Buying in Spain
When it comes to buying a property in Spain there are many elements to consider alongside the obvious factor of picking your property.
Choosing the right location is possibly the most critical and important factor of the purchase process when buying in Spain. It is easy to find that dream apartment or villa but if you get the location wrong then that dream could quickly become a nightmare.
Researching areas is key, some common points to consider include: does the area tick the right boxes on aspects such as travel time from the airport, does the area have the required amenities to make your holiday or permanent residence an enjoyable experience at all times and even checking likewise property prices in the direct and surrounding areas to give you a good idea of future growth/ depreciation on the price of the property.
Understanding the buying process from start to finish is a grey area for many buyers who often leave this to their estate agent or chosen solicitor/ representative to handle with little or no understanding of the process – you would not do this in your country of residence so why leave anything to chance or be in doubt when buying a property in Spain?
It is key to us as a Spanish real estate agent that our clients have a clear map of the buying process and we will always explain each step of the process including:
- Timescales – How long can you expect to wait before completion
- Deposits – How much deposit is required to secure the property
- Financial and Tax implications – Will owning a property in Spain have an impact on your tax in your country of residence and what taxes will be due in Spain upon purchase and annually
- Moving and exchanging funds to Spain from overseas – What is the best and most cost effective way of bringing your money to Spain
- The legal process – Who is the best solicitor or legal firm to complete conveyancing and the purchase on your behalf
- Obtaining paperwork – What will you need to purchase in Spain
- Mortgages – Will you need finance to assist the purchase and will you be applicable to qualify for borrowing from a Spanish bank
These are just some of the factors to consider – if you would like to discuss the full process of buying a property in Spain why not send us your details via the below link and one of our consultants will be happy to contact you at a beneficial time to discuss the process in full.