/Leasehold
    • Timeshare
  • Owners
    • Freehold/Leasehold
    • Timeshare
  • Free Legal Advice
    • Buyers and Owners Legal Advice Enquiry Form
    • Downloadable Guides
  • About us
    • Advice, information and offers from our professional partners

Are you a property professional interested in joining AIPP?

Email: enquiries@aipp.org.uk
Web: www.aipp.org.uk

Alliance of International Property Owners Ltd
Email: info@aipo.org.uk

AIPO is registered at Companies House No. 10380594
AIPO is registered with the ICO - Information Commissioners Office No. ZA334523

  • Our Policies
  • Sitemap
Site by Valiant
This site uses cookies: Find out more.