Buying property is a very important decision in everyone’s life – especially when it takes places in a foreign country. However, one must take into consideration that purchasing their dream house or apartment does not necessarily mean that the process will be complicated and stressful. With the help of professional real estate agents you may gain lots of time and be presented with more attractive offers. Read to find out why is it worth investing in Spanish property.
Wide variety of properties in Spain
Many fear that properties in Spain consist mainly of luxurious villas with swimming pools. However, the property market is filled with many various offers. You may find apartments, flats, houses, semi-detached houses, terraced houses for every pocket. If you wish to spend less money you should choose e.g. an apartment in an area, which is located a bit further from the sea and attractions.
Nevertheless, when you are looking for a property with a view to tourist rental you should purchase one in typical tourists resorts near the beach and/or mountains. This will attract tourists and generate more profit.
- The weather
Are you tired of rain and cold weather? Spain is the perfect solution to that problem. Not only is it hot there, but you may enjoy the sun as much as 320 days a year! No more cancelling plans due to bad weather. Invest in Spanish property and get more out of life.
- Great for people of all ages, including children
Are you worried that you children will be bored in Spain? Or maybe you are a senior, who is afraid that the Spanish lifestyle may be too much? Nothing of the sorts. Spain has something for everyone. If you wish to spend time actively there are many ways to do so i.a. water sports, parks, mountains, cycling paths etc. However, if you enjoy a more passive lifestyle you may relax on one of the many beaches or simply get acquainted with the Mediterranean cuisine.
Is it safe to invest in Spain during the pandemic?
According to the statistics conducted by banks, property prices in Spain could fall by an average of 6% and land by up to 20%. It is great news for people who are looking forward to investing. Properties become more affordable and it is possible to negotiate an even a better price with the owner. The low interest rates of mortgages along with strongly favourable forecasts for the property market are also very encouraging.
Nevertheless, you should reckon with the fact that a purchase during the pandemic may take more time. Thanks to the development of technology we may stay home and still find attractive property offers, book them, arrange a visit online and complete all the formal issues.
The Spanish property market is filled with completely new-built properties. Some of them are yet in the making, which means that in many cases we may still ask the owner to adjust the furnishings or decorations to our liking.
How to avoid pitfalls?
The most common problem when planning to buy property is misunderstanding your solicitor or real estate agent. Therefore, it is crucial to cooperate with an agency that provides the services of a professional translator or agents fluent in English. Thankfully, the market is filled with English-speaking specialists.
Do not rush
Very frequently people buy in haste, which is very dangerous. You may easily overlook some very important paperwork or deadlines. Therefore, it is advised not to hurry and use the services of real estate agents, who will guide us through the purchase process step by step.
In addition, it may seem obvious, however many people still make the trivial mistake of signing contracts they do not understand. It is best to have someone who is representing us check it. Thanks to the help of a real estate agent or/and a lawyer we may be sure that the contract we are signing has been well-devised.
Costs of maintenance are also something, which we must consider when deciding to invest in property. There are taxes, payment for water and electricity etc.
Is it worth investing in Spanish property? Of course! Go for it and gain a beautiful, stress-free life.