Buying A House In Spain
If you have been sitting at home watching the TV about owning a property abroad as a holiday home or maybe to live, chances are Spain would have been one of you considerations. It is cheaper to live in Spain than many North European countries and is on par with Florida. Then when you consider that some world authorities have labeled certain parts of Spain as one of the healthiest places to live in the world, there is no doubt why more and more of us are buying property there. However many make decisions before they have visited the area and really understood what it is about to live or invest in another country.
First of all, property is not as cheap as it was, it is still cheaper than probably the house you are living in now, but the unbelievable bargains have pretty much gone. As the developments are growing and growing, getting a property near a beach is also becoming harder unless you are prepared to move where little foreigners are, say in a small village. This sounds romantic, but often the realities of not having a corner shop, or a bar or restaurant to visit without taking the car, can take some of the dream away. If you visit Spain for the first time purely to consider buying a house, you may be surprised how built up it is and unromantic some of the property can be, especially if this has been on an inspection trip. So my first bit of advice is to fly out there first and not on an inspection trip, for no other reason to get to know the area and the culture. In fact once may not be enough. Then only when you know the area, have an idea of what property and prices may be in the area, sign up to an inspection trip, presuming you are buying new of course.
If you are buying a used property, do not do this without advice. For example many in Spain do not get a structural survey on the property, they assume what they see is what they get. I have heard stories of property been bought, just to find out they were originally a barn then converted, which do not have any substantial foundations. You also need to be aware of the controversial Land Grab issue in Valencia. Where the local councils have decided to develop the area around a house, the house owner has had to pay the council for this privilege and loose land in the process. Straight away a dream villa is in the middle of a housing estate and paid thousands for the privilege. You will find that most new properties, which are fully developed, should escape this local law, but please check first.
My point is not to put you off Spain, but to fully understand what issues can go wrong by being impulsive. There are however many thousands of ex pats now living in Spain and say it is the best thing they have ever done, and I will be joining them soon. The next question is to ask yourself, do I want to rent this property out to help with the mortgage or only use it exclusively. This can make a big difference about where this property should be. Having your dream property many miles from anywhere will not attract potential clients. The proximity to the airport, the beach and golf courses are all considerations. The aim of renting property out is to have you clients come back again and again, especially if its for the annual golf trip or to visit friends. So to summarise, take your time with any decision, make sure you know the area, make sure you know why you are buying the house and if it is to earn money, consider what a client would want.
Mark is webmaster for European Breakdown Cover also Finance Comparison and Dialaphone Rental Deals
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