Important Tips for Buying Property in Spain

 In blog-newington

People from the UK have a long-standing affinity with Spain and it’s not hard to see why. There’s a more laidback way of life there, the cost of living is more affordable and there’s more  warmth felt from that big yellow thing in the sky. Not to mention the strong ex-pat community, the beach, the sea and all that delicious and healthy food. If you’re looking to get more out of the Spanish lifestyle than just a couple of weeks away during the summer, you may be looking to invest in property there.

While we wouldn’t want to deter you from following your dream, it’s important that you consider the tips we’ve put together in the following post, before doing anything else. They’ll help you avoid making costly mistakes and could even ensure you get a better value deal for your available budget.

Consider Your Budget Carefully

Speaking of budget and finances, the first thing you need to do before anything else when you make the decision about moving to Spain is to get your finances in order. Obviously, you need to get the money together to buy property. As well as the cost of the house, villa or apartment you want to buy, you also need to factor the buying fees and any other taxes and charges, such as commission to the estate agent, registration fees, legal fees and stamp duty.

Set a Realistic Budget

Obviously, it would be foolish to just start looking for any house before you work out exactly how much you can afford. Looking before knowing your budget could lead you to fall in love with a house and then suffer disappointment when you realise it’s out of your price range. It may be worth speaking to a currency exchange specialist to figure out how much risk is involved in current fluctuations in the currency exchange rate.

Do as Much Research as Possible about the Process of Buying Property in Spain

Given just how big a decision it is to decide that you want to move somewhere else and live, particularly in a foreign country, preparation is crucial. Take the time to sit down and thoroughly research the Spanish property buying process. As legislations and regulations regularly change, it’s important to make sure the information you are reading is accurate and up to date. If you need any more advice or help, you could also look to Newington Estates who have experience in buying property abroad in places like Spain.

Carefully Research the Areas You’re Interested in

It would be foolish also to consider everywhere in Spain to be the exact same with the same access to beaches and nice sunny weather. Spain is a hugely versatile land with many different climates and landscapes. So, carefully look at the places you’d most likely to stay. It is always wise, if possible, to take an extended break in the town, area or city you’re thinking of moving to, so you can see what it’s like, before you make such a huge financial commitment as buying a property.

Choose the Right Estate Agency

When you’re buying property abroad, it’s especially important to find the best estate agent you can. Ideally you will want an estate agent with experience in that area and type of property you are interested in. As there is a lot of important legal paperwork involved in buying property, you want to make sure there’s no translation issues, so it’s best if you find an agency that either is run by English speaking individuals or who are fluent in English.

Although the list of tips above is not especially exhaustive, it does give you some food for though if you’re considering buying property in Spain. It’s more than enough to get you heading in the right direction towards that beautiful villa, apartment or house you’ve been dreaming of!

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