When it comes to buying a vacation home, most of the home buyers check out with the hottest tourist destinations of the world. But not all the tourist hot spots are fit for real estate investment. But Caribbean surely does not fall in that category—a Caribbean real estate investment is as good as a Caribbean holiday. However, for the best value for your investment, you should prefer Costa Rica over her neighbors. The country is fast developing and its real estate, especially the tourism related real estate is swelling. That Costa Rica is a retirement heaven for the baby boomers is not altogether a marketing hype—the country’s real estate, especially the Costa Rica condos truly help your investment grow bigger than what they could do back home.True those Costa Rica condos are cheaper than the comparable properties in Florida, California or New work. It is true that prices are skyrocketing due to the excessive demands. It is also true that a little moving around is sure to help you locate your dream Costa Rica real estate. But at the same time the reality is: it requires a good deal of investigation on your part to make a success of your condo purchase in Costa Rica. There are certain areas that require extra screening on your part prior to purchase and here is your checklist.1. Roping on to the right agentIt sounds cynical, but let’s start with this: never trust the smart real estate agents. Recommendations give a good head start in this direction. A reliable real estate agent will give you the right information about the value of the property, while the scrupulous one will tend to push overpriced properties.2. Go through the land recordsWhen you are exploring the market for Costa Rica condos, make sure the project does not fall within the boundaries of restricted zones or is a part of national park. Take extra caution in this respect, especially when you are mulling over the projects near the province of Dominical. 3. Consider the practical aspectsA property in remote, isolated place sounds too romantic, but it can be an unpractical decision of the worst kind. So far as the under construction Costa Rica condos are concerned, make sure that the developer has got the provisions for all basic amenities as electricity and water supply, before you make the down payment. It might create an added expenditure for you if you do not verify this point at the very beginning.4. NeighborhoodNeighborhood should be your prime concern when you are buying property in a foreign land. The local Costa Ricans are a friendly, welcoming lot. Still make sure to invest in Costa Rica condos that house large expatriate community on whom you can lean back at the times of needs. For the same reason, avoid the local neighborhoods, where the normal way of life may not be exactly up to your expectations or your tolerance level. For that matter, also check the crime rate in the area. As an example, there are pockets in the big Costa Rica cities like San Jose, where it will be extremely difficult for foreigners to live.  5. Make sure of the qualityWhen you are buying Costa Rica condos, hire an engineer to check out the constructional aspects of the building for you. Also take notice of such aspects as sewage system, plumbing, wiring and roof for leaks.Buying properties in foreign land comes with its pitfalls. But a good deal of research and a good broker can help you avoid them and make your overseas investment a success.

Britons who are considering buying a holiday home abroad have been advised to consider the Portuguese market.
Portugal recommended to British buyers The country was praised by Country Life for offering a variety of leisure attractions and a slower, more relaxed pace of life.
Portugal was also described as a charming destination that was very popular with tourists from the UK, partly because it offered hot and sunny weather all year round.
Country Life stated that this had led to it becoming a hotspot for overseas property buyers, including expatriates and holiday home owners.
According to figures cited by the magazine, Portugal is now home to more than 38,00 British expats.
“Portugal has certainly been in the top five since those emigrating discovered the joys of one of the longest seasons in the Mediterranean,” it commented.
According to official figures, a record number of British citizens set up home overseas during 2006.
Portugal could be a good destination for overseas property buyers to consider, experts have advised.
Investors According to the SaveBorrowSpend website, the Silver Coast region is proving to be especially popular with foreign investors, as it offers a number of bargains.
The extent of its affordability was highlighted when the portal said a nine-bedroom house located in the area could be snapped up for just £160,000.
Furthermore, it stated that apartments on the Silver Coast – an area well-known for its attractive beaches – would set people back about £40,000.
SaveBorrowSpend added: “The downside is you will need to brush up on your Portuguese as hardly anyone in this region speaks English.”
However, the portal said this meant the area was likely to be “relatively unspoilt” and appealing to people who enjoyed “breaking new ground”.
This comes after financial services company Baydonhill predicted that Portugal would be one of the most popular markets for British investors this year.
People in Ireland are acting quickly in order to avoid the possibility of missing out on cheap trips abroad next summer.
Irish plan holidays in the sun Budget Travel stated that there had been unprecedented demand for last-minute holidays during summer 2007 because of the poor weather.
