When looking for your dream overseas property, whether it is a holiday home or if you plan to emigrate, it can be easy to be swayed by emotional factors rather than hard and fast investment rules. But in today’s economic climate, those looking to buy property in Europe can no longer rely on rising house prices to make up for mistakes made during the home buying process. And with financing harder to come by, buying a property in Nice now requires some serious and careful planning and consideration to make sure that your investment is a worthwhile one.

First you need to do some serious research. Talk to local people and estate agents in the area, and use the internet to your advantage when seeking out information about the state of the local property market. Look at house prices in the area, and consider any construction works or town plans that may affect the value of the property you are hoping to purchase.

When it comes to financing, make sure that any financing arrangements are laid out in a contract and if you can, seek out a ‘cooling-off’ period or opt-out clause so that if the loan is not agreed, you will still be entitled to your deposit back.

The same rules that you would apply to buying a property at home apply when you are buying in Nice. Never agree to a purchase without first having a comprehensive and completely independent valuation carried out. This will help to highlight any problems with the property, boundary issues, and will help you make a more informed decision about the profitability of your investment.

When looking for your dream overseas property, it can be easy for the heart to rule the head. However, you are making a significant investment and this requires proper consideration. You may think that you have found your dream home in Nice, but make sure you check out the area fully before you make a purchase. An idyllic and peaceful spot by day could transform into a noisy and bustling thoroughfare by night.

It can really pay to spend some time in the area you are hoping to purchase in before you go house-hunting. Renting a local property for a month or even staying in a local hotel for a couple of weeks will help you to get to know the area, with all its pros and cons, so that you can make a more informed decision. When looking for a suitable hotel, try travel sites such as Octopus Travel, who have an extensive list of Nice hotels to choose from and their site allows you to search for hotels by areas within the city itself.