10 Advices For Spanish Property Buyers



In fact, there could be much more than 10 recommendations. When we chose following advices for the article, we wanted to show the range of questions a potential buyer should investigate “before”, not “after”. Quality of life and rest in Spain depend on this directly.

Don’t choose an ideal object, choose an ideal region

Firstly you should decide geographic question and only then investigate concrete offers and consider prices. Spain is a very large country and quality of life here is mostly determined by geography.

You can find a wonderful house at a very good price, but already after first week of living there you will discover that you made a mistake choosing location. Region may turn to be too hot for you, and it will be better for you to buy a house closer to France. Or to the contrary, you were going to warm yourself in a Spanish house in winter, and the weather is not so warm in this region.

There’re social differences between regions and their “popularity” varies among foreign tourists. It would be better for you to travel along the seashore by yourself and understand the differences.

However, if such variant is unreal for most people, you need to study regional specificity at least in absentia. And, after you choose an appropriate region, investigate its geography during familiarization trip.

Treat some companies’ advertising more careful

According to a leader of a company, selling property in Spain, he saw pictures of Caribbean sceneries in “Spanish” booklets, made by his competitors, by himself. Of course, heavenly places with striking mountain views and palms exist both in Valencia and Andalusia.

However, companies, working with not very attractive places, for example, former farming zones, are inclined to resort to various devices. And after you are seduced with Haiti or Dominican Republic views, you arrive at a place and find a plain with poor verdure. Disappointment, wasted time – and you are ready to leave the country for ever.

Learn who you are going to sign a contract with

Your partner can be just a representative of a Spanish company, who does not build or own anything, and pass a client directly to a builder or intermediary. It’s good: an agent can finish his part of a deal quite honestly and professionally, inform you about good contacts for you and problem moments.

However, there’re such intermediaries, who, after receiving their commission, won’t wish to solve your further problems. In this case you need to study everything about Spanish builders’ reputation by yourself: how long they have been working, how many objects they have built.

Second variant – you sign a contract directly with a company, which builds property in Spain. In this case you need to study building documents.

It may happen that you meet a company while having rest at a Spanish resort. A builder can show you his hotels and villas, he supposedly built, but without showing you any documents, in this case you should not believe him.

Choose an agency that will help you adapting to a new place

These are companies which main specialization is Spain. If you decided to buy property, consult company’s bosses, as usual officials, as a rule, know much fewer details. Spain is a second motherland for leaders , they can own villas there themselves, have Spanish stay permit, came through all problems by themselves, and, in general, represent a fount of practical information, which you won’t learn though magazines or Internet.

Ask about infrastructure near housing estate

Because of big percent of property bought by foreigners with merely investment purposes, after receiving keys, you can find out that you live in a huge building almost on your own. And when season comes to an end, all shops and restaurants just close. Besides, between large tourist centers on Mediterranean coast, there’re areas, where tourism just starts developing, and where you can see only almond and orange groves many miles around, instead of Disneyland, aqua parks and museums. So it’s better buying property in lived-in areas.

It’s also useful to interest about plans of the district’s development from other point of view: if they build a high-quality object nearby, this will enhance the prestige of your address and, as a result, price for property will rise even more.

Remember that norms of land development can differ a lot in different urbanizations

So if you do not like offered restrictions in villa’s height, you can search for villages with more liberal rules – they exist. But it’s not recommended to violate norms. There were cases when people bought a site and, wishing to provide themselves with the best view of the sea, raised ground level. And then they built a house with maximum permitted height. Such tricks won’t help in Spain.

If you are interested in VIP-toss most of all, search for it near prestigious yacht-clubs

There’re two yacht-clubs on Mediterranean coast of Spain. Firstly, this is Puerto Banus on Costa del Sol. Secondly, this is Luis Campomanes yacht-club on Costa Blanca.

Don’t ignore mortgage banks’ offers

Even if you have enough cash to pay for construction of a stylish villa or decent apartment. As mortgage will allow you becoming an owner of 2-3 analogous objects at a same price.

Many people, who invested their money in resort property 2-3 years ago, are now led into temptation to sell it at a higher price and invest money again.

If you are not ready to re-sell and need property for your own purposes, then it’s still better using credit. You can live in one apartment and lease it for a part of a year, and lease a second one in full. As a result, income from lease covers both debt and percents completely.

Remember that you can invest money not only in housing, but also commercial lodgments

Capitals are even more interesting here, than resorts, in particular, Barcelona. Investments in buildings, requiring reconstruction, are most popular here, and then go commercial and office lodgments.

Investments in land are still popular: in big cities these are industrial project and condominium lots. In resorts – land purchase to develop urbanizations.

Do not postpone search for a house until next beach season

Not only property in Spain rises in price quite quickly, and apartment or house can go 20% up for this period. There’s also another factor, such as lack of land. In most well-equipped zones, especially where mountains are close to the sea, there’re few free lots already. It will be impossible to buy a newly-erected building, especially with good view of the sea, in 3-4 years already.



Source by Yana Mikheeva

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