However, demand was so high that it outstripped the available supply, which resulted in many being forced to brave the wet conditions in Ireland.
This has led to many acting quickly this year instead of facing the possibility of missing out once again.
According to Budget Travel’s head of marketing Clem Walshe, hot and sunny locations such as Portugal are proving to be very popular.
He told the Irish Independent: “People definitely got caught out last summer – a lot of people couldn’t get the holiday they wanted.”
Mr Walshe added that Spain was also attracting many Irish visitors, in particular the Costa del Sol.
Last week, the Limerick Post quoted a local travel agent who said that the number of people heading abroad for the festive season was now higher than ever.
Tony Brazil of Limerick Travel said that many of these were heading to places such as Spain and Portugal in order to stay in their holiday homes.
Spending Christmas overseas is becoming increasingly common in Ireland, it has been reported.
Irish holiday home owners head abroad The Limerick Post quoted a local travel agent who said that the number of people heading abroad for the festive season was now higher than ever.
Tony Brazil of Limerick Travel stated that that Spain and Portugal were of the most popular destinations for a number of reasons, such as their hot weather and good transport links with Ireland.
However, the fact that many people owned holiday homes in these countries was cited as another factor behind their appeal at this time of year.
Mr Brazil commented: “There are a huge number of people now who own accommodation abroad and are spending the holidays in places like Malaga or Portugal.”
He added that all the extra flights provided by low-cost-carriers had been proving to be very popular with Irish leisure travelers.
According to the Association of British Travel Agents, a record number of people from the UK are also set to spend the festive season abroad this year.

Are you currently thinking about buying your first house? Real estate is a fantastic investment. Don’t let the media hype fool you: low interest rates combined with reduced home prices make this an excellent economic environment for first-time home buyers. Here are a few tips to help you along the way.
The first and most important thing to remember is to buy only as much house as you can afford. Just because a lot of young people in your area are buying gigantic homes with acres of property and four car garages doesn’t necessarily mean they could afford their mortgages. All you have to do is look at the foreclosures situation to see examples of people who purchased more than they should have.
Adjustable rate mortgages, or ARMs, have been exceedingly popular in the last ten years. When the housing market was on fire a few years ago, banks were giving out loans to practically anyone, regardless of their income or credit.
ARMs made it possible for people to buy enormous homes even though they didn’t make a lot of money because they start out with low payments and then balloon as time passes. This is a big contributing factor to the current housing crisis. More and more people who had adjustable rate mortgage loans are defaulting as their homes go into foreclosure. I tell you this not to discourage you from looking at ARMS, but to help you understand the risks. In fact, FHA offers a great ARM that have 1% annual caps and a lifetime cap of 5%. This will beat any conventional ARM offered.
Because the banks are feeling the crunch, credit standards are being raised. If you are uncertain of your credit score, it is wise to check online with a company like Equifax, TransUnion or Experian to find out where you stand before you apply for a home loan. Clear up any financial loose ends and get your score looking the best it can before you start the home loan process. You’ll get a better interest rate and have more leverage with lenders. It may even allow you to get 100% financing. Yes, you can still obtain 100% financing and you don’t have to be a veteran.
As far as your down payment is concerned, you may want to come up with as much money as you possibly can. Why, you ask? PMI, or principal mortgage insurance, will add to your monthly payment until you’ve paid for twenty percent of your home. Even if you can’t get that much money together, and most first time home buyers simply can’t, try your best if you want to avoid PMI. As an added bonus, a nice down payment improves your chances of getting your loan in the first place.The good news is that your PMI might be deductible. You have to have an adjusted gross income of under 100K to deduct it all otherwise it will phase out when it reaches 110K.
You will pay half a percent to one and half percent of your loan value every year until it reaches approximately 75-80% of either the initial loan balance or of the market value. The rules are different for FHA and conventional loans and vary slightly. Generally,lenders won’t tell you that you’re eligible to get your PMI dropped from your payment. So, be sure to keep tabs on your remaining loan balance and contact your lender to get the PMI dropped. It will save you quite a bit of money in the long run.
Lastly, first-time home buyers will feel much better about purchasing their new home if they learn about the closing process and closing costs. We teach a first time buyer class where we cover this and much more. We recommend you seek out a similar class in your area.
The home buying process can be exhilarating and overwhelming, but the more knowledge first-time home buyers have on their side, the better off they are. Keep on learning and happy home buying! You will love your new home, and it will be one of the best investments you’ll ever make.