Buying a property, either in the UK, Spain, or another country, is always an important decision that entails a high degree of commitment. The credit crisis in Spain step, and now the country is in full economic recovery. Low real estate prices are one of the causes of the current attractiveness of Spain for British and Scandinavian buyers.
No need to be an expert on legislation to learn how the buying process works in Spain, although it is advisable to have a slight idea. There are many books and official information available, but some good advice on what to do and what not to do when buying property in Spain are unpayable.
Some of these tips may result from common sense. And certainly they are. However, often the excitement of visiting homes judgment clouded us, and makes us end up doing things that go against our interests. Therefore, keep these tips in mind if you are tempted to leave common sense at the airport.
Once you have decided to buy a property in Spain, it is important to begin to organize your funds and bank accounts. You'll need to purchase the property. Please note all costs of purchase, and other costs that increase as attorney fees, registration of property, or real estate agent commission.
It is very important to know exactly how much money you spend on buying housing before undertaking travel to Spain to visit properties. The last thing we want is to fall in love with a property that can not afford even remotely. Do not get too high a budget. Make sure you consider all the costs, which generally tend to increase the final price by 15%.
Very often, foreign buyers decide to buy based on the exchange rate Euro / Pound given time. These rates fluctuate all the time, and at the time of closing the transaction types may have changed drastically.
For this reason we recommend talking to a foreign exchange specialist to help you avoid the damage of fluctuations and advise you of the best possible way to stretch your budget as much as possible.
With as important as buying a property, especially in another country decision, anticipate is particularly relevant. However, when document yourself, not get obsessed with all the details. You can always hire an attorney to oversee all the paperwork, but have a general knowledge will be very useful.
Fortunately, Spain has a wide range of locations and types of property so that you are able to find the one that suits you. However, maybe you should start writing down on paper what your needs are, how far you want to have the services and shops, how much you're willing to drive and navigate, etc.
Think about where and what type of property you would like to buy in Spain. It is very important to get complete information on each area that you like and find out if you have everything you're looking for in your new neighborhood. Think if you like its climate, services, neighbors or anything you think is important.
It is a good idea to know these areas in all seasons, both winter and summer. This will make you familiar with seasonal differences. In the winter months you may notice that real estate agents have more time to devote and sellers are willing to negotiate price reductions.
Pressures when buying are not like they used to, but keep in mind that the housing market is a buyer's market. Ask to see the property as often as you need, at different times of day, different days of the week, if you can.
Perhaps the most important of the advice we are giving. Do not sign anything or pay without making the necessary legal checks to property and contract. This is very important, because often foreign buyers in Spain are easily deceived about all kinds of issues.
This advice is in line with the previous. Invest in a good lawyer whose independence and transparency trust. Having someone on your side who is familiar with the legal process and all purchase details is very important. This professional will have your interests in mind at all times to advise what is best for you.
The real estate agent will be one of the people who help you in finding housing, so it is important that you make sure you hire the most appropriate. You need one who specializes in the areas that interest you, you understand exactly what you're looking for, and have experience in trading with foreign citizens.
It is OK to use Internet research, this will give you an idea of the different options that exist. If you know someone who has already bought a property in the area, see if you can personally recommend to any agent or company. It is very important that you get in one hand you trust. This will enable assure the highest number of visits to properties that will save you time and money.
If you plan to carry out reforms on a property that you purchase, remember that in most cases have to ask permission. It could be that it was not very difficult if you plan to do does not affect properties around, but it is well informed because the authorities are becoming stricter with these issues.
If you are planning to rent your home while you are away, check out the paperwork you'll need. The legislation changes in each region, and in some some sort of record for rentals, especially short stays required. Do not get caught off guard.
Remember that once you've purchased your home, a point of no return after which economic responsibilities it is difficult to roll back are acquired is reached. Do not hurry. Before signing the deed, make sure you understand everything. Do not let anyone pressure you to sign under your will.
Whatever you do, you can avoid the risk of changes in currency through a forward contract. This allows you to block an exchange rate at the time of purchase the property, ensuring you will not lose money if the currency market suffers sudden movements while the purchase is finished.
In Europahus, especially in the Nordic countries, in search and purchase of housing in Spain we have been more than 15 years advising clients. This experience obliges us to keep up to date on all regulatory requirements and all legal aspects related to our activity.
Our close collaboration with many local realtors makes our catalog includes all kinds of properties throughout the provinces of Murcia and Alicante. Please contact us if you are looking for a house in Spain.